Spectrum Brands Holdings, Inc. (SPB) Earns “Buy” Rating from Wells Fargo & Company
Several other brokerages have also recently issued reports on SPB. Royal Bank Of Canada reissued a buy rating and set a $160.00 target price on shares of Spectrum Brands Holdings in a report on Friday, April 21st. Jefferies Group LLC reissued a buy rating and set a $167.00 target price on shares of Spectrum Brands Holdings in a report on Tuesday, May 2nd. Zacks Investment Research raised shares of Spectrum Brands Holdings from a sell rating to a hold rating in a report on Thursday, April 13th. Deutsche Bank AG reduced their target price on shares of Spectrum Brands Holdings from $152.00 to $149.00 and set a buy rating for the company in a report on Wednesday, May 3rd. Finally, BMO Capital Markets set a $155.00 target price on shares of Spectrum Brands Holdings and gave the stock a buy rating in a report on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. Spectrum Brands Holdings has an average rating of Buy and an average target price of $143.88.
Spectrum Brands Holdings (NYSE SPB) traded down 1.45% during midday trading on Thursday, hitting $115.24. The stock had a trading volume of 295,894 shares. Spectrum Brands Holdings has a 52-week low of $108.30 and a 52-week high of $146.09. The firm has a market capitalization of $6.76 billion, a P/E ratio of 23.60 and a beta of 0.69. The firm has a 50-day moving average of $125.70 and a 200 day moving average of $132.40.
Spectrum Brands Holdings (NYSE:SPB) last issued its earnings results on Thursday, July 27th. The company reported $1.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.92 by $0.21. Spectrum Brands Holdings had a return on equity of 17.59% and a net margin of 5.87%. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the business earned $1.73 EPS. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities analysts forecast that Spectrum Brands Holdings will post $5.76 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Tuesday, August 15th will be issued a $0.42 dividend. The ex-dividend date is Friday, August 11th. This represents a $1.68 dividend on an annualized basis and a yield of 1.44%. Spectrum Brands Holdings’s payout ratio is 34.29%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPB. UBS Asset Management Americas Inc. boosted its position in Spectrum Brands Holdings by 277.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 78,738 shares of the company’s stock worth $9,632,000 after buying an additional 57,904 shares during the last quarter. Schroder Investment Management Group boosted its position in Spectrum Brands Holdings by 12.2% in the first quarter. Schroder Investment Management Group now owns 626,618 shares of the company’s stock worth $87,789,000 after buying an additional 67,911 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in Spectrum Brands Holdings by 1.0% in the first quarter. Gulf International Bank UK Ltd now owns 9,750 shares of the company’s stock worth $1,355,000 after buying an additional 100 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Spectrum Brands Holdings by 52.8% in the first quarter. Nisa Investment Advisors LLC now owns 20,033 shares of the company’s stock worth $2,785,000 after buying an additional 6,920 shares during the last quarter. Finally, BB&T Securities LLC boosted its position in Spectrum Brands Holdings by 5.4% in the first quarter. BB&T Securities LLC now owns 10,928 shares of the company’s stock worth $1,519,000 after buying an additional 563 shares during the last quarter. 47.38% of the stock is owned by institutional investors.
About Spectrum Brands Holdings
Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.
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