Spectrum Brands Holdings Inc. (NYSE:SPB) Receives Average Rating of “Hold” from Analysts

Shares of Spectrum Brands Holdings Inc. (NYSE:SPB) have been given an average rating of “Hold” by the seven analysts that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $98.83.

A number of brokerages recently commented on SPB. Wells Fargo & Company increased their price objective on shares of Spectrum Brands from $85.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. Royal Bank Of Canada cut shares of Spectrum Brands from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $85.00 to $92.00 in a research report on Monday, August 10th. Monness Crespi & Hardt upped their price target on shares of Spectrum Brands from $86.00 to $105.00 and gave the company a “buy” rating in a report on Monday, August 10th. Wall Street Zen upgraded shares of Spectrum Brands from a “hold” rating to a “buy” rating in a research report on Saturday, September 5th. Finally, Weiss Ratings cut shares of Spectrum Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th.

Hedge Funds Weigh In On Spectrum Brands

Several hedge funds have recently bought and sold shares of the stock. Allworth Financial LP raised its position in shares of Spectrum Brands by 65.2% in the second quarter. Allworth Financial LP now owns 337 shares of the company’s stock valued at $29,000 after buying an additional 133 shares during the last quarter. ProShare Advisors LLC boosted its position in Spectrum Brands by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 4,721 shares of the company’s stock worth $279,000 after acquiring an additional 140 shares during the last quarter. Syon Capital LLC boosted its position in Spectrum Brands by 2.7% during the second quarter. Syon Capital LLC now owns 8,113 shares of the company’s stock worth $696,000 after acquiring an additional 210 shares during the last quarter. Squarepoint Ops LLC grew its stake in Spectrum Brands by 2.5% in the 2nd quarter. Squarepoint Ops LLC now owns 12,418 shares of the company’s stock worth $1,065,000 after acquiring an additional 302 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Spectrum Brands by 96.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock valued at $37,000 after acquiring an additional 310 shares during the last quarter.

Spectrum Brands Stock Down 2.5%

Spectrum Brands stock opened at $80.77 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.61 and a current ratio of 2.41. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 2.61 and a beta of 0.65. Spectrum Brands has a fifty-two week low of $49.99 and a fifty-two week high of $99.06. The stock’s fifty day moving average is $87.60 and its two-hundred day moving average is $82.99.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Friday, August 7th. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $1.33. The business had revenue of $753.30 million during the quarter, compared to analysts’ expectations of $732.19 million. Spectrum Brands had a return on equity of 10.06% and a net margin of 2.76%.The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $1.24 earnings per share. Analysts predict that Spectrum Brands will post 6.38 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

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

About Spectrum Brands

Spectrum Brands Holdings, Inc (NYSE: SPB) is a global branded consumer products company headquartered in Middleton, Wisconsin. The company develops, markets and distributes products for household, personal care and pet-care needs, selling through mass retailers, specialty stores, e-commerce channels and other outlets.

Its portfolio has included well-known brands such as Remington personal-care products, Black+Decker-branded small appliances under license, Russell Hobbs and Farberware kitchen products, and Pfister plumbing products.