Spectrum Brands (NYSE:SPB) Sets New 12-Month High – Time to Buy?

Spectrum Brands Holdings Inc. (NYSE:SPBGet Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $91.66 and last traded at $91.5140, with a volume of 80518 shares trading hands. The stock had previously closed at $88.92.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SPB. Weiss Ratings reiterated a “hold (c+)” rating on shares of Spectrum Brands in a report on Tuesday, July 21st. Wall Street Zen lowered shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Canaccord Genuity Group decreased their price target on shares of Spectrum Brands from $100.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, June 17th. Wells Fargo & Company boosted their price target on Spectrum Brands from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $81.00 price objective on shares of Spectrum Brands in a research note on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Spectrum Brands presently has an average rating of “Moderate Buy” and an average target price of $87.00.

Check Out Our Latest Analysis on Spectrum Brands

Spectrum Brands Stock Down 3.0%

The company has a market cap of $2.02 billion, a P/E ratio of 16.80, a P/E/G ratio of 2.86 and a beta of 0.63. The company has a quick ratio of 1.42, a current ratio of 2.29 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $85.02 and its 200 day moving average is $78.95.

Spectrum Brands (NYSE:SPBGet Free Report) last posted its earnings results on Thursday, May 7th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.21. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.The company had revenue of $708.90 million during the quarter, compared to analyst estimates of $676.45 million. During the same quarter in the prior year, the business earned $0.68 earnings per share. Spectrum Brands’s revenue was up 4.9% on a year-over-year basis. As a group, equities analysts anticipate that Spectrum Brands Holdings Inc. will post 5.32 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, August 25th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.88 dividend on an annualized basis and a yield of 2.1%. Spectrum Brands’s dividend payout ratio (DPR) is presently 35.88%.

Insider Buying and Selling

In other news, CEO David M. Maura purchased 2,500 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average cost of $72.85 per share, with a total value of $182,125.00. Following the completion of the transaction, the chief executive officer owned 790,708 shares in the company, valued at $57,603,077.80. This represents a 0.32% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SPB. ProShare Advisors LLC grew its position in Spectrum Brands by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 4,721 shares of the company’s stock worth $279,000 after acquiring an additional 140 shares during the period. Federated Hermes Inc. raised its position in Spectrum Brands by 1.3% in the fourth quarter. Federated Hermes Inc. now owns 12,048 shares of the company’s stock valued at $712,000 after purchasing an additional 157 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Spectrum Brands by 96.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock valued at $37,000 after purchasing an additional 310 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Spectrum Brands by 111.7% in the 4th 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. Finally, CWM LLC lifted its stake in shares of Spectrum Brands by 58.2% in the 4th quarter. CWM LLC now owns 1,237 shares of the company’s stock valued at $73,000 after purchasing an additional 455 shares during the last quarter.

Spectrum Brands Company Profile

(Get Free Report)

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.

Further Reading

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