Spectrum Brands (NYSE:SPB) Receives Outperform Rating from Royal Bank Of Canada

Spectrum Brands (NYSE:SPB)‘s stock had its “outperform” rating reissued by research analysts at Royal Bank Of Canada in a note issued to investors on Tuesday,Benzinga reports. They currently have a $75.00 price target on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 12.17% from the stock’s current price.

A number of other research analysts have also issued reports on the stock. Wall Street Zen upgraded shares of Spectrum Brands from a “sell” rating to a “hold” rating in a report on Tuesday, November 18th. Canaccord Genuity Group increased their price objective on Spectrum Brands from $75.00 to $84.00 and gave the company a “buy” rating in a report on Monday, November 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Spectrum Brands in a report on Monday, December 29th. Finally, Wells Fargo & Company increased their price target on Spectrum Brands from $55.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, November 14th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

Spectrum Brands Price Performance

Spectrum Brands stock traded up $1.23 during mid-day trading on Tuesday, reaching $66.86. The company had a trading volume of 94,617 shares, compared to its average volume of 322,112. The business has a fifty day simple moving average of $61.19 and a 200 day simple moving average of $57.07. The company has a market cap of $1.56 billion, a P/E ratio of 16.85 and a beta of 0.68. Spectrum Brands has a fifty-two week low of $49.99 and a fifty-two week high of $83.50. The company has a current ratio of 2.26, a quick ratio of 1.41 and a debt-to-equity ratio of 0.29.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, November 13th. The company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $1.84. Spectrum Brands had a return on equity of 7.29% and a net margin of 3.56%.The company had revenue of $733.50 million during the quarter, compared to analysts’ expectations of $738.57 million. During the same period in the prior year, the company earned $0.97 EPS. Spectrum Brands’s revenue was down 5.2% compared to the same quarter last year. On average, equities research analysts predict that Spectrum Brands will post 5.06 earnings per share for the current year.

Hedge Funds Weigh In On Spectrum Brands

A number of hedge funds have recently added to or reduced their stakes in SPB. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Spectrum Brands by 7,237.5% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock valued at $31,000 after purchasing an additional 579 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Spectrum Brands by 111.7% during the 4th quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock valued at $38,000 after acquiring an additional 335 shares during the period. Headlands Technologies LLC bought a new position in shares of Spectrum Brands in the second quarter worth $41,000. SJS Investment Consulting Inc. bought a new stake in shares of Spectrum Brands during the 3rd quarter valued at $47,000. Finally, State of Alaska Department of Revenue bought a new position in Spectrum Brands in the 3rd quarter worth about $49,000.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.