Stock Traders Purchase High Volume of Spectrum Brands Put Options (SPB)
Spectrum Brands Holdings, Inc. (NYSE:SPB) was the target of unusually large options trading activity on Thursday. Traders acquired 3,021 put options on the company. This is an increase of approximately 4,343% compared to the typical daily volume of 68 put options.
A number of analysts recently weighed in on SPB shares. Royal Bank of Canada reaffirmed a “buy” rating and set a $155.00 target price on shares of Spectrum Brands in a report on Wednesday, November 15th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $125.00 target price (down previously from $147.00) on shares of Spectrum Brands in a report on Tuesday, October 31st. Gabelli raised shares of Spectrum Brands from a “hold” rating to a “buy” rating in a report on Friday, November 17th. Canaccord Genuity reaffirmed a “buy” rating on shares of Spectrum Brands in a report on Wednesday, November 15th. Finally, Oppenheimer reaffirmed a “buy” rating and set a $167.00 target price on shares of Spectrum Brands in a report on Monday, November 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $141.33.
Several large investors have recently modified their holdings of SPB. Pacad Investment Ltd. bought a new position in shares of Spectrum Brands in the 2nd quarter worth $113,000. Toronto Dominion Bank increased its holdings in shares of Spectrum Brands by 244.3% in the 3rd quarter. Toronto Dominion Bank now owns 1,119 shares of the company’s stock worth $119,000 after buying an additional 794 shares during the last quarter. FNY Partners Fund LP purchased a new stake in shares of Spectrum Brands in the 2nd quarter valued at $187,000. SG Americas Securities LLC boosted its stake in shares of Spectrum Brands by 50.6% in the 2nd quarter. SG Americas Securities LLC now owns 1,586 shares of the company’s stock valued at $198,000 after purchasing an additional 533 shares in the last quarter. Finally, Stoneridge Investment Partners LLC purchased a new stake in shares of Spectrum Brands in the 3rd quarter valued at $214,000. 48.23% of the stock is currently owned by hedge funds and other institutional investors.
Spectrum Brands (NYSE:SPB) opened at $119.89 on Friday. The company has a market cap of $6,907.06, a price-to-earnings ratio of 23.79, a PEG ratio of 1.79 and a beta of 0.76. Spectrum Brands has a twelve month low of $98.11 and a twelve month high of $146.09. 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 (NYSE:SPB) last issued its quarterly 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). The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. Spectrum Brands had a return on equity of 17.48% and a net margin of 5.91%. Spectrum Brands’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.31 EPS. equities research analysts expect that Spectrum Brands will post 6.16 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 19th. Stockholders of record on Tuesday, November 28th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Monday, November 27th. Spectrum Brands’s payout ratio is 33.33%.
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Spectrum Brands 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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