Wells Fargo & Company Issues Pessimistic Forecast for Spectrum Brands (NYSE:SPB) Stock Price

Spectrum Brands (NYSE:SPB) had its price target cut by analysts at Wells Fargo & Company from $80.00 to $75.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 10.08% from the stock’s current price.

SPB has been the topic of several other reports. UBS Group decreased their price target 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. Royal Bank of Canada cut their target price on shares of Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Finally, Canaccord Genuity Group raised Spectrum Brands from a “hold” rating to a “buy” rating and boosted their price target for the stock from $94.00 to $102.00 in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.57.

Spectrum Brands Trading Down 4.6 %

Shares of SPB stock traded down $3.28 during mid-day trading on Wednesday, hitting $68.13. The company’s stock had a trading volume of 120,405 shares, compared to its average volume of 427,570. The company has a market cap of $1.79 billion, a PE ratio of 16.74, a P/E/G ratio of 1.70 and a beta of 1.20. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40. The company’s fifty day simple moving average is $76.55 and its 200-day simple moving average is $85.13. Spectrum Brands has a 52 week low of $67.16 and a 52 week high of $96.74.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. During the same period last year, the company posted $0.78 earnings per share. As a group, equities research analysts expect that Spectrum Brands will post 5.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spectrum Brands

Large investors have recently modified their holdings of the business. Citigroup Inc. increased 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 acquiring an additional 5,641 shares during the period. Quantbot Technologies LP bought a new position in Spectrum Brands in the third quarter worth about $62,000. Glenmede Trust Co. NA bought a new stake in shares of Spectrum Brands in the 3rd quarter valued at about $207,000. Centiva Capital LP purchased a new position in shares of Spectrum Brands in the 3rd quarter worth approximately $383,000. Finally, Point72 DIFC Ltd raised its stake in shares of Spectrum Brands by 2,137.5% during the 3rd quarter. Point72 DIFC Ltd now owns 6,198 shares of the company’s stock worth $590,000 after acquiring an additional 5,921 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.