Spectrum Brands Holdings Inc. (NYSE:SPB) Given Consensus Rating of “Moderate Buy” by Analysts

by · The Markets Daily

Shares of Spectrum Brands Holdings Inc. (NYSE:SPB – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $86.00.

SPB has been the subject of several recent analyst reports. Canaccord Genuity Group lowered their price target on Spectrum Brands from $100.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday. Weiss Ratings raised Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, April 24th. Wall Street Zen lowered Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $81.00 price target on shares of Spectrum Brands in a research report on Friday, May 8th.

Check Out Our Latest Analysis on SPB

Insider Activity

In related news, CEO David M. Maura purchased 2,500 shares of the stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average price of $72.85 per share, with a total value of $182,125.00. Following the transaction, the chief executive officer directly owned 790,708 shares in the company, valued at $57,603,077.80. This trade represents a 0.32% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SPB. Northwestern Mutual Wealth Management Co. lifted its position in shares of Spectrum Brands by 374,119.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company’s stock valued at $129,779,000 after buying an additional 2,196,079 shares in the last quarter. Pzena Investment Management LLC boosted its stake in Spectrum Brands by 66.8% in the 3rd quarter. Pzena Investment Management LLC now owns 2,459,485 shares of the company’s stock worth $129,197,000 after purchasing an additional 985,034 shares during the period. Callodine Capital Management LP grew its holdings in Spectrum Brands by 26.7% during the 3rd quarter. Callodine Capital Management LP now owns 1,714,955 shares of the company’s stock valued at $90,087,000 after buying an additional 360,898 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in Spectrum Brands during the 2nd quarter valued at approximately $15,409,000. Finally, American Century Companies Inc. grew its holdings in Spectrum Brands by 14.5% during the 3rd quarter. American Century Companies Inc. now owns 2,052,850 shares of the company’s stock valued at $107,836,000 after buying an additional 260,085 shares in the last quarter.

Spectrum Brands Stock Performance

Shares of Spectrum Brands stock opened at $83.75 on Tuesday. The company has a current ratio of 2.29, a quick ratio of 1.42 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $1.94 billion, a P/E ratio of 15.98, a P/E/G ratio of 2.64 and a beta of 0.65. The business has a fifty day simple moving average of $80.75 and a two-hundred day simple moving average of $72.75. Spectrum Brands has a 12 month low of $49.99 and a 12 month high of $86.96.

Spectrum Brands (NYSE:SPB – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.21. The firm had revenue of $708.90 million during the quarter, compared to analyst estimates of $676.45 million. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.Spectrum Brands’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS. On average, equities analysts forecast that Spectrum Brands will post 5.32 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Stockholders of record on Tuesday, May 26th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, May 26th. Spectrum Brands’s payout ratio is currently 35.88%.

About Spectrum Brands

(Get Free Report)

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.

Featured Stories