Spectrum Brands (NYSE:SPB) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Spectrum Brands Holdings Inc. (NYSE:SPB)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $77.09 and traded as high as $89.45. Spectrum Brands shares last traded at $89.1950, with a volume of 235,650 shares traded.

Analysts Set New Price Targets

SPB has been the topic of several research reports. Wells Fargo & Company boosted their price objective on shares of Spectrum Brands from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $81.00 target price on shares of Spectrum Brands in a research note on Friday, May 8th. Canaccord Genuity Group dropped their price target on Spectrum Brands from $100.00 to $99.00 and set a “buy” rating on the stock in a research report on Wednesday, June 17th. Wall Street Zen cut Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Finally, Weiss Ratings upgraded Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.00.

Spectrum Brands Stock Up 0.3%

The company has a market capitalization of $2.05 billion, a PE ratio of 17.02, a P/E/G ratio of 2.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.42 and a current ratio of 2.29. The company’s 50-day moving average is $82.59 and its 200 day moving average is $77.09.

Spectrum Brands (NYSE:SPB) last issued its earnings results on Thursday, May 7th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.21. The business had revenue of $708.90 million during the quarter, compared to analysts’ expectations of $676.45 million. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 earnings per share. As a group, analysts anticipate that Spectrum Brands Holdings Inc. will post 5.32 EPS for the current year.

Spectrum Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, May 26th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Tuesday, May 26th. Spectrum Brands’s payout ratio is presently 35.88%.

Insider Transactions at Spectrum Brands

In other Spectrum Brands news, CEO David M. Maura acquired 2,500 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of $72.85 per share, with a total value of $182,125.00. Following the transaction, the chief executive officer owned 790,708 shares of the company’s stock, valued at $57,603,077.80. The trade was a 0.32% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SPB. Amundi purchased a new stake in shares of Spectrum Brands during the first quarter valued at $176,000. Millennium Management LLC increased its holdings in Spectrum Brands by 64.7% in the 1st quarter. Millennium Management LLC now owns 166,496 shares of the company’s stock worth $11,913,000 after buying an additional 65,424 shares in the last quarter. NewEdge Advisors LLC raised its position in Spectrum Brands by 173.0% in the 1st quarter. NewEdge Advisors LLC now owns 5,389 shares of the company’s stock worth $386,000 after buying an additional 3,415 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Spectrum Brands by 40.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 393,084 shares of the company’s stock worth $28,125,000 after buying an additional 114,143 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Spectrum Brands by 6.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 111,571 shares of the company’s stock valued at $7,983,000 after acquiring an additional 6,321 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.