Spectrum Brands Holdings, Inc. (NYSE:SPB)‘s stock had its “outperform” rating reaffirmed by research analysts at Wells Fargo & Company in a report issued on Tuesday, Marketbeat.com reports. They presently have a $125.00 price objective on the stock, down from their prior price objective of $147.00. Wells Fargo & Company’s target price points to a potential upside of 13.72% from the stock’s previous close.

The analysts wrote, “We are buyers on weakness and believe that L.T. growth ops and strong free cash flow (FCF) make SPB a core holding in broader Staples. SPB has lagged over the past 6m (-33% vs. the S&P500), owing to concerns around inventory destocking, category risk and that HRG’s ongoing strategic review process will result in a sub- optimal outcome for SPB shareholders. We think this presents opportunity as the market underappreciates: (1) SPB’s proven topline track record (12% 6yr CAGR thru ’16), including opportunistic M&A and above-category organic sales growth (we est. ~2-3% annually going forward) and (2) Best in class FCF conversion of 120-130%e over the L.T. via disciplined working capital and low capex (capex ~2% of sales).””

SPB has been the topic of a number of other research reports. BidaskClub downgraded Spectrum Brands Holdings from a “sell” rating to a “strong sell” rating in a report on Saturday, July 8th. Jefferies Group LLC restated a “buy” rating and issued a $150.00 price objective (down previously from $165.00) on shares of Spectrum Brands Holdings in a report on Thursday, July 6th. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $167.00 price objective on shares of Spectrum Brands Holdings in a report on Wednesday, August 30th. Zacks Investment Research upgraded Spectrum Brands Holdings from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $131.00 price objective (down previously from $149.00) on shares of Spectrum Brands Holdings in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. Spectrum Brands Holdings has a consensus rating of “Buy” and a consensus price target of $140.13.

Spectrum Brands Holdings (NYSE SPB) traded up 1.66% during midday trading on Tuesday, reaching $109.92. 343,033 shares of the company’s stock traded hands. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 22.51 and a beta of 0.65. The company’s 50-day moving average price is $106.14 and its 200 day moving average price is $119.69. Spectrum Brands Holdings has a 52 week low of $101.93 and a 52 week high of $146.09.

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A number of hedge funds have recently made changes to their positions in the business. Alps Advisors Inc. grew its holdings in Spectrum Brands Holdings by 0.3% during the second quarter. Alps Advisors Inc. now owns 3,445 shares of the company’s stock valued at $431,000 after purchasing an additional 9 shares during the last quarter. Cutter & CO Brokerage Inc. grew its holdings in Spectrum Brands Holdings by 1.5% during the second quarter. Cutter & CO Brokerage Inc. now owns 2,392 shares of the company’s stock valued at $299,000 after purchasing an additional 35 shares during the last quarter. HighTower Advisors LLC grew its holdings in Spectrum Brands Holdings by 3.3% during the first quarter. HighTower Advisors LLC now owns 2,083 shares of the company’s stock valued at $288,000 after purchasing an additional 66 shares during the last quarter. Commerce Bank grew its holdings in Spectrum Brands Holdings by 4.5% during the second quarter. Commerce Bank now owns 2,300 shares of the company’s stock valued at $288,000 after purchasing an additional 100 shares during the last quarter. Finally, Aperio Group LLC grew its holdings in Spectrum Brands Holdings by 4.2% during the second quarter. Aperio Group LLC now owns 2,887 shares of the company’s stock valued at $361,000 after purchasing an additional 116 shares during the last quarter. Institutional investors own 46.11% of the company’s stock.

Spectrum Brands Holdings Company Profile

Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.

Analyst Recommendations for Spectrum Brands Holdings (NYSE:SPB)

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