Spectrum Brands Holdings Inc. (SPB) Rating Lowered to Hold at Zacks Investment Research
Spectrum Brands Holdings Inc. (NYSE:SPB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Spectrum Brands, Inc. and its subsidiaries operate as a global branded consumer products company. The Company has three reportable segments: Global Batteries & Personal Care; Global Pet Supplies; and Home and Garden Business. Its operations include the manufacturing and marketing of alkaline, zinc carbon and hearing aid batteries, as well as aquariums and aquatic health supplies and the designing and marketing of rechargeable batteries, battery-powered lighting products, electric shavers and accessories, grooming products and hair care appliances. The Company also provides specialty pet supplies and also herbicides, insecticides and repellents. Its portfolio of brands are Rayovac(R), Remington(R), VARTA(R), Tetra(R), Marineland(R), Nature’s Miracle(R), Dingo(R), 8-in-1(R), Spectracide(R), Cutter(R), Repel(R), and HotShot(R) with manufacturing and product development facilities located in the U.S., Europe, Asia and Latin America. Spectrum Brands, Inc. is headquartered in Atlanta, Georgia. “
A number of other research firms have also commented on SPB. Monness Crespi & Hardt lifted their price objective on Spectrum Brands Holdings from $138.00 to $151.00 and gave the stock a “buy” rating in a research note on Thursday, September 29th. Piper Jaffray Cos. assumed coverage on Spectrum Brands Holdings in a research note on Thursday, September 1st. They issued an “overweight” rating and a $147.00 price objective on the stock. Jefferies Group restated a “buy” rating on shares of Spectrum Brands Holdings in a research note on Thursday, August 25th. Finally, Deutsche Bank AG restated a “buy” rating and set a $140.00 price target (up from $125.00) on shares of Spectrum Brands Holdings in a research note on Sunday, July 24th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $142.33.
Spectrum Brands Holdings (NYSE:SPB) opened at 133.49 on Tuesday. The firm’s 50-day moving average price is $132.58 and its 200-day moving average price is $121.49. Spectrum Brands Holdings has a 12-month low of $87.65 and a 12-month high of $138.95. The company has a market cap of $7.93 billion, a P/E ratio of 27.12 and a beta of 0.65.
Spectrum Brands Holdings (NYSE:SPB) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.04. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.36 billion. Spectrum Brands Holdings had a return on equity of 17.79% and a net margin of 5.44%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.42 earnings per share. Analysts expect that Spectrum Brands Holdings will post $0.53 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Tuesday, August 16th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, August 12th. This represents a $1.52 annualized dividend and a dividend yield of 1.14%. Spectrum Brands Holdings’s dividend payout ratio is currently 32.69%.
In other news, SVP Stacey L. Neu sold 800 shares of the company’s 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 sale, the senior vice president now directly owns 3,850 shares in the company, valued at approximately $492,954. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David M. Maura acquired 2,000 shares of the stock in a transaction dated Thursday, September 15th. The stock was bought at an average price of $127.47 per share, for a total transaction of $254,940.00. The disclosure for this purchase can be found here. 0.95% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in SPB. Pitcairn Co. increased its position in shares of Spectrum Brands Holdings by 1.3% in the second quarter. Pitcairn Co. now owns 3,075 shares of the company’s stock valued at $367,000 after buying an additional 40 shares during the last quarter. Legal & General Group Plc increased its position in shares of Spectrum Brands Holdings by 3.9% in the second quarter. Legal & General Group Plc now owns 2,033 shares of the company’s stock valued at $243,000 after buying an additional 77 shares during the last quarter. Paradigm Asset Management Co. LLC increased its position in shares of Spectrum Brands Holdings by 5.0% in the second quarter. Paradigm Asset Management Co. LLC now owns 2,100 shares of the company’s stock valued at $251,000 after buying an additional 100 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Spectrum Brands Holdings by 2.3% in the second quarter. BNP Paribas Arbitrage SA now owns 7,390 shares of the company’s stock valued at $882,000 after buying an additional 167 shares during the last quarter. Finally, Genesee Valley Trust Co. increased its position in shares of Spectrum Brands Holdings by 9.3% in the second quarter. Genesee Valley Trust Co. now owns 2,064 shares of the company’s stock valued at $246,000 after buying an additional 176 shares during the last quarter. Institutional investors own 45.41% of the company’s stock.
About Spectrum Brands Holdings
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Spectrum Brands Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spectrum Brands Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.