Spectrum Brands (NYSE:SPB) Price Target Lowered to $109.00 at UBS Group

Spectrum Brands (NYSE:SPB) had its price target lowered by UBS Group from $114.00 to $109.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

SPB has been the topic of a number of other research reports. Wells Fargo & Company cut their price target on shares of Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Canaccord Genuity Group boosted their price objective on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a report on Monday, November 18th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Spectrum Brands currently has an average rating of “Moderate Buy” and a consensus target price of $100.75.

Spectrum Brands Stock Performance

Shares of SPB stock opened at $85.43 on Thursday. The company has a current ratio of 2.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.26. The company has a market cap of $2.40 billion, a PE ratio of 20.94, a PEG ratio of 1.46 and a beta of 1.20. Spectrum Brands has a 12-month low of $75.50 and a 12-month high of $96.74. The business’s fifty day simple moving average is $88.77 and its 200-day simple moving average is $89.03.

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

Spectrum Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th were issued a $0.47 dividend. This is an increase from Spectrum Brands’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Tuesday, November 26th. Spectrum Brands’s dividend payout ratio is 46.08%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Citigroup Inc. boosted its holdings in Spectrum Brands by 15.9% in the third quarter. Citigroup Inc. now owns 41,048 shares of the company’s stock valued at $3,905,000 after purchasing an additional 5,641 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Spectrum Brands in the fourth quarter worth about $553,000. Bank of Montreal Can grew its holdings in Spectrum Brands by 2,542.3% during the second quarter. Bank of Montreal Can now owns 117,795 shares of the company’s stock worth $10,862,000 after acquiring an additional 113,337 shares during the period. International Assets Investment Management LLC raised its position in Spectrum Brands by 9,420.0% during the third quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock valued at $45,000 after acquiring an additional 471 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Spectrum Brands by 5.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,120,102 shares of the company’s stock valued at $201,707,000 after acquiring an additional 112,530 shares during the period.

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.