Spectrum Brands (NYSE:SPB – Get Free Report) had its price objective decreased by Wells Fargo & Company from $90.00 to $85.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 10.84% from the stock’s current price.
Several other analysts also recently weighed in on SPB. Wall Street Zen raised Spectrum Brands from a “hold” rating to a “buy” rating in a research note on Saturday, September 5th. Monness Crespi & Hardt increased their price target on Spectrum Brands from $86.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Weiss Ratings lowered Spectrum Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Oppenheimer lifted their price objective on shares of Spectrum Brands from $85.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Finally, Royal Bank Of Canada downgraded shares of Spectrum Brands from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $85.00 to $92.00 in a report on Monday, August 10th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Spectrum Brands has a consensus rating of “Hold” and an average target price of $98.00.
View Our Latest Stock Report on Spectrum Brands
Spectrum Brands Price Performance
Spectrum Brands (NYSE:SPB – Get Free Report) last released its quarterly earnings results on Friday, August 7th. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $1.33. The company had revenue of $753.30 million for the quarter, compared to analysts’ expectations of $732.19 million. Spectrum Brands had a return on equity of 10.06% and a net margin of 2.76%.The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 earnings per share. Analysts forecast that Spectrum Brands will post 6.38 EPS for the current year.
Institutional Trading of Spectrum Brands
Several institutional investors have recently modified their holdings of SPB. Pzena Investment Management LLC purchased a new position in shares of Spectrum Brands in the second quarter worth approximately $207,584,000. BlackRock Inc. purchased a new stake in shares of Spectrum Brands in the 2nd quarter valued at approximately $166,197,000. Alberta Investment Management Corp purchased a new stake in shares of Spectrum Brands in the 2nd quarter valued at approximately $46,353,000. Manning & Napier Advisors LLC purchased a new stake in shares of Spectrum Brands in the 2nd quarter valued at approximately $26,496,000. Finally, Bank of America Corp DE acquired a new position in Spectrum Brands in the 2nd quarter worth approximately $24,742,000.
Spectrum Brands Company Profile
Spectrum Brands Holdings, Inc is a global consumer products company headquartered in Middleton, Wisconsin. The company develops, markets and distributes branded products for use in homes, gardens and by pet owners, selling through mass retailers, e-commerce channels, specialty stores and other retail outlets in North America and international markets.
Spectrum Brands’ portfolio has historically included home and personal care products under brands such as Remington, Russell Hobbs, George Foreman and Black+Decker, as well as pet care products marketed under brands including Tetra, FURminator, Nature’s Miracle and 8-in-1.
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