Spectrum Brands Holdings Inc. (SPB) Raised to Buy at Zacks Investment Research
Spectrum Brands Holdings Inc. (NYSE:SPB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday. The firm presently has a $151.00 price target on the stock. Zacks Investment Research’s target price indicates a potential upside of 11.92% from the company’s previous close.
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 brokerages have also commented on SPB. Monness Crespi & Hardt increased their price target on shares of Spectrum Brands Holdings from $138.00 to $151.00 and gave the stock a “buy” rating in a report on Thursday, September 29th. Piper Jaffray Cos. began coverage on shares of Spectrum Brands Holdings in a research note on Thursday, September 1st. They issued an “overweight” rating and a $147.00 price objective for the company. Jefferies Group upped their price objective on shares of Spectrum Brands Holdings from $157.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $140.00 price objective (up previously from $125.00) on shares of Spectrum Brands Holdings in a research note on Sunday, July 24th. Eight analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus target price of $142.50.
Shares of Spectrum Brands Holdings (NYSE:SPB) opened at 134.92 on Friday. Spectrum Brands Holdings has a 1-year low of $87.65 and a 1-year high of $138.95. The company has a market capitalization of $8.01 billion, a P/E ratio of 27.41 and a beta of 0.65. The firm has a 50-day moving average of $132.75 and a 200 day moving average of $121.79.
Spectrum Brands Holdings (NYSE:SPB) last issued its quarterly earnings results on Thursday, July 28th. The company reported $1.73 EPS for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.04. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.36 billion. Spectrum Brands Holdings had a net margin of 5.44% and a return on equity of 17.79%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.42 EPS. On average, equities research analysts expect that Spectrum Brands Holdings will post $0.53 earnings per share for the current year.
In other Spectrum Brands Holdings news, SVP Stacey L. Neu sold 800 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $128.04, for a total transaction of $102,432.00. Following the completion of the sale, the senior vice president now owns 3,850 shares of the company’s stock, valued at approximately $492,954. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David M. Maura purchased 2,000 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were purchased at an average cost of $127.47 per share, with a total value of $254,940.00. The disclosure for this purchase can be found here. Company insiders own 0.95% of the company’s stock.
A number of large investors have recently made changes to their positions in SPB. GAM Holding AG bought a new stake in Spectrum Brands Holdings during the second quarter valued at approximately $101,000. Fulton Bank N.A. bought a new stake in Spectrum Brands Holdings during the second quarter valued at approximately $233,000. Royal Bank of Canada boosted its stake in Spectrum Brands Holdings by 272.1% in the first quarter. Royal Bank of Canada now owns 2,173 shares of the company’s stock valued at $238,000 after buying an additional 1,589 shares in the last quarter. Legal & General Group Plc boosted its stake in 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 in the last quarter. Finally, Genesee Valley Trust Co. boosted its stake in 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 in the last quarter. 45.41% of the stock is owned by institutional investors and hedge funds.
Spectrum Brands Holdings Company Profile
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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