Spectrum Brands Holdings Inc. (SPB) Stock Rating Upgraded by 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 note issued on Saturday. The brokerage currently has a $151.00 price target on the stock. Zacks Investment Research’s price target indicates a potential upside of 11.92% from the company’s previous close.
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 firms have also commented on SPB. Jefferies Group raised their price objective on Spectrum Brands Holdings from $157.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday. Monness Crespi & Hardt lifted their target price on Spectrum Brands Holdings from $138.00 to $151.00 and gave the stock a “buy” rating in a research report on Thursday, September 29th. Piper Jaffray Cos. assumed coverage on Spectrum Brands Holdings in a research report on Thursday, September 1st. They set an “overweight” rating and a $147.00 target price on the stock. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $140.00 target price (up from $125.00) on shares of Spectrum Brands Holdings in a research report on Sunday, July 24th. Eight analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average target price of $142.50.
Shares of Spectrum Brands Holdings (NYSE:SPB) opened at 134.92 on Friday. Spectrum Brands Holdings has a 12 month low of $87.65 and a 12 month high of $138.95. The firm has a market capitalization of $8.01 billion, a PE ratio of 27.41 and a beta of 0.65. The company has a 50 day moving average price of $132.75 and a 200-day moving average price of $121.79.
Spectrum Brands Holdings (NYSE:SPB) last issued its earnings results on Thursday, July 28th. The company reported $1.73 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 analysts’ expectations of $1.36 billion. During the same quarter last year, the firm earned $1.42 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities research analysts expect that Spectrum Brands Holdings will post $0.53 EPS for the current fiscal year.
In related news, SVP Stacey L. Neu sold 800 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $128.04, for a total value of $102,432.00. Following the completion of the sale, the senior vice president now directly owns 3,850 shares of the company’s stock, valued at $492,954. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David M. Maura acquired 2,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The stock was purchased at an average cost of $127.47 per share, with a total value of $254,940.00. The disclosure for this purchase can be found here. 0.95% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in SPB. FMR LLC raised its stake 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 valued at $323,052,000 after buying an additional 806,895 shares in the last quarter. Vanguard Group Inc. increased 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 last quarter. JPMorgan Chase & Co. increased 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 last quarter. First Trust Advisors LP increased 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 last quarter. Finally, Bessemer Group Inc. increased 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 last quarter. 45.41% of the stock is owned by hedge funds and other 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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