Spectrum Brands Holdings Inc (NYSE:SPB) Receives Average Rating of “Buy” from Brokerages
Shares of Spectrum Brands Holdings Inc (NYSE:SPB) have been assigned a consensus rating of “Buy” from the thirteen brokerages that are presently covering the company, MarketBeat reports. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $54.19.
Several equities research analysts recently commented on the stock. Royal Bank of Canada reiterated a “buy” rating and set a $68.00 target price on shares of Spectrum Brands in a research report on Sunday. Zacks Investment Research downgraded shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Wells Fargo & Co restated a “hold” rating and issued a $53.00 price target on shares of Spectrum Brands in a research report on Wednesday, August 7th. Monness Crespi & Hardt restated a “buy” rating and issued a $77.00 price target (up previously from $64.00) on shares of Spectrum Brands in a research report on Thursday, May 9th. Finally, Deutsche Bank dropped their price target on shares of Spectrum Brands from $60.00 to $56.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th.
NYSE:SPB traded down $1.03 during mid-day trading on Wednesday, hitting $48.91. 263,840 shares of the company’s stock were exchanged, compared to its average volume of 503,529. The stock’s 50 day moving average is $51.24. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.60 and a quick ratio of 0.82. Spectrum Brands has a fifty-two week low of $40.54 and a fifty-two week high of $92.72. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 3.12 and a beta of 1.82.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 22nd will be given a $0.42 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.43%. Spectrum Brands’s dividend payout ratio (DPR) is currently 47.46%.
In other news, insider David M. Maura purchased 20,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average price of $50.43 per share, for a total transaction of $1,008,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.40% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in SPB. FMR LLC increased its stake in shares of Spectrum Brands by 14.3% in the 1st quarter. FMR LLC now owns 7,895,443 shares of the company’s stock valued at $432,511,000 after acquiring an additional 986,101 shares in the last quarter. Pzena Investment Management LLC bought a new stake in Spectrum Brands during the 1st quarter valued at $33,401,000. State of New Jersey Common Pension Fund D bought a new stake in Spectrum Brands during the 2nd quarter valued at $23,659,000. Norges Bank bought a new stake in Spectrum Brands during the 4th quarter valued at $16,899,000. Finally, Teacher Retirement System of Texas increased its stake in Spectrum Brands by 69.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 552,843 shares of the company’s stock valued at $29,726,000 after purchasing an additional 226,319 shares in the last quarter.
Spectrum Brands Company Profile
Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware, Stanley, and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell brands; and plumbing products under the Pfister brand.
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