Spectrum Brands Holdings Inc. (SPB) Lowered to Hold at Zacks Investment Research
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. “
Several other equities analysts have also commented on SPB. Jefferies Group increased their target price on shares of Spectrum Brands Holdings from $147.00 to $157.00 and gave the company a buy rating in a report on Friday, July 29th. Piper Jaffray Cos. began coverage on shares of Spectrum Brands Holdings in a report on Thursday, September 1st. They set an overweight rating and a $147.00 target price on the stock. Monness Crespi & Hardt increased their target price on shares of Spectrum Brands Holdings from $125.00 to $138.00 and gave the company a buy rating in a report on Friday, July 29th. Finally, Deutsche Bank AG reaffirmed a buy rating and set a $140.00 target price (up previously from $125.00) on shares of Spectrum Brands Holdings in a report on Sunday, July 24th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $142.33.
Spectrum Brands Holdings (NYSE:SPB) opened at 133.09 on Tuesday. The company has a market cap of $7.91 billion, a PE ratio of 27.04 and a beta of 0.65. Spectrum Brands Holdings has a 12-month low of $87.65 and a 12-month high of $138.95. The company’s 50-day moving average price is $132.49 and its 200-day moving average price is $121.41.
Spectrum Brands Holdings (NYSE:SPB) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.04. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the company posted $1.42 EPS. Equities analysts anticipate that Spectrum Brands Holdings will post $0.53 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Tuesday, August 16th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Friday, August 12th. Spectrum Brands Holdings’s payout ratio is 32.69%.
In other Spectrum Brands Holdings news, insider David M. Maura purchased 2,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The stock was bought at an average cost of $127.47 per share, with a total value of $254,940.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Stacey L. Neu sold 800 shares of Spectrum Brands Holdings stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $128.04, for a total transaction of $102,432.00. Following the transaction, the senior vice president now directly owns 3,850 shares of the company’s stock, valued at $492,954. The disclosure for this sale can be found here. Insiders own 0.95% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of SPB. GAM Holding AG acquired a new position in shares of Spectrum Brands Holdings during the second quarter worth about $101,000. Fulton Bank N.A. acquired a new position in shares of Spectrum Brands Holdings during the second quarter worth about $233,000. Royal Bank of Canada boosted its position in shares of 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 during the period. Legal & General Group Plc boosted its position in shares of Spectrum Brands Holdings by 3.9% in the second quarter. Legal & General Group Plc now owns 2,033 shares of the company’s stock worth $243,000 after buying an additional 77 shares during the period. Finally, Genesee Valley Trust Co. boosted its position 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. 45.41% of the stock is owned by institutional investors.
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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