Spectrum Brands Holdings Inc. (SPB) Sees Unusually-High Trading Volume
Shares of Spectrum Brands Holdings Inc. (NYSE:SPB) saw unusually-high trading volume on Tuesday . Approximately 257,180 shares changed hands during mid-day 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.
SPB has been the topic of a number of recent analyst reports. Jefferies Group reissued a “buy” rating and issued a $143.00 price objective on shares of Spectrum Brands Holdings in a research note on Tuesday, May 10th. Zacks Investment Research raised Spectrum Brands Holdings from a “hold” rating to a “buy” rating and set a $131.00 price objective on the stock in a research note on Saturday, June 18th. Monness Crespi & Hardt raised their price objective on Spectrum Brands Holdings from $125.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Deutsche Bank AG reissued a “buy” rating and issued a $140.00 price objective (up from $125.00) on shares of Spectrum Brands Holdings in a research note on Sunday, July 24th. Finally, Piper Jaffray Cos. initiated coverage on Spectrum Brands Holdings in a research note on Thursday. They issued an “overweight” rating and a $147.00 price objective on the stock. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Spectrum Brands Holdings currently has a consensus rating of “Buy” and an average price target of $136.50.
The firm has a market cap of $7.96 billion and a P/E ratio of 27.21. The company has a 50-day moving average of $126.72 and a 200 day moving average of $114.86.
Spectrum Brands Holdings (NYSE:SPB) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.04. During the same period in the prior year, the company earned $1.42 earnings per share. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.36 billion. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts anticipate that Spectrum Brands Holdings Inc. will post $5.17 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 13th. Stockholders of record on Tuesday, August 16th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, August 12th. This represents a $1.52 annualized dividend and a dividend yield of 1.13%.
In other news, Chairman David M. Maura acquired 4,350 shares of Spectrum Brands Holdings stock in a transaction dated Monday, June 13th. The stock was bought at an average cost of $114.52 per share, with a total value of $498,162.00. Following the completion of the transaction, the chairman now directly owns 277,633 shares of the company’s stock, valued at $31,794,531.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Stacey L. Neu sold 800 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $128.04, for a total value of $102,432.00. Following the transaction, the senior vice president now directly owns 3,850 shares of the company’s stock, valued at $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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