Spectrum Brands (NYSE:SPB) Price Target Cut to $75.00 by Analysts at Wells Fargo & Company

Spectrum Brands (NYSE:SPB) had its price target lowered by equities researchers at Wells Fargo & Company from $80.00 to $75.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 5.32% from the stock’s previous close.

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

Spectrum Brands Trading Up 0.1 %

Spectrum Brands stock traded up $0.05 during midday trading on Wednesday, reaching $71.21. The stock had a trading volume of 19,082 shares, compared to its average volume of 428,748. The stock has a market capitalization of $1.87 billion, a PE ratio of 17.50, a price-to-earnings-growth 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 stock’s 50-day simple moving average is $76.83 and its 200 day simple moving average is $85.23. Spectrum Brands has a twelve month low of $68.74 and a twelve month high of $96.74.

Spectrum Brands (NYSE:SPB) last posted 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 6.44%. During the same quarter in the prior year, the firm posted $0.78 earnings per share. Analysts expect that Spectrum Brands will post 5.06 EPS for the current year.

Institutional Investors Weigh In On Spectrum Brands

Hedge funds and other institutional investors have recently modified their holdings of the stock. Man Group plc grew its stake in Spectrum Brands by 160.5% in the fourth quarter. Man Group plc now owns 320,178 shares of the company’s stock worth $27,052,000 after purchasing an additional 197,263 shares in the last quarter. Wealthfront Advisers LLC acquired a new position in shares of Spectrum Brands in the 4th quarter worth approximately $16,606,000. Two Sigma Advisers LP increased its holdings in shares of Spectrum Brands by 403.9% in the 4th quarter. Two Sigma Advisers LP now owns 233,800 shares of the company’s stock valued at $19,754,000 after acquiring an additional 187,400 shares during the last quarter. Trexquant Investment LP lifted its stake in Spectrum Brands by 2,541.2% during the fourth quarter. Trexquant Investment LP now owns 148,698 shares of the company’s stock worth $12,563,000 after purchasing an additional 143,068 shares during the last quarter. Finally, Callodine Capital Management LP boosted its holdings in Spectrum Brands by 29.8% in the fourth quarter. Callodine Capital Management LP now owns 527,500 shares of the company’s stock worth $44,568,000 after purchasing an additional 121,000 shares during the period.

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.