Spectrum Brands Holdings, Inc. (NYSE:SPB) Given Average Recommendation of “Hold” by Brokerages

Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) have been given an average rating of “Hold” by the five ratings firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $89.17.

Several research firms have recently issued reports on SPB. Canaccord Genuity Group downgraded shares of Spectrum Brands from a “buy” rating to a “hold” rating and upped their price objective for the company from $83.00 to $86.00 in a report on Friday, February 9th. Monness Crespi & Hardt increased their price target on shares of Spectrum Brands from $87.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Canaccord Genuity Group reiterated a “hold” rating and issued a $86.00 price target (up previously from $83.00) on shares of Spectrum Brands in a report on Friday, February 9th. Royal Bank of Canada increased their price target on shares of Spectrum Brands from $89.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Finally, Wells Fargo & Company increased their price target on shares of Spectrum Brands from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th.

Spectrum Brands Stock Performance

Shares of Spectrum Brands stock opened at $81.87 on Friday. The company has a market capitalization of $2.48 billion, a PE ratio of 1.78, a P/E/G ratio of 0.57 and a beta of 1.20. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.75 and a current ratio of 3.36. The company has a 50-day simple moving average of $82.85 and a two-hundred day simple moving average of $79.20. Spectrum Brands has a one year low of $64.82 and a one year high of $89.64.

Spectrum Brands (NYSE:SPB) last announced its earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.47. The business had revenue of $692.20 million during the quarter, compared to the consensus estimate of $674.20 million. Spectrum Brands had a net margin of 63.89% and a return on equity of 4.66%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.32) earnings per share. Research analysts expect that Spectrum Brands will post 3.79 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 20th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Friday, February 16th. Spectrum Brands’s dividend payout ratio (DPR) is presently 3.65%.

Institutional Trading of Spectrum Brands

Hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. acquired a new position in Spectrum Brands during the fourth quarter worth approximately $1,424,000. Qube Research & Technologies Ltd acquired a new stake in Spectrum Brands during the third quarter worth about $4,452,000. Fifth Third Bancorp acquired a new stake in shares of Spectrum Brands in the fourth quarter valued at about $71,000. California Public Employees Retirement System grew its stake in Spectrum Brands by 32.5% during the 3rd quarter. California Public Employees Retirement System now owns 72,330 shares of the company’s stock valued at $5,667,000 after purchasing an additional 17,753 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in Spectrum Brands by 5.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 152,745 shares of the company’s stock valued at $11,968,000 after purchasing an additional 8,431 shares in the last quarter.

About Spectrum Brands

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.