Spectrum Brands Holdings Inc. (NYSE:SPB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Spectrum Brands Holdings Inc. (NYSE:SPB) have earned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $77.00.

SPB has been the subject of several research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Spectrum Brands in a research note on Monday, December 29th. Wells Fargo & Company lifted their price objective on Spectrum Brands from $55.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, November 14th. Wall Street Zen upgraded Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, Canaccord Genuity Group raised their target price on Spectrum Brands from $75.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, November 17th.

Spectrum Brands Stock Performance

Shares of SPB opened at $63.81 on Friday. The company has a market capitalization of $1.49 billion, a PE ratio of 16.11 and a beta of 0.69. 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 company’s 50 day moving average price is $59.89 and its 200 day moving average price is $56.60. Spectrum Brands has a 52 week low of $49.99 and a 52 week high of $87.23.

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

Spectrum Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Monday, November 24th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, November 24th. Spectrum Brands’s dividend payout ratio (DPR) is currently 47.47%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Pzena Investment Management LLC raised its position in Spectrum Brands by 66.8% in the 3rd quarter. Pzena Investment Management LLC now owns 2,459,485 shares of the company’s stock valued at $129,197,000 after purchasing an additional 985,034 shares during the last quarter. American Century Companies Inc. lifted its position in Spectrum Brands by 14.5% during the 3rd quarter. American Century Companies Inc. now owns 2,052,850 shares of the company’s stock worth $107,836,000 after buying an additional 260,085 shares in the last quarter. Callodine Capital Management LP grew its holdings in Spectrum Brands by 26.7% during the 3rd quarter. Callodine Capital Management LP now owns 1,714,955 shares of the company’s stock worth $90,087,000 after acquiring an additional 360,898 shares during the last quarter. Geode Capital Management LLC increased its position in Spectrum Brands by 39.6% in the 2nd quarter. Geode Capital Management LLC now owns 606,272 shares of the company’s stock valued at $32,137,000 after acquiring an additional 172,132 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in shares of Spectrum Brands by 71.2% in the second quarter. Qube Research & Technologies Ltd now owns 539,728 shares of the company’s stock worth $28,606,000 after acquiring an additional 224,481 shares during the last quarter.

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.