Spectrum Brands Holdings Inc. (SPB) Sees Large Volume Increase
Shares of Spectrum Brands Holdings Inc. (NYSE:SPB) saw an uptick in trading volume on Tuesday . 257,180 shares traded hands during trading, an increase of 17% from the previous session’s volume of 219,063 shares.The stock last traded at $132.53 and had previously closed at $132.07.
A number of brokerages have issued reports on SPB. Zacks Investment Research cut Spectrum Brands Holdings from a “buy” rating to a “hold” rating in a report on Thursday, May 12th. Jefferies Group raised their target price on Spectrum Brands Holdings from $147.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Monness Crespi & Hardt raised their target price on Spectrum Brands Holdings from $125.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Finally, Deutsche Bank AG restated a “buy” rating and set a $140.00 target price (up previously from $125.00) on shares of Spectrum Brands Holdings in a report on Sunday, July 24th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $134.40.
The firm has a market cap of $7.89 billion and a P/E ratio of 26.99. The company has a 50 day moving average price of $126.24 and a 200-day moving average price of $114.72.
Spectrum Brands Holdings (NYSE:SPB) last announced its earnings results on Thursday, July 28th. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.69 by $0.04. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the company earned $1.42 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts forecast that Spectrum Brands Holdings Inc. will post $5.17 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 13th. Shareholders of record on Tuesday, August 16th will be issued a $0.38 dividend. The ex-dividend date is Friday, August 12th. This represents a $1.52 annualized dividend and a yield of 1.14%.
In other news, Chairman David M. Maura purchased 4,350 shares of the business’s stock in a transaction on Monday, June 13th. The shares were acquired at an average price of $114.52 per share, for a total transaction of $498,162.00. Following the completion of the acquisition, the chairman now owns 277,633 shares in the company, valued at $31,794,531.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Stacey L. Neu sold 800 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $128.04, for a total value of $102,432.00. Following the completion of the transaction, the senior vice president now owns 3,850 shares in the company, valued at approximately $492,954. The disclosure for this sale can be found here.
Spectrum Brands Holdings, Inc (SBH) is a diversified consumer products company. The Company operates through five segments: Global Batteries & Appliances, Global Pet Supplies, Home and Garden, Hardware & Home Improvement, and Global Auto Care. The Company’s Global Batteries & Appliances segment includes consumer batteries, small appliances and personal care products.
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