Spectrum Brands (NYSE:SPB) Reaches New 52-Week High – Should You Buy?

Spectrum Brands Holdings Inc. (NYSE:SPB)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $91.66 and last traded at $91.5140, with a volume of 80518 shares traded. The stock had previously closed at $88.92.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SPB. Canaccord Genuity Group dropped their price objective on Spectrum Brands from $100.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $81.00 target price on shares of Spectrum Brands in a research note on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Spectrum Brands in a report on Tuesday, July 21st. Wall Street Zen cut shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Finally, Wells Fargo & Company lifted their price target on shares of Spectrum Brands from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.00.

Spectrum Brands Trading Up 2.1%

The business has a 50 day simple moving average of $84.53 and a 200 day simple moving average of $78.57. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.29 and a quick ratio of 1.42. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 2.79 and a beta of 0.64.

Spectrum Brands (NYSE:SPB) last announced its earnings results on Thursday, May 7th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.21. The company had revenue of $708.90 million during the quarter, compared to analyst estimates of $676.45 million. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $0.68 earnings per share. As a group, equities analysts forecast that Spectrum Brands Holdings Inc. will post 5.32 EPS for the current year.

Insiders Place Their Bets

In related news, CEO David M. Maura acquired 2,500 shares of the stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $72.85 per share, for a total transaction of $182,125.00. Following the transaction, the chief executive officer owned 790,708 shares of the company’s stock, valued at $57,603,077.80. The trade was a 0.32% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.50% of the company’s stock.

Institutional Trading of Spectrum Brands

Hedge funds have recently modified their holdings of the stock. Manning & Napier Advisors LLC boosted its holdings in Spectrum Brands by 9.1% in the fourth quarter. Manning & Napier Advisors LLC now owns 300,000 shares of the company’s stock valued at $17,724,000 after acquiring an additional 25,000 shares during the last quarter. Gamco Investors INC. ET AL increased its position in Spectrum Brands by 8.8% in the fourth quarter. Gamco Investors INC. ET AL now owns 354,082 shares of the company’s stock worth $20,919,000 after purchasing an additional 28,569 shares during the period. LSV Asset Management raised its holdings in Spectrum Brands by 2.9% during the 4th quarter. LSV Asset Management now owns 602,980 shares of the company’s stock worth $35,624,000 after purchasing an additional 17,100 shares during the last quarter. Pacer Advisors Inc. bought a new stake in Spectrum Brands during the 4th quarter worth about $6,242,000. Finally, Assenagon Asset Management S.A. acquired a new position in Spectrum Brands during the 1st quarter valued at about $1,606,000.

About Spectrum Brands

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.