Spectrum Brands Holdings, Inc. (SPB) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) from a strong sell rating to a hold rating in a research note released on Tuesday.
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. “
SPB has been the topic of several other reports. Royal Bank Of Canada set a $155.00 price target on shares of Spectrum Brands Holdings and gave the stock a buy rating in a research report on Friday, July 28th. Canaccord Genuity reaffirmed a buy rating on shares of Spectrum Brands Holdings in a research report on Thursday, September 28th. BidaskClub lowered shares of Spectrum Brands Holdings from a hold rating to a sell rating in a research report on Thursday, June 22nd. Oppenheimer Holdings, Inc. reaffirmed a buy rating and set a $167.00 price target on shares of Spectrum Brands Holdings in a research report on Wednesday, August 30th. Finally, Jefferies Group LLC reissued a buy rating and issued a $150.00 price objective (down from $165.00) on shares of Spectrum Brands Holdings in a research report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. Spectrum Brands Holdings presently has a consensus rating of Buy and a consensus price target of $142.29.
Spectrum Brands Holdings (NYSE SPB) opened at 110.88 on Tuesday. The company has a market cap of $6.44 billion, a P/E ratio of 22.70 and a beta of 0.65. Spectrum Brands Holdings has a 12-month low of $101.93 and a 12-month high of $146.09. The stock’s 50 day moving average is $105.29 and its 200-day moving average is $122.06.
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 Thomson Reuters’ consensus estimate of $1.92 by ($0.21). Spectrum Brands Holdings had a return on equity of 17.46% and a net margin of 5.87%. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the company posted $1.73 earnings per share. The business’s revenue was down 4.2% compared to the same quarter last year. Analysts predict that Spectrum Brands Holdings will post $5.58 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of Nova Scotia bought a new position in shares of Spectrum Brands Holdings in the second quarter valued at about $5,852,000. Cubist Systematic Strategies LLC raised its position in shares of Spectrum Brands Holdings by 20.3% in the second quarter. Cubist Systematic Strategies LLC now owns 2,766 shares of the company’s stock valued at $346,000 after purchasing an additional 466 shares during the period. State Street Corp raised its position in shares of Spectrum Brands Holdings by 2.6% in the second quarter. State Street Corp now owns 569,855 shares of the company’s stock valued at $71,288,000 after purchasing an additional 14,196 shares during the period. FTB Advisors Inc. raised its position in shares of Spectrum Brands Holdings by 16,710.6% in the second quarter. FTB Advisors Inc. now owns 33,453 shares of the company’s stock valued at $4,080,000 after purchasing an additional 33,254 shares during the period. Finally, Janus Henderson Group PLC bought a new position in shares of Spectrum Brands Holdings in the second quarter valued at about $12,046,000. 46.97% of the stock is currently owned by 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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