Spectrum Brands Holdings Inc. (NYSE:SPB) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Spectrum Brands Holdings Inc. (NYSE:SPB) have earned an average rating of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $86.20.

SPB has been the topic of a number of analyst reports. Weiss Ratings raised shares of Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $81.00 price target on shares of Spectrum Brands in a research report on Friday, May 8th. Canaccord Genuity Group lifted their price objective on shares of Spectrum Brands from $94.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Wall Street Zen raised shares of Spectrum Brands from a “hold” rating to a “buy” rating in a research note on Saturday.

Spectrum Brands Stock Performance

Shares of SPB stock opened at $84.32 on Tuesday. Spectrum Brands has a 52-week low of $49.99 and a 52-week high of $86.96. The company has a quick ratio of 1.42, a current ratio of 2.29 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.96 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 2.62 and a beta of 0.65. The business has a 50-day simple moving average of $80.21 and a 200-day simple moving average of $72.18.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Thursday, May 7th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.04 by $0.21. The firm had revenue of $708.90 million for the quarter, compared to analyst estimates of $676.45 million. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.Spectrum Brands’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $0.68 earnings per share. On average, equities analysts expect that Spectrum Brands will post 5.32 EPS for the current year.

Spectrum Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Tuesday, May 26th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a yield of 2.2%. Spectrum Brands’s dividend payout ratio is presently 35.88%.

Insider Transactions at Spectrum Brands

In other Spectrum Brands news, CEO David M. Maura purchased 2,500 shares of the stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $72.85 per share, for a total transaction of $182,125.00. Following the completion of the transaction, the chief executive officer owned 790,708 shares of the company’s stock, valued at $57,603,077.80. This trade represents a 0.32% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 3.90% of the company’s stock.

Institutional Trading of Spectrum Brands

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Glenmede Trust Co. NA acquired a new position in shares of Spectrum Brands during the 1st quarter worth approximately $311,000. Edgestream Partners L.P. acquired a new stake in Spectrum Brands in the 1st quarter valued at $2,224,000. California State Teachers Retirement System increased its holdings in Spectrum Brands by 17.8% in the 1st quarter. California State Teachers Retirement System now owns 25,279 shares of the company’s stock worth $1,863,000 after acquiring an additional 3,813 shares in the last quarter. Empowered Funds LLC increased its holdings in Spectrum Brands by 5.2% in the 1st quarter. Empowered Funds LLC now owns 93,632 shares of the company’s stock worth $6,901,000 after acquiring an additional 4,612 shares in the last quarter. Finally, Maverick Capital Ltd. raised its position in Spectrum Brands by 31.5% during the first quarter. Maverick Capital Ltd. now owns 67,826 shares of the company’s stock worth $4,999,000 after acquiring an additional 16,238 shares during the period.

About Spectrum Brands

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.