Spectrum Brands Holdings Inc. (SPB) Price Target Increased to $151.00 by Analysts at Monness Crespi & Hardt
Spectrum Brands Holdings Inc. (NYSE:SPB) had its price target increased by Monness Crespi & Hardt from $138.00 to $151.00 in a report released on Thursday. The brokerage presently has a “buy” rating on the stock. Monness Crespi & Hardt’s price objective would suggest a potential upside of 10.43% from the company’s current price.
A number of other brokerages have also issued reports on SPB. Zacks Investment Research raised Spectrum Brands Holdings from a “hold” rating to a “buy” rating and set a $153.00 price target on the stock in a research note on Thursday. Piper Jaffray Cos. initiated coverage on Spectrum Brands Holdings in a report on Thursday, September 1st. They issued an “overweight” rating and a $147.00 price objective on the stock. Jefferies Group restated a “buy” rating on shares of Spectrum Brands Holdings in a report on Thursday, August 25th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $140.00 price objective (up from $125.00) on shares of Spectrum Brands Holdings in a report on Sunday, July 24th. Eight investment analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average price target of $142.33.
Shares of Spectrum Brands Holdings (NYSE:SPB) opened at 136.74 on Thursday. Spectrum Brands Holdings has a 52 week low of $87.65 and a 52 week high of $136.81. The stock has a market cap of $8.12 billion, a P/E ratio of 27.78 and a beta of 0.77. The stock has a 50 day moving average of $131.51 and a 200 day moving average of $119.53.
Spectrum Brands Holdings (NYSE:SPB) last issued its quarterly earnings results on Thursday, July 28th. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.04. Spectrum Brands Holdings had a return on equity of 17.79% and a net margin of 5.44%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the company earned $1.42 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts expect that Spectrum Brands Holdings will post $0.54 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Tuesday, August 16th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, August 12th. This represents a $1.52 annualized dividend and a dividend yield of 1.11%. Spectrum Brands Holdings’s payout ratio is currently 32.69%.
In related news, insider David M. Maura bought 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were acquired at an average cost of $127.47 per share, for a total transaction of $254,940.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Stacey L. Neu sold 800 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $128.04, for a total value of $102,432.00. Following the sale, the senior vice president now owns 3,850 shares in the company, valued at $492,954. The disclosure for this sale can be found here. Corporate insiders own 0.95% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. GAM Holding AG acquired a new stake in shares of Spectrum Brands Holdings during the second quarter worth $101,000. Fulton Bank N.A. acquired a new stake in shares of Spectrum Brands Holdings during the second quarter worth $233,000. Legal & General Group Plc raised its stake in shares of Spectrum Brands Holdings by 29.5% in the first quarter. Legal & General Group Plc now owns 1,956 shares of the company’s stock worth $214,000 after buying an additional 446 shares during the period. Genesee Valley Trust Co. raised its stake in shares of Spectrum Brands Holdings by 9.3% in the second quarter. Genesee Valley Trust Co. now owns 2,064 shares of the company’s stock worth $246,000 after buying an additional 176 shares during the period. Finally, Paradigm Asset Management Co. LLC raised its stake in shares of Spectrum Brands Holdings by 5.0% in the second quarter. Paradigm Asset Management Co. LLC now owns 2,100 shares of the company’s stock worth $251,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 45.41% of the company’s stock.
Spectrum Brands Holdings Company Profile
Spectrum Brands Holdings, Inc (SBH) is a diversified consumer products company. The Company operates through five segments: Global Batteries & Appliances, Global Pet Supplies, Home and Garden, Hardware & Home Improvement, and Global Auto Care. The Company’s Global Batteries & Appliances segment includes consumer batteries, small appliances and personal care products.
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