Spectrum Brands Holdings, Inc. (NYSE:SPB) Given Average Rating of “Hold” by Brokerages

Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) have earned a consensus recommendation of “Hold” from the seven analysts that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $98.43.

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Spectrum Brands from $85.00 to $91.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Wells Fargo & Company reduced their price objective on shares of Spectrum Brands from $95.00 to $87.00 and set an “equal weight” rating for the company in a report on Wednesday. Canaccord Genuity Group reduced their price objective on shares of Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a report on Monday, July 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $114.00 price objective on shares of Spectrum Brands in a report on Friday, June 7th. Finally, Oppenheimer raised their price objective on shares of Spectrum Brands from $88.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, May 10th.

Institutional Investors Weigh In On Spectrum Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC bought a new position in Spectrum Brands during the 4th quarter worth approximately $3,949,000. Great Lakes Advisors LLC lifted its stake in Spectrum Brands by 50.0% in the fourth quarter. Great Lakes Advisors LLC now owns 324,413 shares of the company’s stock valued at $25,878,000 after buying an additional 108,076 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Spectrum Brands in the fourth quarter valued at approximately $1,424,000. Redwood Investment Management LLC lifted its stake in Spectrum Brands by 273.6% in the fourth quarter. Redwood Investment Management LLC now owns 76,092 shares of the company’s stock valued at $6,070,000 after buying an additional 55,727 shares in the last quarter. Finally, Capstone Investment Advisors LLC lifted its stake in Spectrum Brands by 369.2% in the first quarter. Capstone Investment Advisors LLC now owns 13,298 shares of the company’s stock valued at $1,184,000 after buying an additional 10,464 shares in the last quarter.

Spectrum Brands Price Performance

Shares of Spectrum Brands stock opened at $81.23 on Thursday. The firm has a fifty day simple moving average of $88.98 and a 200-day simple moving average of $84.23. The company has a current ratio of 3.73, a quick ratio of 3.05 and a debt-to-equity ratio of 0.61. Spectrum Brands has a 1-year low of $65.27 and a 1-year high of $96.74. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 1.64, a PEG ratio of 0.37 and a beta of 1.19.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, May 9th. The company reported $1.62 EPS for the quarter, beating the consensus estimate of $0.49 by $1.13. The firm had revenue of $718.50 million during the quarter, compared to analysts’ expectations of $708.54 million. Spectrum Brands had a net margin of 68.11% and a return on equity of 6.43%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.14) EPS. On average, sell-side analysts expect that Spectrum Brands will post 4.68 earnings per share for the current year.

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, May 28th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Friday, May 24th. Spectrum Brands’s payout ratio is presently 3.40%.

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.