Spectrum Brands (NYSE:SPB) Stock Price Target Cut by Canaccord Genuity Group

Spectrum Brands (NYSE:SPB) had its price target cut by equities researchers at Canaccord Genuity Group from $110.00 to $105.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group‘s price objective would suggest a potential upside of 19.32% from the stock’s previous close.

Several other brokerages have also recently commented on SPB. Deutsche Bank restated a “hold” rating and set a $96.00 target price on shares of Spectrum Brands in a report on Monday, August 10th. Weiss Ratings restated a “hold (c)” rating on shares of Spectrum Brands in a research note on Wednesday, November 4th. Oppenheimer lifted their price target on Spectrum Brands from $85.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Wall Street Zen lowered shares of Spectrum Brands from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. Finally, Royal Bank Of Canada lowered shares of Spectrum Brands from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $85.00 to $92.00 in a report on Monday, August 10th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $97.14.

Spectrum Brands Price Performance

Shares of SPB traded down $0.35 on Friday, hitting $88.00. The company’s stock had a trading volume of 371,485 shares, compared to its average volume of 389,543. The company has a market capitalization of $2.02 billion, a PE ratio of 41.90, a PEG ratio of 3.16 and a beta of 0.81. Spectrum Brands has a fifty-two week low of $53.21 and a fifty-two week high of $99.06. The company has a 50 day moving average price of $83.01 and a 200 day moving average price of $81.53. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.61.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Thursday, November 12th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.49. Spectrum Brands had a return on equity of 8.44% and a net margin of 1.74%. The firm had revenue of $713.20 million during the quarter, compared to analysts’ expectations of $717.98 million. During the same period last year, the firm posted $2.61 EPS. The business’s revenue was down 2.8% on a year-over-year basis. On average, research analysts anticipate that Spectrum Brands will post 5.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spectrum Brands

Institutional investors and hedge funds have recently made changes to their positions in the company. Marshall Wace LLP acquired a new position in shares of Spectrum Brands during the third quarter valued at $7,449,000. Empowered Funds LLC increased its position in Spectrum Brands by 31.1% in the third quarter. Empowered Funds LLC now owns 132,347 shares of the company’s stock worth $10,523,000 after purchasing an additional 31,394 shares during the period. State Board of Administration of Florida Retirement System increased its position in Spectrum Brands by 115.7% in the third quarter. State Board of Administration of Florida Retirement System now owns 19,162 shares of the company’s stock worth $1,524,000 after purchasing an additional 10,278 shares during the period. First Trust Advisors LP increased its position in Spectrum Brands by 4.7% in the third quarter. First Trust Advisors LP now owns 71,909 shares of the company’s stock worth $5,718,000 after purchasing an additional 3,219 shares during the period. Finally, Advisors Asset Management Inc. bought a new stake in Spectrum Brands during the 3rd quarter worth about $11,911,000.

Key Stories Impacting Spectrum Brands

Investors following SPB have been watching these stories:

• Neutral Sentiment: Management expects fiscal 2027 net sales to be flat to up low single digits and plans to offset roughly $80 million in inflation headwinds. That points to modest growth, with execution on cost savings important. Spectrum Brands sees fiscal 2027 net sales flat to up low single digits
• Neutral Sentiment: Canaccord Genuity lowered its price target from $110 to $105 but maintained a Buy rating, indicating continued potential upside in the analyst’s view, alongside a more cautious valuation outlook. Canaccord Genuity Group stock recommendations
• Negative Sentiment: Revenue was $713.2 million, below the roughly $718 million consensus, and declined 2.8% year over year; EPS was also below the year-ago $2.61. The sales weakness highlights ongoing demand pressure despite the earnings beat. Spectrum Brands beats Q4 earnings but revenue falls short

About Spectrum Brands

Spectrum Brands Holdings, Inc. is a global consumer products company that develops, manufactures and markets products for homes, pets and gardens. Its businesses serve consumers through a portfolio of established brands and retail, e-commerce and other distribution channels. The company’s Home and Personal Care products include small kitchen appliances, personal care devices and home appliances sold under brands such as Remington, Russell Hobbs, George Foreman and Black+Decker, under license. Its Global Pet Care business offers products for aquatic pets, companion animals and pet health, including brands such as Tetra, DreamBone and Nature’s Miracle.