Spectrum Brands (NYSE:SPB) Reaches New 12-Month High – What’s Next?

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

Analysts Set New Price Targets

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

Spectrum Brands Stock Performance

The stock has a market cap of $2.09 billion, a P/E ratio of 17.33, a P/E/G ratio of 2.79 and a beta of 0.64. The firm has a 50 day moving average of $84.53 and a two-hundred day moving average of $78.57. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.42 and a current ratio of 2.29.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.04 by $0.21. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.The company had revenue of $708.90 million for the quarter, compared to the consensus estimate of $676.45 million. During the same period in the previous year, the business posted $0.68 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, research analysts predict that Spectrum Brands Holdings Inc. will post 5.32 EPS for the current fiscal year.

Insider Transactions at Spectrum Brands

In related news, CEO David M. Maura bought 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $72.85 per share, for a total transaction of $182,125.00. Following the purchase, the chief executive officer directly owned 790,708 shares in the company, valued at $57,603,077.80. This trade represents a 0.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Spectrum Brands

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its position in shares of Spectrum Brands by 374,119.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company’s stock valued at $129,779,000 after purchasing an additional 2,196,079 shares during the period. Callodine Capital Management LP lifted its position in Spectrum Brands by 20.4% in the fourth quarter. Callodine Capital Management LP now owns 2,065,216 shares of the company’s stock worth $122,013,000 after purchasing an additional 350,261 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Spectrum Brands during the second quarter worth $15,409,000. Qube Research & Technologies Ltd boosted its stake in Spectrum Brands by 71.2% during the second quarter. Qube Research & Technologies Ltd now owns 539,728 shares of the company’s stock worth $28,606,000 after buying an additional 224,481 shares in the last quarter. Finally, Bridgeway Capital Management LLC acquired a new position in shares of Spectrum Brands in the 2nd quarter valued at $7,317,000.

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.