Zacks Investment Research Downgrades Spectrum Brands Holdings Inc. (SPB) to Hold
Spectrum Brands Holdings Inc. (NYSE:SPB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
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. “
A number of other analysts have also weighed in on SPB. Jefferies Group set a $154.00 price objective on shares of Spectrum Brands Holdings and gave the stock a “buy” rating in a research report on Saturday, November 19th. Piper Jaffray Cos. assumed coverage on shares of Spectrum Brands Holdings in a research report on Thursday, September 1st. They issued an “overweight” rating and a $147.00 price objective on the stock. Finally, Monness Crespi & Hardt increased their price objective 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. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $141.50.
Spectrum Brands Holdings (NYSE:SPB) opened at 121.65 on Tuesday. The company has a 50-day moving average price of $132.18 and a 200 day moving average price of $125.95. The company has a market capitalization of $7.23 billion, a PE ratio of 20.31 and a beta of 0.71. Spectrum Brands Holdings has a 52-week low of $87.65 and a 52-week high of $138.95.
Spectrum Brands Holdings (NYSE:SPB) last posted its quarterly earnings data on Thursday, November 17th. The company reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.02. Spectrum Brands Holdings had a net margin of 6.74% and a return on equity of 17.80%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the company posted $1.13 EPS. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. Equities research analysts anticipate that Spectrum Brands Holdings will post $5.80 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Monday, November 28th. Spectrum Brands Holdings’s dividend payout ratio (DPR) is presently 26.67%.
In related news, insider David M. Maura bought 2,000 shares of Spectrum Brands Holdings stock in a transaction dated Thursday, September 15th. The shares were acquired at an average cost of $127.47 per share, with a total value of $254,940.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.95% of the company’s stock.
Institutional investors have recently modified their holdings of the company. GAM Holding AG bought a new position in shares of Spectrum Brands Holdings during the second quarter worth approximately $101,000. Public Employees Retirement Association of Colorado raised its position in shares of Spectrum Brands Holdings by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 792 shares of the company’s stock valued at $109,000 after buying an additional 3 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Spectrum Brands Holdings during the third quarter valued at about $111,000. Riverhead Capital Management LLC acquired a new position in shares of Spectrum Brands Holdings during the third quarter valued at about $124,000. Finally, Acrospire Investment Management LLC raised its position in shares of Spectrum Brands Holdings by 150.0% in the third quarter. Acrospire Investment Management LLC now owns 1,000 shares of the company’s stock valued at $138,000 after buying an additional 600 shares during the last quarter. 47.28% of the stock is currently owned by institutional investors and hedge funds.
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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.
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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