Spectrum Brands (NYSE:SPB) Reaches New 12-Month Low Following Analyst Downgrade

Spectrum Brands Holdings, Inc. (NYSE:SPB)’s share price hit a new 52-week low during trading on Thursday after Wells Fargo & Company lowered their price target on the stock from $80.00 to $75.00. Wells Fargo & Company currently has an equal weight rating on the stock. Spectrum Brands traded as low as $67.21 and last traded at $67.46, with a volume of 56921 shares traded. The stock had previously closed at $71.41.

A number of other research analysts also recently commented on the stock. Royal Bank of Canada lowered their price objective on shares of Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. UBS Group decreased their target price on shares of Spectrum Brands from $114.00 to $109.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, Canaccord Genuity Group raised shares of Spectrum Brands from a “hold” rating to a “buy” rating and upped their price target for the stock from $94.00 to $102.00 in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $101.57.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc lifted its position in Spectrum Brands by 101.7% during the 1st quarter. Versant Capital Management Inc now owns 970 shares of the company’s stock worth $69,000 after acquiring an additional 489 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Spectrum Brands by 13.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,259 shares of the company’s stock worth $275,000 after purchasing an additional 396 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Spectrum Brands during the 4th quarter worth about $2,758,000. Pullen Investment Management LLC lifted its position in shares of Spectrum Brands by 47.1% during the 4th quarter. Pullen Investment Management LLC now owns 12,028 shares of the company’s stock worth $1,016,000 after purchasing an additional 3,849 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Spectrum Brands by 10.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 105,250 shares of the company’s stock valued at $8,893,000 after purchasing an additional 9,911 shares during the period.

Spectrum Brands Price Performance

The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $76.15 and a 200-day simple moving average of $85.00. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 1.70 and a beta of 1.20.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. During the same period in the prior year, the business earned $0.78 EPS. As a group, equities research analysts expect that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current year.

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.88 annualized dividend and a dividend yield of 2.84%. Spectrum Brands’s payout ratio is 46.19%.

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.