Spectrum Brands Holdings, Inc. (SPB) Given New $116.00 Price Target at Bank of America Corporation
Spectrum Brands Holdings, Inc. (NYSE:SPB) had its price target raised by Bank of America Corporation from $113.00 to $116.00 in a research report report published on Friday. Bank of America Corporation currently has a neutral rating on the stock.
A number of other equities analysts have also recently commented on SPB. Royal Bank Of Canada reaffirmed a buy rating and issued a $155.00 target price on shares of Spectrum Brands Holdings in a report on Wednesday, November 15th. Jefferies Group LLC reaffirmed a buy rating and issued a $142.00 target price on shares of Spectrum Brands Holdings in a report on Thursday, November 16th. Canaccord Genuity reaffirmed a buy rating on shares of Spectrum Brands Holdings in a report on Thursday, September 28th. KeyCorp set a $130.00 target price on Spectrum Brands Holdings and gave the stock a buy rating in a report on Monday, October 16th. Finally, Zacks Investment Research raised Spectrum Brands Holdings from a strong sell rating to a hold rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $137.25.
Spectrum Brands Holdings (SPB) opened at $112.50 on Friday. Spectrum Brands Holdings has a twelve month low of $98.11 and a twelve month high of $146.09. The company has a market capitalization of $6,520.00, a price-to-earnings ratio of 20.58, a P/E/G ratio of 1.78 and a beta of 0.75. The company has a quick ratio of 0.75, a current ratio of 1.44 and a debt-to-equity ratio of 2.06.
Spectrum Brands Holdings (NYSE:SPB) last announced its earnings results on Thursday, November 16th. The company reported $1.35 EPS for the quarter, missing the Zacks’ consensus estimate of $1.47 by ($0.12). Spectrum Brands Holdings had a return on equity of 17.48% and a net margin of 5.91%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the prior year, the business posted $1.31 earnings per share. Spectrum Brands Holdings’s revenue for the quarter was up 5.8% compared to the same quarter last year. analysts anticipate that Spectrum Brands Holdings will post 6.29 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Tuesday, November 28th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Monday, November 27th. This represents a $1.68 dividend on an annualized basis and a yield of 1.49%. Spectrum Brands Holdings’s payout ratio is presently 33.47%.
A number of hedge funds have recently modified their holdings of SPB. BlackRock Inc. increased its stake in Spectrum Brands Holdings by 5,054.7% in the 1st quarter. BlackRock Inc. now owns 1,208,769 shares of the company’s stock worth $168,030,000 after buying an additional 1,185,319 shares in the last quarter. HighTower Advisors LLC increased its stake in Spectrum Brands Holdings by 3.3% in the 1st quarter. HighTower Advisors LLC now owns 2,083 shares of the company’s stock worth $288,000 after buying an additional 66 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Spectrum Brands Holdings during the second quarter valued at about $100,000. Bank of Montreal Can grew its position in shares of Spectrum Brands Holdings by 152.2% during the second quarter. Bank of Montreal Can now owns 29,438 shares of the company’s stock valued at $3,681,000 after purchasing an additional 17,764 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. grew its position in shares of Spectrum Brands Holdings by 518.9% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 4,283 shares of the company’s stock valued at $536,000 after purchasing an additional 3,591 shares in the last quarter. Institutional investors and hedge funds own 47.13% of the company’s stock.
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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