Spectrum Brands (NYSE:SPB) Earns Outperform Rating from Royal Bank Of Canada

Spectrum Brands (NYSE:SPB)‘s stock had its “outperform” rating reiterated by research analysts at Royal Bank Of Canada in a report released on Tuesday,Benzinga reports. They presently have a $75.00 target price on the stock. Royal Bank Of Canada’s target price points to a potential upside of 12.17% from the company’s previous close.

SPB has been the subject of several other reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Spectrum Brands in a research report on Monday, December 29th. Wall Street Zen upgraded Spectrum Brands from a “sell” rating to a “hold” rating in a report on Tuesday, November 18th. Wells Fargo & Company raised their target price on Spectrum Brands from $55.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, November 14th. Finally, Canaccord Genuity Group boosted their target price on shares of Spectrum Brands from $75.00 to $84.00 and gave the company a “buy” rating in a report on Monday, November 17th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.00.

Spectrum Brands Trading Up 1.9%

Shares of NYSE SPB traded up $1.23 during mid-day trading on Tuesday, hitting $66.86. The stock had a trading volume of 94,617 shares, compared to its average volume of 322,112. The firm has a market cap of $1.56 billion, a P/E ratio of 16.85 and a beta of 0.68. 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 business has a 50 day moving average price of $61.19 and a two-hundred day moving average price of $57.07. Spectrum Brands has a 1 year low of $49.99 and a 1 year high of $83.50.

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 analysts’ consensus estimates of $0.77 by $1.84. Spectrum Brands had a net margin of 3.56% and a return on equity of 7.29%. The firm had revenue of $733.50 million for the quarter, compared to analysts’ expectations of $738.57 million. During the same quarter in the previous year, the company earned $0.97 earnings per share. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, equities analysts anticipate that Spectrum Brands will post 5.06 EPS for the current fiscal year.

Institutional Trading of Spectrum Brands

Large investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC bought a new stake in Spectrum Brands in the 4th quarter worth approximately $239,000. New York State Teachers Retirement System purchased a new position in Spectrum Brands in the fourth quarter worth about $129,000. Verity Asset Management Inc. boosted its holdings in shares of Spectrum Brands by 7.4% in the fourth quarter. Verity Asset Management Inc. now owns 7,434 shares of the company’s stock worth $439,000 after buying an additional 509 shares during the last quarter. Interchange Capital Partners LLC bought a new stake in Spectrum Brands during the fourth quarter valued at approximately $221,000. Finally, Vest Financial LLC increased its holdings in Spectrum Brands by 11.4% during the fourth quarter. Vest Financial LLC now owns 17,529 shares of the company’s stock valued at $1,036,000 after buying an additional 1,788 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.