Jefferies Group LLC Reaffirms Buy Rating for Spectrum Brands Holdings, Inc. (SPB)
Jefferies Group LLC reissued their buy rating on shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) in a research report sent to investors on Thursday. They currently have a $143.00 price target on the stock.
SPB has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Spectrum Brands Holdings from a hold rating to a sell rating in a report on Saturday, July 29th. Royal Bank Of Canada set a $155.00 price target on shares of Spectrum Brands Holdings and gave the company a buy rating in a report on Friday, July 28th. BidaskClub downgraded shares of Spectrum Brands Holdings from a hold rating to a sell rating in a report on Thursday, June 22nd. Canaccord Genuity reaffirmed a buy rating on shares of Spectrum Brands Holdings in a report on Thursday, September 28th. Finally, BMO Capital Markets lowered their price target on shares of Spectrum Brands Holdings from $155.00 to $140.00 and set an outperform rating for the company in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $144.33.
Shares of Spectrum Brands Holdings (SPB) opened at 105.85 on Thursday. Spectrum Brands Holdings has a 1-year low of $101.93 and a 1-year high of $146.09. The stock has a 50 day moving average price of $105.29 and a 200-day moving average price of $122.06. The company has a market cap of $6.14 billion, a price-to-earnings ratio of 21.67 and a beta of 0.65.
Spectrum Brands Holdings (NYSE:SPB) last announced its quarterly earnings results on Thursday, July 27th. The company reported $1.71 EPS for the quarter, missing the Zacks’ consensus estimate of $1.92 by ($0.21). Spectrum Brands Holdings had a net margin of 5.87% and a return on equity of 17.46%. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the business posted $1.73 EPS. The firm’s revenue was down 4.2% on a year-over-year basis. Equities research analysts forecast that Spectrum Brands Holdings will post $5.59 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in SPB. UBS Asset Management Americas Inc. lifted its stake in Spectrum Brands Holdings by 37.2% in the first quarter. UBS Asset Management Americas Inc. now owns 108,064 shares of the company’s stock worth $15,022,000 after purchasing an additional 29,326 shares during the last quarter. Karp Capital Management Corp bought a new stake in Spectrum Brands Holdings in the first quarter worth about $385,000. TD Asset Management Inc. bought a new stake in Spectrum Brands Holdings in the first quarter worth about $211,000. Envestnet Asset Management Inc. lifted its stake in Spectrum Brands Holdings by 18.0% in the first quarter. Envestnet Asset Management Inc. now owns 1,727 shares of the company’s stock worth $239,000 after purchasing an additional 264 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Spectrum Brands Holdings by 9.4% in the first quarter. Victory Capital Management Inc. now owns 8,991 shares of the company’s stock worth $1,250,000 after purchasing an additional 772 shares during the last quarter. 47.05% of the stock is owned by institutional investors and hedge funds.
About Spectrum Brands Holdings
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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