Spectrum Brands Holdings Inc. (NYSE:SPB) Receives $73.80 Average Target Price from Brokerages

Shares of Spectrum Brands Holdings Inc. (NYSE:SPB) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $73.80.

Several research analysts have commented on the company. Canaccord Genuity Group cut their price target on Spectrum Brands from $77.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. Wall Street Zen upgraded Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Royal Bank Of Canada set a $75.00 target price on Spectrum Brands and gave the stock an “outperform” rating in a research report on Monday, August 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Spectrum Brands in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company cut their price target on Spectrum Brands from $60.00 to $55.00 and set an “equal weight” rating for the company in a report on Thursday, September 25th.

Spectrum Brands Price Performance

SPB stock opened at $51.59 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.42 and a quick ratio of 1.50. The firm has a market capitalization of $1.25 billion, a P/E ratio of 19.25 and a beta of 0.81. The business’s 50-day moving average is $54.44 and its two-hundred day moving average is $57.21. Spectrum Brands has a 1 year low of $49.99 and a 1 year high of $96.62.

Spectrum Brands (NYSE:SPB) last issued its earnings results on Thursday, August 7th. The company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.01). The business had revenue of $699.60 million for the quarter, compared to analyst estimates of $742.13 million. Spectrum Brands had a return on equity of 5.27% and a net margin of 2.56%.Spectrum Brands’s revenue was down 10.2% on a year-over-year basis. During the same period last year, the business posted $1.13 EPS. Analysts anticipate that Spectrum Brands will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Tuesday, August 26th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.6%. The ex-dividend date was Tuesday, August 26th. Spectrum Brands’s dividend payout ratio is presently 70.15%.

Institutional Investors Weigh In On Spectrum Brands

A number of institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its position in Spectrum Brands by 13.9% during the second quarter. Nisa Investment Advisors LLC now owns 1,767 shares of the company’s stock valued at $94,000 after acquiring an additional 215 shares during the period. GAMMA Investing LLC grew its holdings in Spectrum Brands by 120.3% during the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock valued at $26,000 after purchasing an additional 267 shares in the last quarter. Blue Trust Inc. increased its position in shares of Spectrum Brands by 44.8% during the second quarter. Blue Trust Inc. now owns 1,060 shares of the company’s stock worth $56,000 after acquiring an additional 328 shares during the last quarter. Pullen Investment Management LLC boosted its stake in shares of Spectrum Brands by 2.8% during the 1st quarter. Pullen Investment Management LLC now owns 12,361 shares of the company’s stock valued at $884,000 after buying an additional 333 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Spectrum Brands by 13.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,259 shares of the company’s stock worth $275,000 after acquiring an additional 396 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.