Jefferies Group LLC Reaffirms “Buy” Rating for Spectrum Brands Holdings, Inc. (SPB)
Jefferies Group LLC reaffirmed their buy rating on shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) in a research note released on Thursday morning. Jefferies Group LLC currently has a $142.00 price objective on the stock.
A number of other equities research analysts have also weighed in on the stock. Royal Bank Of Canada set a $155.00 target price on shares of Spectrum Brands Holdings and gave the company a buy rating in a research note on Friday, July 28th. KeyCorp set a $130.00 target price on shares of Spectrum Brands Holdings and gave the company a buy rating in a research note on Monday, October 16th. Wells Fargo & Company reaffirmed an outperform rating and set a $125.00 target price (down previously from $147.00) on shares of Spectrum Brands Holdings in a research note on Tuesday, October 31st. BidaskClub raised shares of Spectrum Brands Holdings from a strong sell rating to a sell rating in a research note on Saturday, August 26th. Finally, Canaccord Genuity reaffirmed a buy rating on shares of Spectrum Brands Holdings in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $137.25.
Shares of Spectrum Brands Holdings (NYSE:SPB) traded up $2.89 during trading on Thursday, reaching $112.39. 1,058,934 shares of the company’s stock were exchanged, compared to its average volume of 666,770. The company has a market cap of $6,476.59, a price-to-earnings ratio of 20.58, a PEG ratio of 1.79 and a beta of 0.75. Spectrum Brands Holdings has a 1-year low of $98.11 and a 1-year high of $146.09. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.95 and a current ratio of 1.88.
Spectrum Brands Holdings (NYSE:SPB) last announced its quarterly earnings results on Thursday, November 16th. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.12). The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. Spectrum Brands Holdings had a return on equity of 17.51% and a net margin of 5.91%. Spectrum Brands Holdings’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $1.31 EPS. sell-side analysts expect that Spectrum Brands Holdings will post 6.29 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Tuesday, November 28th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Monday, November 27th. This represents a $1.68 annualized dividend and a yield of 1.49%. Spectrum Brands Holdings’s dividend payout ratio (DPR) is presently 33.33%.
Institutional investors have recently modified their holdings of the business. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Spectrum Brands Holdings in the second quarter worth about $100,000. Daiwa Securities Group Inc. raised its holdings in shares of Spectrum Brands Holdings by 33.3% during the second quarter. Daiwa Securities Group Inc. now owns 800 shares of the company’s stock valued at $100,000 after purchasing an additional 200 shares during the last quarter. Pacad Investment Ltd. purchased a new position in shares of Spectrum Brands Holdings during the second quarter valued at approximately $113,000. Toronto Dominion Bank raised its holdings in shares of Spectrum Brands Holdings by 244.3% during the third quarter. Toronto Dominion Bank now owns 1,119 shares of the company’s stock valued at $119,000 after purchasing an additional 794 shares during the last quarter. Finally, FNY Partners Fund LP purchased a new position in shares of Spectrum Brands Holdings during the second quarter valued at approximately $187,000. 45.25% of the stock is owned by institutional investors and hedge funds.
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.
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