Wells Fargo & Company Cuts Spectrum Brands (NYSE:SPB) Price Target to $75.00

Spectrum Brands (NYSE:SPB) had its target price dropped by equities researchers at Wells Fargo & Company from $80.00 to $75.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 5.32% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada dropped their price objective on shares of Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. UBS Group decreased their price target on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Canaccord Genuity Group upgraded Spectrum Brands from a “hold” rating to a “buy” rating and increased their price objective for the company from $94.00 to $102.00 in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.57.

Spectrum Brands Trading Up 0.1 %

SPB stock traded up $0.05 during midday trading on Wednesday, hitting $71.21. 19,082 shares of the company’s stock were exchanged, compared to its average volume of 428,748. The business has a 50-day simple moving average of $76.83 and a two-hundred day simple moving average of $85.23. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $1.87 billion, a PE ratio of 17.50, a P/E/G ratio of 1.70 and a beta of 1.20. Spectrum Brands has a 1-year low of $68.74 and a 1-year high of $96.74.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. During the same period in the prior year, the business posted $0.78 EPS. On average, sell-side analysts predict that Spectrum Brands will post 5.06 EPS for the current fiscal year.

Institutional Trading of Spectrum Brands

A number of institutional investors have recently modified their holdings of SPB. Steward Partners Investment Advisory LLC acquired a new position in Spectrum Brands during the fourth quarter worth $50,000. Quantbot Technologies LP acquired a new position in shares of Spectrum Brands during the 3rd quarter worth approximately $62,000. Quarry LP lifted its stake in Spectrum Brands by 70.9% in the 3rd quarter. Quarry LP now owns 974 shares of the company’s stock valued at $93,000 after buying an additional 404 shares in the last quarter. Blue Trust Inc. grew its holdings in Spectrum Brands by 46.5% during the 4th quarter. Blue Trust Inc. now owns 1,182 shares of the company’s stock valued at $100,000 after buying an additional 375 shares during the last quarter. Finally, KBC Group NV increased its position in Spectrum Brands by 46.3% during the fourth quarter. KBC Group NV now owns 1,233 shares of the company’s stock worth $104,000 after buying an additional 390 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.