Spectrum Brands Holdings, Inc. (NYSE:SPB) Receives $101.88 Consensus Price Target from Brokerages

Spectrum Brands Holdings, Inc. (NYSE:SPB) has been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $102.38.

Several equities analysts recently commented on the stock. UBS Group increased their target price on shares of Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 9th. Canaccord Genuity Group lifted their price objective on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a report on Monday, November 18th. Wells Fargo & Company increased their target price on Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, August 9th.

Spectrum Brands Price Performance

SPB stock opened at $90.45 on Monday. The firm has a 50 day simple moving average of $91.45 and a two-hundred day simple moving average of $89.69. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.30 and a quick ratio of 1.62. The stock has a market cap of $2.54 billion, a PE ratio of 22.17, a P/E/G ratio of 1.58 and a beta of 1.23. Spectrum Brands has a one year low of $65.50 and a one year high of $96.74.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Friday, November 15th. The company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.16). The firm had revenue of $773.70 million for the quarter, compared to analysts’ expectations of $747.80 million. Spectrum Brands had a net margin of 4.21% and a return on equity of 6.16%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.36 EPS. On average, analysts predict that Spectrum Brands will post 5.25 EPS for the current fiscal year.

Spectrum Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Tuesday, November 26th. This is an increase from Spectrum Brands’s previous quarterly dividend of $0.42. Spectrum Brands’s dividend payout ratio is currently 41.18%.

Institutional Trading of Spectrum Brands

Several large investors have recently added to or reduced their stakes in SPB. Russell Investments Group Ltd. boosted its stake in shares of Spectrum Brands by 5.7% during the 1st quarter. Russell Investments Group Ltd. now owns 54,154 shares of the company’s stock valued at $4,820,000 after purchasing an additional 2,927 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Spectrum Brands in the first quarter worth about $42,000. CANADA LIFE ASSURANCE Co boosted its position in Spectrum Brands by 19.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 44,827 shares of the company’s stock valued at $3,995,000 after acquiring an additional 7,227 shares in the last quarter. Natixis grew its holdings in shares of Spectrum Brands by 402.5% during the 1st quarter. Natixis now owns 28,589 shares of the company’s stock worth $2,545,000 after acquiring an additional 22,900 shares during the period. Finally, Gamco Investors INC. ET AL raised its position in shares of Spectrum Brands by 50.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 231,933 shares of the company’s stock worth $20,644,000 after acquiring an additional 77,835 shares in the last quarter.

Spectrum Brands Company Profile

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.