Spectrum Brands Holdings, Inc. (SPB) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research cut shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) from a hold rating to a sell rating in a report issued on Saturday.
According to Zacks, “Spectrum Brands, Inc. and its subsidiaries operate as a global branded consumer products company. The Company has three reportable segments: Global Batteries & Personal Care; Global Pet Supplies; and Home and Garden Business. Its operations include the manufacturing and marketing of alkaline, zinc carbon and hearing aid batteries, as well as aquariums and aquatic health supplies and the designing and marketing of rechargeable batteries, battery-powered lighting products, electric shavers and accessories, grooming products and hair care appliances. The Company also provides specialty pet supplies and also herbicides, insecticides and repellents. Its portfolio of brands are Rayovac(R), Remington(R), VARTA(R), Tetra(R), Marineland(R), Nature’s Miracle(R), Dingo(R), 8-in-1(R), Spectracide(R), Cutter(R), Repel(R), and HotShot(R) with manufacturing and product development facilities located in the U.S., Europe, Asia and Latin America. Spectrum Brands, Inc. is headquartered in Atlanta, Georgia. “
A number of other research analysts also recently issued reports on SPB. Jefferies Group LLC restated a buy rating and issued a $167.00 price target (up from $160.00) on shares of Spectrum Brands Holdings in a research report on Tuesday, April 18th. Royal Bank of Canada reiterated a buy rating and issued a $160.00 price objective on shares of Spectrum Brands Holdings in a research report on Friday, April 21st. BMO Capital Markets set a $155.00 price objective on shares of Spectrum Brands Holdings and gave the company a buy rating in a research report on Tuesday, May 2nd. Deutsche Bank AG cut their price objective on shares of Spectrum Brands Holdings from $152.00 to $149.00 and set a buy rating on the stock in a research report on Wednesday, May 3rd. Finally, BidaskClub downgraded shares of Spectrum Brands Holdings from a hold rating to a sell rating in a research report on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. Spectrum Brands Holdings has a consensus rating of Buy and an average target price of $143.88.
Shares of Spectrum Brands Holdings (SPB) opened at 114.50 on Friday. Spectrum Brands Holdings has a 12 month low of $108.30 and a 12 month high of $146.09. The company has a 50-day moving average of $124.71 and a 200-day moving average of $132.49. The stock has a market capitalization of $6.74 billion, a PE ratio of 28.00 and a beta of 0.69.
Spectrum Brands Holdings (NYSE:SPB) last posted its quarterly earnings results on Thursday, July 27th. The company reported $1.71 earnings per share (EPS) for the quarter, missing the Zacks’ 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 during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the business posted $1.73 earnings per share. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, equities research analysts expect that Spectrum Brands Holdings will post $5.76 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Tuesday, August 15th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, August 11th. This represents a $1.68 annualized dividend and a yield of 1.47%. Spectrum Brands Holdings’s payout ratio is 34.29%.
Institutional investors have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. raised its position in shares of 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 valued at $9,632,000 after buying an additional 57,904 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Spectrum Brands Holdings by 12.2% in the first quarter. Schroder Investment Management Group now owns 626,618 shares of the company’s stock valued at $87,789,000 after buying an additional 67,911 shares during the period. Gulf International Bank UK Ltd increased its stake in shares of 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 valued at $1,355,000 after buying an additional 100 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Spectrum Brands Holdings by 52.8% in the first quarter. Nisa Investment Advisors LLC now owns 20,033 shares of the company’s stock valued at $2,785,000 after buying an additional 6,920 shares during the period. Finally, BB&T Securities LLC increased its stake in shares of Spectrum Brands Holdings by 5.4% in the first quarter. BB&T Securities LLC now owns 10,928 shares of the company’s stock valued at $1,519,000 after buying an additional 563 shares during the period. 47.38% of the stock is currently owned by hedge funds and other institutional investors.
Spectrum Brands Holdings Company Profile
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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