Spectrum Brands (NYSE:SPB) PT Raised to $106.00 at Monness Crespi & Hardt

Spectrum Brands (NYSE:SPB) had its target price raised by stock analysts at Monness Crespi & Hardt from $98.00 to $106.00 in a research report issued to clients and investors on Friday, Briefing.com reports. The firm presently has a “buy” rating on the stock. Monness Crespi & Hardt’s price target points to a potential upside of 12.04% from the stock’s previous close.

A number of other equities analysts have also issued reports on the company. Royal Bank of Canada increased their price objective on Spectrum Brands from $89.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Canaccord Genuity Group cut Spectrum Brands from a “buy” rating to a “hold” rating and increased their price target for the stock from $83.00 to $86.00 in a research note on Friday, February 9th. Canaccord Genuity Group reiterated a “hold” rating and issued a $86.00 target price (up previously from $83.00) on shares of Spectrum Brands in a research report on Friday, February 9th. Finally, Wells Fargo & Company boosted their price target on shares of Spectrum Brands from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Spectrum Brands has a consensus rating of “Hold” and a consensus price target of $92.60.

Spectrum Brands Stock Up 11.9 %

NYSE:SPB opened at $94.61 on Friday. The company has a current ratio of 3.36, a quick ratio of 2.75 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average of $83.58 and a 200-day moving average of $79.58. The firm has a market capitalization of $2.86 billion, a PE ratio of 2.05, a price-to-earnings-growth ratio of 0.59 and a beta of 1.20. Spectrum Brands has a 52 week low of $65.27 and a 52 week high of $95.27.

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

Institutional Trading of Spectrum Brands

Hedge funds have recently bought and sold shares of the company. LSV Asset Management purchased a new position in Spectrum Brands during the 4th quarter valued at about $35,216,000. AQR Capital Management LLC increased its stake in Spectrum Brands by 1,376.7% in the 3rd quarter. AQR Capital Management LLC now owns 320,091 shares of the company’s stock valued at $25,079,000 after buying an additional 298,415 shares during the period. Norges Bank purchased a new stake in Spectrum Brands in the 4th quarter worth approximately $20,652,000. Pzena Investment Management LLC boosted its stake in shares of Spectrum Brands by 21.7% during the 1st quarter. Pzena Investment Management LLC now owns 1,315,483 shares of the company’s stock valued at $117,091,000 after buying an additional 234,784 shares during the period. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in shares of Spectrum Brands in the third quarter worth $13,127,000.

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.