Spectrum Brands (NYSE:SPB) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Spectrum Brands (NYSE:SPB) from a hold rating to a buy rating in a research note issued to investors on Friday morning, MarketBeat Ratings reports. They currently have $102.00 price objective on the stock, up from their previous price objective of $94.00.

Other research analysts have also issued reports about the stock. UBS Group dropped their price objective on shares of Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company dropped their price target on Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Spectrum Brands currently has an average rating of “Moderate Buy” and an average price target of $91.75.

Spectrum Brands Trading Up 2.3 %

NYSE:SPB opened at $78.19 on Friday. The company has a market capitalization of $2.14 billion, a PE ratio of 19.21, a P/E/G ratio of 1.36 and a beta of 1.20. Spectrum Brands has a 52-week low of $75.94 and a 52-week high of $96.74. The stock’s 50 day moving average price is $86.30 and its 200 day moving average price is $89.03. 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:SPB) last announced its earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.34%. During the same quarter last year, the firm earned $0.78 EPS. On average, research analysts anticipate that Spectrum Brands will post 5.17 EPS for the current year.

Spectrum Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.47 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.88 annualized dividend and a yield of 2.40%. Spectrum Brands’s dividend payout ratio is currently 46.19%.

Institutional Investors Weigh In On Spectrum Brands

A number of institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. lifted its holdings in shares of Spectrum Brands by 15.9% in the 3rd quarter. Citigroup Inc. now owns 41,048 shares of the company’s stock valued at $3,905,000 after buying an additional 5,641 shares during the period. Everence Capital Management Inc. purchased a new position in Spectrum Brands in the fourth quarter worth $553,000. SG Americas Securities LLC lifted its holdings in Spectrum Brands by 478.4% in the fourth quarter. SG Americas Securities LLC now owns 13,500 shares of the company’s stock valued at $1,141,000 after acquiring an additional 11,166 shares during the period. International Assets Investment Management LLC boosted its position in shares of Spectrum Brands by 9,420.0% during the 3rd quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock worth $45,000 after purchasing an additional 471 shares in the last quarter. Finally, Manning & Napier Advisors LLC grew its stake in shares of Spectrum Brands by 30.4% during the 4th quarter. Manning & Napier Advisors LLC now owns 150,000 shares of the company’s stock worth $12,674,000 after purchasing an additional 35,000 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.