Spectrum Brands Holdings Inc. (NYSE:SPB) Stock Has Average Price Target of $97.86 According to Brokerages

Shares of Spectrum Brands Holdings Inc. (NYSE:SPB) have earned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $97.86.

Several equities analysts have weighed in on the company. Oppenheimer increased their price objective on Spectrum Brands from $85.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $96.00 target price on shares of Spectrum Brands in a research note on Monday, August 10th. Weiss Ratings cut Spectrum Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Royal Bank Of Canada downgraded Spectrum Brands from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $85.00 to $92.00 in a research note on Monday, August 10th. Finally, Monness Crespi & Hardt increased their price target on Spectrum Brands from $86.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, August 10th.

Spectrum Brands Trading Down 1.2%

Shares of Spectrum Brands stock opened at $80.06 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.61 and a current ratio of 2.41. Spectrum Brands has a 52 week low of $51.41 and a 52 week high of $99.06. The stock has a 50 day moving average price of $83.66 and a two-hundred day moving average price of $83.49. The stock has a market capitalization of $1.84 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 2.85 and a beta of 0.78.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Friday, August 7th. The company reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $1.33. Spectrum Brands had a return on equity of 10.06% and a net margin of 2.76%. The business had revenue of $753.30 million during the quarter, compared to the consensus estimate of $732.19 million. During the same quarter in the previous year, the business earned $1.24 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities analysts anticipate that Spectrum Brands will post 6.39 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, August 25th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, August 25th. Spectrum Brands’s dividend payout ratio is presently 57.32%.

Institutional Trading of Spectrum Brands

Several institutional investors and hedge funds have recently modified their holdings of the business. Pzena Investment Management LLC bought a new position in Spectrum Brands in the second quarter valued at $207,584,000. BlackRock Inc. bought a new stake in Spectrum Brands during the second quarter worth about $166,197,000. Alberta Investment Management Corp bought a new stake in Spectrum Brands during the second quarter worth about $46,353,000. Manning & Napier Advisors LLC boosted its holdings in shares of Spectrum Brands by 6.7% in the 1st quarter. Manning & Napier Advisors LLC now owns 320,000 shares of the company’s stock worth $23,584,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of Spectrum Brands in the 2nd quarter worth about $24,742,000.

About Spectrum Brands

Spectrum Brands Holdings, Inc (NYSE:SPB) is a consumer products company that develops, markets and distributes branded products for households and pets. The company sells its products through retailers, e-commerce channels and other distribution partners in the United States and international markets.

Spectrum Brands’ Home and Personal Care portfolio includes small household appliances, personal-care products and related accessories sold under brands such as Remington, Russell Hobbs, George Foreman and Farberware.