Spectrum Brands Holdings, Inc. (NYSE:SPB) Receives $100.75 Average Target Price from Brokerages

Spectrum Brands Holdings, Inc. (NYSE:SPB) has earned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $100.75.

A number of equities analysts recently issued reports on SPB shares. Canaccord Genuity Group raised their price objective on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a report on Monday, November 18th. Wells Fargo & Company cut their price objective on shares of Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, UBS Group decreased their target price on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a report on Thursday, January 16th.

Spectrum Brands Price Performance

NYSE SPB opened at $82.99 on Friday. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 1.51 and a beta of 1.20. Spectrum Brands has a 1-year low of $77.92 and a 1-year high of $96.74. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.30 and a quick ratio of 1.62. The business’s fifty day moving average price is $87.05 and its 200-day moving average price is $89.17.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Friday, November 15th. The company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.16). The firm had revenue of $773.70 million during the quarter, compared to the consensus estimate of $747.80 million. Spectrum Brands had a net margin of 4.21% and a return on equity of 6.16%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.36 EPS. On average, equities analysts predict that Spectrum Brands will post 5.17 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Tuesday, February 18th. Spectrum Brands’s dividend payout ratio is currently 46.08%.

Institutional Investors Weigh In On Spectrum Brands

A number of institutional investors and hedge funds have recently bought and sold shares of SPB. Harvey Partners LLC bought a new stake in Spectrum Brands during the 3rd quarter valued at approximately $19,837,000. Verition Fund Management LLC grew its holdings in Spectrum Brands by 295.5% during the 3rd quarter. Verition Fund Management LLC now owns 182,761 shares of the company’s stock valued at $17,388,000 after buying an additional 136,556 shares in the last quarter. Pzena Investment Management LLC raised its position in shares of Spectrum Brands by 10.4% during the third quarter. Pzena Investment Management LLC now owns 1,310,861 shares of the company’s stock valued at $124,715,000 after buying an additional 123,733 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of 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 worth $201,707,000 after buying an additional 112,530 shares in the last quarter. Finally, Cinctive Capital Management LP bought a new position in shares of Spectrum Brands during the third quarter worth $7,380,000.

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.