Spectrum Brands Holdings Inc. (SPB) Raised to Buy at Zacks Investment Research
Spectrum Brands Holdings Inc. (NYSE:SPB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday. The brokerage currently has a $151.00 target price on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 11.92% from the stock’s current price.
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 research analysts have also recently commented on SPB. Jefferies Group reaffirmed a “buy” rating on shares of Spectrum Brands Holdings in a report on Thursday, August 25th. Monness Crespi & Hardt increased their price target on shares of Spectrum Brands Holdings from $125.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Deutsche Bank AG reiterated a “buy” rating and set a $140.00 price target (up previously from $125.00) on shares of Spectrum Brands Holdings in a research report on Sunday, July 24th. Finally, Piper Jaffray Cos. initiated coverage on shares of Spectrum Brands Holdings in a research report on Thursday, September 1st. They set an “overweight” rating and a $147.00 price target on the stock. Eight research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus price target of $142.50.
Spectrum Brands Holdings (NYSE:SPB) opened at 134.92 on Friday. Spectrum Brands Holdings has a 52-week low of $87.65 and a 52-week high of $138.95. The company has a 50-day moving average of $132.75 and a 200 day moving average of $121.79. The company has a market cap of $8.01 billion, a PE ratio of 27.41 and a beta of 0.65.
Spectrum Brands Holdings (NYSE:SPB) last released its quarterly earnings results 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 revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.42 EPS. Equities research analysts predict that Spectrum Brands Holdings will post $0.53 EPS for the current year.
In other Spectrum Brands Holdings news, SVP Stacey L. Neu sold 800 shares of the firm’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 sale, the senior vice president now owns 3,850 shares in the company, valued at $492,954. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David M. Maura bought 2,000 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was bought at an average price 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.
Hedge funds have recently modified their holdings of the stock. FMR LLC raised its position in shares of Spectrum Brands Holdings by 42.5% in the second quarter. FMR LLC now owns 2,707,671 shares of the company’s stock worth $323,052,000 after buying an additional 806,895 shares during the period. Vanguard Group Inc. raised its position in shares of Spectrum Brands Holdings by 3.0% in the second quarter. Vanguard Group Inc. now owns 1,907,356 shares of the company’s stock worth $227,566,000 after buying an additional 55,451 shares during the period. JPMorgan Chase & Co. raised its position in shares of Spectrum Brands Holdings by 2.4% in the second quarter. JPMorgan Chase & Co. now owns 1,133,028 shares of the company’s stock worth $135,181,000 after buying an additional 27,063 shares during the period. First Trust Advisors LP raised its position in shares of Spectrum Brands Holdings by 58.6% in the second quarter. First Trust Advisors LP now owns 1,073,829 shares of the company’s stock worth $128,119,000 after buying an additional 396,790 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of Spectrum Brands Holdings by 7.7% in the second quarter. Bessemer Group Inc. now owns 973,027 shares of the company’s stock worth $116,092,000 after buying an additional 69,462 shares during the period. Hedge funds and other institutional investors 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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