Spectrum Brands Holdings’ (SPB) “Buy” Rating Reaffirmed at Jefferies Group LLC
Jefferies Group LLC restated their buy rating on shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) in a research report sent to investors on Thursday morning. The brokerage currently has a $142.00 target price on the stock.
A number of other research analysts have also recently commented on the stock. Canaccord Genuity reissued a buy rating on shares of Spectrum Brands Holdings in a report on Wednesday, November 15th. Royal Bank Of Canada reissued a buy rating and issued a $155.00 target price on shares of Spectrum Brands Holdings in a report on Wednesday, November 15th. Wells Fargo & Company reissued an outperform rating and issued a $125.00 target price (down previously from $147.00) on shares of Spectrum Brands Holdings in a report on Tuesday, October 31st. KeyCorp set a $130.00 target price on shares of Spectrum Brands Holdings and gave the stock a buy rating in a report on Monday, October 16th. Finally, Zacks Investment Research raised Spectrum Brands Holdings from a strong sell rating to a hold rating in a research note on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $137.25.
Spectrum Brands Holdings (SPB) opened at $112.39 on Thursday. The company has a market cap of $6,476.59, a PE ratio of 20.58, a PEG ratio of 1.78 and a beta of 0.75. The company has a quick ratio of 0.75, a current ratio of 1.44 and a debt-to-equity ratio of 2.06. Spectrum Brands Holdings has a fifty-two week low of $98.11 and a fifty-two week high of $146.09.
Spectrum Brands Holdings (NYSE:SPB) last posted its earnings results on Thursday, November 16th. The company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.12). The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. Spectrum Brands Holdings had a return on equity of 17.48% and a net margin of 5.91%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $1.31 EPS. equities research analysts forecast that Spectrum Brands Holdings will post 6.29 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Tuesday, November 28th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Monday, November 27th. Spectrum Brands Holdings’s dividend payout ratio is currently 33.33%.
Institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank increased its stake in shares of Spectrum Brands Holdings by 1.6% in the second quarter. Swiss National Bank now owns 96,300 shares of the company’s stock valued at $12,041,000 after buying an additional 1,500 shares during the period. Alliancebernstein L.P. increased its position in Spectrum Brands Holdings by 19.9% during the 2nd quarter. Alliancebernstein L.P. now owns 17,160 shares of the company’s stock valued at $2,146,000 after purchasing an additional 2,851 shares during the period. Eagle Asset Management Inc. increased its position in Spectrum Brands Holdings by 27.3% during the 2nd quarter. Eagle Asset Management Inc. now owns 54,260 shares of the company’s stock valued at $6,784,000 after purchasing an additional 11,629 shares during the period. Virginia Retirement Systems ET AL increased its position in Spectrum Brands Holdings by 14.8% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 52,100 shares of the company’s stock valued at $6,515,000 after purchasing an additional 6,700 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in Spectrum Brands Holdings by 85.6% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 100,908 shares of the company’s stock valued at $12,618,000 after purchasing an additional 46,537 shares during the period. 47.13% of the stock is owned by institutional investors.
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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