Wells Fargo & Company Lowers Spectrum Brands (NYSE:SPB) Price Target to $88.00

Spectrum Brands (NYSE:SPBGet Free Report) had its target price dropped by investment analysts at Wells Fargo & Company from $92.00 to $88.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 4.33% from the stock’s previous close.

Separately, Canaccord Genuity Group lifted their target price on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Monday, November 18th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.13.

View Our Latest Stock Analysis on Spectrum Brands

Spectrum Brands Stock Performance

SPB traded up $0.31 during trading hours on Tuesday, hitting $84.35. The stock had a trading volume of 42,097 shares, compared to its average volume of 246,154. Spectrum Brands has a 1 year low of $75.50 and a 1 year high of $96.74. The company’s fifty day simple moving average is $89.76 and its 200 day simple moving average is $89.19. The stock has a market cap of $2.37 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 1.58 and a beta of 1.20. The company has a quick ratio of 1.62, a current ratio of 2.30 and a debt-to-equity ratio of 0.26.

Spectrum Brands (NYSE:SPBGet Free Report) last announced its quarterly earnings results on Friday, November 15th. The company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.16). The business 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 business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 earnings per share. Equities analysts anticipate that Spectrum Brands will post 5.25 earnings per share for the current year.

Hedge Funds Weigh In On Spectrum Brands

A number of hedge funds have recently bought and sold shares of the business. Everence Capital Management Inc. bought a new stake in shares of Spectrum Brands in the fourth quarter worth approximately $553,000. Franklin Resources Inc. boosted its holdings in Spectrum Brands by 2.6% in the third quarter. Franklin Resources Inc. now owns 14,792 shares of the company’s stock worth $1,356,000 after purchasing an additional 381 shares during the last quarter. M&T Bank Corp purchased a new stake in Spectrum Brands during the 3rd quarter valued at $221,000. Barclays PLC lifted its holdings in shares of Spectrum Brands by 71.4% during the 3rd quarter. Barclays PLC now owns 35,407 shares of the company’s stock valued at $3,369,000 after buying an additional 14,746 shares during the period. Finally, National Bank of Canada FI grew its holdings in shares of Spectrum Brands by 10,046.3% in the third quarter. National Bank of Canada FI now owns 44,441 shares of the company’s stock worth $4,228,000 after acquiring an additional 44,003 shares during the period.

Spectrum Brands Company Profile

(Get Free Report)

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.

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