Spectrum Brands Holdings, Inc. (NYSE:SPB) Receives $103.43 Consensus Target Price from Brokerages

Spectrum Brands Holdings, Inc. (NYSE:SPB) has been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $103.43.

SPB has been the subject of a number of recent analyst reports. Canaccord Genuity Group upgraded shares of Spectrum Brands from a “hold” rating to a “buy” rating and upped their price target for the company from $94.00 to $102.00 in a report on Friday, February 7th. Royal Bank of Canada cut their target price on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Wells Fargo & Company lowered their price target on Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, UBS Group cut their price objective on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th.

Spectrum Brands Stock Performance

Spectrum Brands stock opened at $69.84 on Friday. The firm has a fifty day simple moving average of $78.28 and a two-hundred day simple moving average of $85.91. Spectrum Brands has a twelve month low of $68.74 and a twelve month high of $96.74. The company has a market capitalization of $1.84 billion, a PE ratio of 17.16, a P/E/G ratio of 1.70 and a beta of 1.20. The company has a quick ratio of 1.53, a current ratio of 2.40 and a debt-to-equity ratio of 0.27.

Spectrum Brands (NYSE:SPB) last issued its earnings results on Thursday, February 6th. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. During the same quarter in the previous year, the firm posted $0.78 earnings per share. Research analysts expect that Spectrum Brands will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were paid a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.88 annualized dividend and a yield of 2.69%. Spectrum Brands’s payout ratio is 46.19%.

Institutional Trading of Spectrum Brands

Hedge funds and other institutional investors have recently modified their holdings of the business. Harvey Partners LLC bought a new stake in Spectrum Brands during the third quarter worth about $19,837,000. Man Group plc lifted its holdings in shares of Spectrum Brands by 160.5% during the fourth quarter. Man Group plc now owns 320,178 shares of the company’s stock valued at $27,052,000 after purchasing an additional 197,263 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of Spectrum Brands in the 4th quarter worth approximately $16,606,000. Two Sigma Advisers LP increased its position in Spectrum Brands by 403.9% during the 4th quarter. Two Sigma Advisers LP now owns 233,800 shares of the company’s stock valued at $19,754,000 after buying an additional 187,400 shares in the last quarter. Finally, Trexquant Investment LP increased its position in Spectrum Brands by 2,541.2% during the 4th quarter. Trexquant Investment LP now owns 148,698 shares of the company’s stock valued at $12,563,000 after buying an additional 143,068 shares in the last quarter.

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.