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

Spectrum Brands Holdings, Inc. (NYSE:SPB) has received an average rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $102.38.

Separately, Canaccord Genuity Group lifted their price target on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research note on Monday, November 18th.

Institutional Investors Weigh In On Spectrum Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPB. TCW Group Inc. boosted its stake in Spectrum Brands by 25.2% during the 2nd quarter. TCW Group Inc. now owns 126,861 shares of the company’s stock worth $10,901,000 after purchasing an additional 25,551 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Spectrum Brands by 94.8% during the 2nd quarter. Fifth Third Bancorp now owns 1,734 shares of the company’s stock worth $149,000 after acquiring an additional 844 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Spectrum Brands by 4.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,007,572 shares of the company’s stock worth $172,511,000 after acquiring an additional 79,322 shares during the period. Legato Capital Management LLC raised its holdings in shares of Spectrum Brands by 51.5% during the 2nd quarter. Legato Capital Management LLC now owns 11,491 shares of the company’s stock worth $987,000 after acquiring an additional 3,907 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Spectrum Brands by 10.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,103 shares of the company’s stock worth $610,000 after acquiring an additional 676 shares during the period.

Spectrum Brands Price Performance

Spectrum Brands stock opened at $89.12 on Friday. The company’s fifty day moving average price is $91.43 and its 200 day moving average price is $89.71. Spectrum Brands has a 1 year low of $75.50 and a 1 year high of $96.74. The stock has a market capitalization of $2.50 billion, a P/E ratio of 21.92, a P/E/G ratio of 1.58 and a beta of 1.19. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.62 and a current ratio of 2.30.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Friday, November 15th. The company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.16). Spectrum Brands had a net margin of 4.21% and a return on equity of 6.16%. The company had revenue of $773.70 million during the quarter, compared to analyst estimates of $747.80 million. During the same period in the prior year, the business posted $1.36 EPS. Spectrum Brands’s revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Spectrum Brands will post 5.25 earnings per share for the current fiscal year.

Spectrum Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, November 26th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.11%. The ex-dividend date was Tuesday, November 26th. This is a boost from Spectrum Brands’s previous quarterly dividend of $0.42. Spectrum Brands’s payout ratio is 46.08%.

About Spectrum Brands

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.