Jefferies Group Boosts Spectrum Brands Holdings Inc. (SPB) Price Target to $160.00
Spectrum Brands Holdings Inc. (NYSE:SPB) had its price target hoisted by Jefferies Group from $157.00 to $160.00 in a research report report published on Thursday morning. Jefferies Group currently has a buy rating on the stock.
Other research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Spectrum Brands Holdings from a buy rating to a hold rating in a research report on Friday, July 8th. Monness Crespi & Hardt increased their price target on shares of Spectrum Brands Holdings from $125.00 to $138.00 and gave the stock a buy rating in a research report on Friday, July 29th. Deutsche Bank AG reiterated a buy rating and set a $140.00 price target (up previously from $125.00) on shares of Spectrum Brands Holdings in a research report on Sunday, July 24th. Finally, Piper Jaffray Cos. started coverage on shares of Spectrum Brands Holdings in a research report on Thursday, September 1st. They set an overweight rating and a $147.00 price target on the stock. Eight analysts have rated the stock with a buy rating, Spectrum Brands Holdings has an average rating of Buy and a consensus target price of $142.50.
Spectrum Brands Holdings (NYSE:SPB) opened at 134.98 on Thursday. The firm’s 50-day moving average price is $132.84 and its 200 day moving average price is $122.18. The company has a market capitalization of $8.02 billion, a price-to-earnings ratio of 27.42 and a beta of 0.65. Spectrum Brands Holdings has a 12-month low of $87.65 and a 12-month high of $138.95.
Spectrum Brands Holdings (NYSE:SPB) last announced its earnings results on Thursday, July 28th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.04. Spectrum Brands Holdings had a net margin of 5.44% and a return on equity of 17.79%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the business posted $1.42 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts expect that Spectrum Brands Holdings will post $0.53 EPS for the current fiscal year.
In other Spectrum Brands Holdings news, insider David M. Maura purchased 2,000 shares of the company’s stock in a transaction dated Thursday, September 15th. The stock was purchased at an average price of $127.47 per share, with a total value of $254,940.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Stacey L. Neu sold 800 shares of the firm’s 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 transaction, the senior vice president now directly owns 3,850 shares of the company’s stock, valued at approximately $492,954. The disclosure for this sale can be found here. Insiders own 0.95% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in SPB. JPMorgan Chase & Co. increased its position in Spectrum Brands Holdings by 10.9% in the first quarter. JPMorgan Chase & Co. now owns 1,105,965 shares of the company’s stock valued at $120,860,000 after buying an additional 108,842 shares during the last quarter. Alpine Partners VI LLC acquired a new position in Spectrum Brands Holdings during the first quarter valued at about $1,226,000. Credit Agricole S A increased its position in Spectrum Brands Holdings by 542.6% in the first quarter. Credit Agricole S A now owns 393,711 shares of the company’s stock valued at $43,025,000 after buying an additional 332,446 shares during the last quarter. State Street Corp increased its position in Spectrum Brands Holdings by 4.1% in the first quarter. State Street Corp now owns 340,232 shares of the company’s stock valued at $37,182,000 after buying an additional 13,338 shares during the last quarter. Finally, UBS Group AG increased its position in Spectrum Brands Holdings by 117.5% in the first quarter. UBS Group AG now owns 8,779 shares of the company’s stock valued at $960,000 after buying an additional 4,742 shares during the last quarter. 45.38% of the stock is owned by hedge funds and other institutional investors.
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.
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