Spectrum Brands’ (SPB) “Buy” Rating Reiterated at Wells Fargo & Co
Spectrum Brands (NYSE:SPB)‘s stock had its “buy” rating reiterated by Wells Fargo & Co in a research report issued on Thursday, February 8th. They currently have a $132.00 price target on the stock. Wells Fargo & Co’s target price indicates a potential upside of 28.17% from the company’s current price.
A number of other equities analysts also recently weighed in on the stock. Oppenheimer restated a “buy” rating and set a $167.00 target price on shares of Spectrum Brands in a report on Monday, November 20th. Canaccord Genuity restated a “buy” rating on shares of Spectrum Brands in a report on Wednesday, November 15th. UBS Group boosted their target price on shares of Spectrum Brands from $124.00 to $140.00 in a report on Tuesday, January 16th. Jefferies Group restated a “buy” rating and set a $143.00 target price on shares of Spectrum Brands in a report on Thursday, October 12th. Finally, BMO Capital Markets set a $132.00 target price on shares of Spectrum Brands and gave the stock a “buy” rating in a report on Friday, November 17th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $141.80.
Shares of Spectrum Brands (SPB) traded down $2.54 during mid-day trading on Thursday, hitting $102.99. 468,053 shares of the stock were exchanged, compared to its average volume of 775,831. The company has a debt-to-equity ratio of 2.01, a quick ratio of 2.19 and a current ratio of 2.70. The company has a market capitalization of $5,929.84, a price-to-earnings ratio of 22.13, a PEG ratio of 1.95 and a beta of 0.69. Spectrum Brands has a twelve month low of $98.11 and a twelve month high of $146.09.
Several large investors have recently added to or reduced their stakes in SPB. Alliancebernstein L.P. increased its holdings in shares of Spectrum Brands by 19.9% in the second 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 last quarter. Voya Investment Management LLC increased its holdings in shares of Spectrum Brands by 26.3% in the second quarter. Voya Investment Management LLC now owns 35,393 shares of the company’s stock valued at $4,425,000 after purchasing an additional 7,373 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Spectrum Brands by 125.2% in the second quarter. Royal Bank of Canada now owns 24,106 shares of the company’s stock valued at $3,015,000 after purchasing an additional 13,404 shares during the last quarter. Macquarie Group Ltd. increased its holdings in shares of Spectrum Brands by 46,677.8% in the second quarter. Macquarie Group Ltd. now owns 8,420 shares of the company’s stock valued at $1,052,000 after purchasing an additional 8,402 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new position in shares of Spectrum Brands in the second quarter valued at $12,046,000. Hedge funds and other institutional investors own 47.27% of the company’s stock.
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About Spectrum Brands
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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