Spectrum Brands (NYSE:SPB – Get Free Report) had its price target cut by Canaccord Genuity Group from $100.00 to $99.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 17.67% from the company’s previous close.
A number of other analysts have also weighed in on SPB. Wall Street Zen raised shares of Spectrum Brands from a “hold” rating to a “buy” rating in a report on Saturday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $81.00 price objective on shares of Spectrum Brands in a report on Friday, May 8th. Finally, Weiss Ratings upgraded Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.00.
Check Out Our Latest Report on SPB
Spectrum Brands Price Performance
Spectrum Brands (NYSE:SPB – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.21. The company had revenue of $708.90 million during the quarter, compared to analysts’ expectations of $676.45 million. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.The business’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the business earned $0.68 earnings per share. Research analysts predict that Spectrum Brands will post 5.32 earnings per share for the current year.
Insider Activity
In other news, CEO David M. Maura purchased 2,500 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were bought at an average cost of $72.85 per share, for a total transaction of $182,125.00. Following the completion of the acquisition, the chief executive officer directly owned 790,708 shares in the company, valued at approximately $57,603,077.80. This trade represents a 0.32% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.90% of the stock is owned by corporate insiders.
Institutional Trading of Spectrum Brands
Several institutional investors and hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Spectrum Brands by 7,237.5% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock valued at $31,000 after acquiring an additional 579 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Spectrum Brands by 96.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock worth $37,000 after purchasing an additional 310 shares in the last quarter. Farther Finance Advisors LLC raised its position in Spectrum Brands by 111.7% in the fourth quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock valued at $38,000 after purchasing an additional 335 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Spectrum Brands during the second quarter valued at about $41,000. Finally, Quarry LP acquired a new stake in shares of Spectrum Brands during the third quarter valued at about $51,000.
Spectrum Brands Company Profile
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.
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