Spectrum Brands Holdings Inc. (SPB) Hits New 52-Week High at $134.21
Spectrum Brands Holdings Inc. (NYSE:SPB)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $134.21 and last traded at $133.64, with a volume of 103,718 shares traded. The stock had previously closed at $132.85.
A number of equities analysts recently issued reports on SPB shares. Jefferies Group restated a “buy” rating and issued a $143.00 target price on shares of Spectrum Brands Holdings in a research note on Tuesday, May 10th. Zacks Investment Research lowered Spectrum Brands Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, May 12th. Deutsche Bank AG restated a “buy” rating and issued a $140.00 target price (up previously from $125.00) on shares of Spectrum Brands Holdings in a research note on Sunday, July 24th. Monness Crespi & Hardt raised their target price on Spectrum Brands Holdings from $125.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Finally, Piper Jaffray Cos. initiated coverage on Spectrum Brands Holdings in a research note on Thursday. They set an “overweight” rating and a $147.00 price objective for the company. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Spectrum Brands Holdings currently has an average rating of “Buy” and an average target price of $136.50.
The firm’s 50-day moving average price is $127.17 and its 200-day moving average price is $115.00. The company has a market capitalization of $7.93 billion and a price-to-earnings ratio of 27.11.
Spectrum Brands Holdings (NYSE:SPB) last announced its earnings results 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. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.36 billion. Spectrum Brands Holdings’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the company posted $1.42 EPS. Equities research analysts expect that Spectrum Brands Holdings Inc. will post $5.17 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 13th. Stockholders of record on Tuesday, August 16th will be paid a dividend of $0.38 per share. The ex-dividend date is Friday, August 12th. This represents a $1.52 annualized dividend and a dividend yield of 1.14%.
In other news, Chairman David M. Maura purchased 4,350 shares of the business’s stock in a transaction that occurred on Monday, June 13th. The stock was purchased at an average cost of $114.52 per share, with a total value of $498,162.00. Following the completion of the acquisition, the chairman now directly owns 277,633 shares of the company’s stock, valued at approximately $31,794,531.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Stacey L. Neu sold 800 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was 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 $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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