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

Shares of Spectrum Brands Holdings Inc. (NYSE:SPB) have earned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $83.00.

A number of research analysts have recently weighed in on SPB shares. Wall Street Zen raised shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Royal Bank Of Canada set a $85.00 target price on Spectrum Brands in a report on Friday, February 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Spectrum Brands in a report on Monday, December 29th. Oppenheimer upped their price objective on Spectrum Brands from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Finally, Wells Fargo & Company lifted their price objective on Spectrum Brands from $62.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, February 6th.

Spectrum Brands Trading Up 1.6%

NYSE:SPB opened at $77.33 on Wednesday. Spectrum Brands has a 52-week low of $49.99 and a 52-week high of $80.28. The company has a quick ratio of 1.38, a current ratio of 2.21 and a debt-to-equity ratio of 0.29. The stock has a fifty day simple moving average of $64.70 and a 200-day simple moving average of $58.42. The company has a market capitalization of $1.79 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 2.56 and a beta of 0.68.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, February 5th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.63. The firm had revenue of $677.00 million for the quarter, compared to analysts’ expectations of $667.59 million. Spectrum Brands had a net margin of 3.76% and a return on equity of 7.65%. The firm’s revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.02 EPS. On average, equities research analysts expect that Spectrum Brands will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, February 17th. Spectrum Brands’s dividend payout ratio (DPR) is currently 43.42%.

Institutional Trading of Spectrum Brands

Hedge funds have recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Spectrum Brands by 88.3% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 22,618 shares of the company’s stock worth $1,188,000 after buying an additional 10,605 shares during the last quarter. Callodine Capital Management LP grew its position in Spectrum Brands by 85.5% during the second quarter. Callodine Capital Management LP now owns 1,354,057 shares of the company’s stock valued at $71,765,000 after acquiring an additional 624,057 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Spectrum Brands during the third quarter valued at about $994,000. Rovida Advisors Inc. acquired a new stake in Spectrum Brands during the second quarter worth about $256,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Spectrum Brands in the 2nd quarter worth about $807,000.

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.