Spectrum Brands Holdings, Inc. (SPB) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) from a hold rating to a buy rating in a report published on Wednesday. They currently have $154.00 target price on the stock.
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 analysts also recently commented on SPB. Royal Bank of Canada assumed coverage on shares of Spectrum Brands Holdings in a research report on Tuesday, March 14th. They set an outperform rating and a $160.00 price objective on the stock. BMO Capital Markets set a $155.00 price objective on shares of Spectrum Brands Holdings and gave the company a buy rating in a research report on Friday, January 27th. Jefferies Group LLC boosted their price objective on shares of Spectrum Brands Holdings from $147.00 to $160.00 and gave the company a buy rating in a research report on Friday, January 27th. Wells Fargo & Co reaffirmed a buy rating on shares of Spectrum Brands Holdings in a research report on Thursday, January 26th. Finally, Bank of America Corp downgraded shares of Spectrum Brands Holdings from a buy rating to a neutral rating and lowered their price objective for the company from $135.00 to $130.00 in a research report on Tuesday, January 10th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Spectrum Brands Holdings currently has an average rating of Buy and a consensus target price of $149.63.
Shares of Spectrum Brands Holdings (NYSE:SPB) opened at 140.86 on Wednesday. The company’s 50-day moving average is $135.62 and its 200 day moving average is $129.80. The stock has a market cap of $8.29 billion, a P/E ratio of 24.08 and a beta of 0.65. Spectrum Brands Holdings has a 1-year low of $105.16 and a 1-year high of $143.20.
Spectrum Brands Holdings (NYSE:SPB) last released its quarterly earnings results on Thursday, January 26th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.05. Spectrum Brands Holdings had a net margin of 6.58% and a return on equity of 18.03%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. Equities research analysts anticipate that Spectrum Brands Holdings will post $5.92 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 7th. Investors of record on Tuesday, February 14th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, February 10th. This is an increase from Spectrum Brands Holdings’s previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a yield of 1.19%. Spectrum Brands Holdings’s payout ratio is presently 30.22%.
A number of hedge funds and other institutional investors have recently made changes to their positions in SPB. Public Employees Retirement Association of Colorado increased its stake in Spectrum Brands Holdings by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 792 shares of the company’s stock valued at $109,000 after buying an additional 3 shares during the period. Riverhead Capital Management LLC bought a new stake in Spectrum Brands Holdings during the third quarter valued at approximately $124,000. Acrospire Investment Management LLC increased its stake in Spectrum Brands Holdings by 150.0% in the third quarter. Acrospire Investment Management LLC now owns 1,000 shares of the company’s stock valued at $138,000 after buying an additional 600 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in Spectrum Brands Holdings during the fourth quarter valued at approximately $133,000. Finally, GAM Holding AG increased its stake in Spectrum Brands Holdings by 47.1% in the third quarter. GAM Holding AG now owns 1,250 shares of the company’s stock valued at $172,000 after buying an additional 400 shares during the period. 47.83% of the stock is currently owned by hedge funds and other institutional investors.
Spectrum Brands Holdings Company Profile
Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.
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