Spectrum Brands (NYSE:SPB) had its price objective lowered by equities research analysts at Wells Fargo & Co from $85.00 to $75.00 in a research report issued on Wednesday, The Fly reports. The brokerage currently has a “market perform” rating on the stock. Wells Fargo & Co’s price target would suggest a potential upside of 12.82% from the stock’s previous close.

SPB has been the subject of a number of other reports. Bank of America reduced their price target on shares of Spectrum Brands from $91.00 to $84.00 and set a “hold” rating for the company in a research report on Thursday, October 4th. ValuEngine lowered shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Zacks Investment Research lowered shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, September 26th. Finally, TheStreet lowered shares of Spectrum Brands from a “b-” rating to a “c+” rating in a research report on Friday, September 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. Spectrum Brands has a consensus rating of “Buy” and a consensus price target of $118.45.

Shares of NYSE SPB traded down $1.87 during mid-day trading on Wednesday, reaching $66.48. The company had a trading volume of 17,076 shares, compared to its average volume of 444,613. The company has a debt-to-equity ratio of 3.07, a current ratio of 3.14 and a quick ratio of 2.68. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of -110.73 and a beta of 1.64. Spectrum Brands has a 12-month low of $58.88 and a 12-month high of $119.94.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, July 26th. The company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.21. The business had revenue of $945.50 million during the quarter, compared to analyst estimates of $900.23 million. Spectrum Brands had a net margin of 22.32% and a negative return on equity of 4.00%. The firm’s revenue was down 27.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.71 earnings per share. On average, analysts predict that Spectrum Brands will post 3.52 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of SPB. Nisa Investment Advisors LLC bought a new position in Spectrum Brands during the third quarter valued at approximately $140,000. NJ State Employees Deferred Compensation Plan bought a new position in Spectrum Brands during the third quarter valued at approximately $224,000. Laurion Capital Management LP acquired a new position in Spectrum Brands during the second quarter valued at approximately $269,000. Quantitative Systematic Strategies LLC acquired a new position in Spectrum Brands during the second quarter valued at approximately $307,000. Finally, State of Alaska Department of Revenue grew its holdings in Spectrum Brands by 100.7% during the third quarter. State of Alaska Department of Revenue now owns 4,555 shares of the company’s stock valued at $340,000 after purchasing an additional 2,285 shares during the last quarter.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc, through its subsidiaries, operates as a branded consumer products company that manufactures, markets, and distributes branded consumer products. It supplies consumer batteries, residential locksets, residential builders' hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, personal insect repellents, and auto care products, as well as lawn and garden, and home pest control products.

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The Fly

Analyst Recommendations for Spectrum Brands (NYSE:SPB)

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