Spectrum Brands Holdings Inc. (SPB) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Spectrum Brands Holdings Inc. (NYSE:SPB) from a hold rating to a buy rating in a research report sent to investors on Thursday. Zacks Investment Research currently has $153.00 price objective on the stock.
According to Zacks, “Spectrum Brands, Inc. and its subsidiaries operate as a global branded consumer products company. The Company has three reportable segments: Global Batteries & Personal Care; Global Pet Supplies; and Home and Garden Business. Its operations include the manufacturing and marketing of alkaline, zinc carbon and hearing aid batteries, as well as aquariums and aquatic health supplies and the designing and marketing of rechargeable batteries, battery-powered lighting products, electric shavers and accessories, grooming products and hair care appliances. The Company also provides specialty pet supplies and also herbicides, insecticides and repellents. Its portfolio of brands are Rayovac(R), Remington(R), VARTA(R), Tetra(R), Marineland(R), Nature’s Miracle(R), Dingo(R), 8-in-1(R), Spectracide(R), Cutter(R), Repel(R), and HotShot(R) with manufacturing and product development facilities located in the U.S., Europe, Asia and Latin America. Spectrum Brands, Inc. is headquartered in Atlanta, Georgia. “
SPB has been the subject of a number of other research reports. Jefferies Group reissued a buy rating on shares of Spectrum Brands Holdings in a report on Thursday, August 25th. Piper Jaffray Cos. started coverage on shares of Spectrum Brands Holdings in a report on Thursday, September 1st. They issued an overweight rating and a $147.00 price objective for the company. Deutsche Bank AG reissued a buy rating and issued a $140.00 price objective (up previously from $125.00) on shares of Spectrum Brands Holdings in a report on Sunday, July 24th. Finally, Monness Crespi & Hardt upped their price target on shares of Spectrum Brands Holdings from $125.00 to $138.00 and gave the stock a buy rating in a report on Friday, July 29th. Eight equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of Buy and a consensus target price of $142.33.
Spectrum Brands Holdings (NYSE:SPB) traded up 0.85% during midday trading on Thursday, hitting $137.50. 95,918 shares of the company traded hands. The stock’s 50-day moving average price is $131.61 and its 200 day moving average price is $119.65. Spectrum Brands Holdings has a 12-month low of $87.65 and a 12-month high of $137.97. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 27.94 and a beta of 0.77.
Spectrum Brands Holdings (NYSE:SPB) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.04. The firm earned $1.36 billion during the quarter, compared to the consensus estimate of $1.36 billion. Spectrum Brands Holdings had a net margin of 5.44% and a return on equity of 17.79%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.42 EPS. On average, equities analysts forecast that Spectrum Brands Holdings will post $0.54 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Tuesday, August 16th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.11%. The ex-dividend date was Friday, August 12th. Spectrum Brands Holdings’s dividend payout ratio (DPR) is currently 32.69%.
In other Spectrum Brands Holdings news, SVP Stacey L. Neu sold 800 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $128.04, for a total value of $102,432.00. Following the completion of the transaction, the senior vice president now directly owns 3,850 shares in the company, valued at approximately $492,954. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David M. Maura acquired 2,000 shares of Spectrum Brands Holdings stock in a transaction dated Thursday, September 15th. The stock was purchased at an average cost of $127.47 per share, for a total transaction of $254,940.00. The disclosure for this purchase can be found here. 0.95% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. GAM Holding AG purchased a new stake in Spectrum Brands Holdings during the second quarter worth approximately $101,000. Legal & General Group Plc raised its stake in 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 in the last quarter. Fulton Bank N.A. purchased a new stake in Spectrum Brands Holdings during the second quarter worth approximately $233,000. Royal Bank of Canada raised its stake in Spectrum Brands Holdings by 272.1% in the first quarter. Royal Bank of Canada now owns 2,173 shares of the company’s stock worth $238,000 after buying an additional 1,589 shares in the last quarter. Finally, Genesee Valley Trust Co. raised its stake in 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 in the last quarter. 45.41% of the stock is currently owned by institutional investors.
About Spectrum Brands Holdings
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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