Analysts Set Spectrum Brands Holdings Inc. (NYSE:SPB) PT at $77.00

Spectrum Brands Holdings Inc. (NYSE:SPB) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $77.00.

A number of analysts have recently commented on SPB shares. Royal Bank Of Canada set a $75.00 target price on shares of Spectrum Brands and gave the company an “outperform” rating in a report on Monday, August 11th. Wells Fargo & Company lifted their price target on shares of Spectrum Brands from $55.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, November 14th. Canaccord Genuity Group upped their price objective on shares of Spectrum Brands from $75.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Spectrum Brands in a research note on Wednesday, November 19th. Finally, Wall Street Zen upgraded shares of Spectrum Brands from a “sell” rating to a “hold” rating in a report on Tuesday, November 18th.

Spectrum Brands Stock Down 0.5%

Shares of NYSE:SPB opened at $59.35 on Friday. The firm has a market capitalization of $1.39 billion, a P/E ratio of 14.99 and a beta of 0.72. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.41 and a current ratio of 2.26. The stock has a 50 day moving average price of $54.35 and a 200-day moving average price of $55.38. Spectrum Brands has a 52-week low of $49.99 and a 52-week high of $96.62.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Thursday, November 13th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $0.77 by $1.84. The company had revenue of $733.50 million for the quarter, compared to analyst estimates of $738.57 million. Spectrum Brands had a return on equity of 7.29% and a net margin of 3.56%.The firm’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 earnings per share. As a group, equities research analysts anticipate that Spectrum Brands will post 5.06 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Monday, November 24th will be paid a dividend of $0.47 per share. The ex-dividend date is Monday, November 24th. This represents a $1.88 dividend on an annualized basis and a yield of 3.2%. Spectrum Brands’s payout ratio is presently 47.47%.

Institutional Investors Weigh In On Spectrum Brands

A number of institutional investors have recently modified their holdings of SPB. Nisa Investment Advisors LLC increased its holdings in Spectrum Brands by 13.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,767 shares of the company’s stock worth $94,000 after purchasing an additional 215 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Spectrum Brands by 120.3% in the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock worth $26,000 after buying an additional 267 shares during the period. Blue Trust Inc. grew its position in shares of Spectrum Brands by 44.8% during the 2nd quarter. Blue Trust Inc. now owns 1,060 shares of the company’s stock worth $56,000 after buying an additional 328 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Spectrum Brands by 7,237.5% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock valued at $31,000 after buying an additional 579 shares during the period. Finally, MQS Management LLC increased its stake in shares of Spectrum Brands by 13.6% during the second quarter. MQS Management LLC now owns 5,365 shares of the company’s stock valued at $284,000 after buying an additional 642 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.