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

Shares of Spectrum Brands Holdings Inc. (NYSE:SPB) have received a consensus recommendation of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $77.00.

A number of equities analysts have recently issued reports on SPB shares. Canaccord Genuity Group increased their target price on Spectrum Brands from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Wall Street Zen raised Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Spectrum Brands in a research note on Monday. Finally, Wells Fargo & Company lifted their target price on shares of Spectrum Brands from $55.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 14th.

Spectrum Brands Stock Performance

NYSE:SPB opened at $59.79 on Tuesday. Spectrum Brands has a 12 month low of $49.99 and a 12 month high of $87.23. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.26 and a quick ratio of 1.41. The firm has a market capitalization of $1.40 billion, a PE ratio of 15.10 and a beta of 0.73. The business’s fifty day moving average price is $57.06 and its 200 day moving average price is $55.50.

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

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Monday, November 24th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Monday, November 24th. Spectrum Brands’s dividend payout ratio is presently 47.47%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Invesco Ltd. boosted its holdings in Spectrum Brands by 1.4% in the 1st quarter. Invesco Ltd. now owns 83,110 shares of the company’s stock worth $5,947,000 after acquiring an additional 1,122 shares during the period. Northern Trust Corp raised its stake in shares of Spectrum Brands by 2.0% during the first quarter. Northern Trust Corp now owns 184,086 shares of the company’s stock valued at $13,171,000 after purchasing an additional 3,556 shares during the period. Capital Fund Management S.A. acquired a new position in shares of Spectrum Brands during the first quarter worth $2,599,000. CW Advisors LLC boosted its stake in shares of Spectrum Brands by 48.3% in the first quarter. CW Advisors LLC now owns 16,767 shares of the company’s stock valued at $1,200,000 after purchasing an additional 5,458 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Spectrum Brands in the first quarter valued at $2,802,000.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.