Spectrum Brands (NYSE:SPB) Sees Large Volume Increase

Spectrum Brands Holdings, Inc. (NYSE:SPB) shares saw an uptick in trading volume on Tuesday . 629,790 shares were traded during mid-day trading, an increase of 62% from the previous session’s volume of 388,112 shares.The stock last traded at $94.42 and had previously closed at $93.74.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SPB. Monness Crespi & Hardt lifted their target price on Spectrum Brands from $98.00 to $106.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Wells Fargo & Company boosted their price objective on shares of Spectrum Brands from $85.00 to $95.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. Canaccord Genuity Group lifted their price target on shares of Spectrum Brands from $86.00 to $92.00 and gave the company a “hold” rating in a research report on Friday, May 10th. Oppenheimer increased their price objective on shares of Spectrum Brands from $88.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Finally, Royal Bank of Canada boosted their target price on Spectrum Brands from $100.00 to $114.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $99.86.

Spectrum Brands Price Performance

The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.05 and a current ratio of 3.73. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 1.87, a PEG ratio of 0.41 and a beta of 1.20. The company has a 50 day moving average of $85.65 and a 200 day moving average of $80.76.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Thursday, May 9th. The company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $1.13. The company had revenue of $718.50 million during the quarter, compared to the consensus estimate of $708.54 million. Spectrum Brands had a net margin of 68.11% and a return on equity of 6.43%. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. As a group, equities research analysts anticipate that Spectrum Brands Holdings, Inc. will post 4.68 EPS for the current year.

Spectrum Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, May 28th will be paid a $0.42 dividend. The ex-dividend date is Friday, May 24th. This represents a $1.68 annualized dividend and a yield of 1.82%. Spectrum Brands’s dividend payout ratio is currently 3.40%.

Institutional Investors Weigh In On Spectrum Brands

A number of institutional investors and hedge funds have recently bought and sold shares of SPB. Fidelis Capital Partners LLC purchased a new stake in shares of Spectrum Brands in the 1st quarter valued at about $27,000. Central Pacific Bank Trust Division acquired a new stake in Spectrum Brands in the 1st quarter valued at about $30,000. Larson Financial Group LLC lifted its holdings in shares of Spectrum Brands by 72.6% in the fourth quarter. Larson Financial Group LLC now owns 359 shares of the company’s stock valued at $29,000 after purchasing an additional 151 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Spectrum Brands by 1,713.6% in the 4th quarter. International Assets Investment Management LLC now owns 399 shares of the company’s stock worth $32,000 after buying an additional 377 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Spectrum Brands by 53.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the company’s stock valued at $36,000 after buying an additional 160 shares during the period.

Spectrum Brands Company Profile

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.