Raymond James downgraded shares of Spectrum Brands (NYSE:SPB) from an outperform rating to a market perform rating in a research report report published on Tuesday morning, Marketbeat reports.

Several other brokerages have also issued reports on SPB. TheStreet raised Spectrum Brands from a c rating to a b- rating in a research report on Monday, August 20th. BMO Capital Markets increased their target price on Spectrum Brands from $95.00 to $100.00 and gave the stock a buy rating in a research report on Tuesday, July 31st. Gabelli reissued a buy rating on shares of Spectrum Brands in a research report on Friday, July 27th. ValuEngine lowered Spectrum Brands from a buy rating to a hold rating in a research report on Thursday, August 2nd. Finally, Zacks Investment Research raised Spectrum Brands from a hold rating to a buy rating and set a $89.00 price objective for the company in a research report on Tuesday, September 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $106.90.

Shares of NYSE:SPB opened at $49.25 on Tuesday. Spectrum Brands has a 52-week low of $45.88 and a 52-week high of $119.94. The company has a market capitalization of $2.57 billion, a PE ratio of 13.91, a PEG ratio of 1.46 and a beta of 1.66. The company has a debt-to-equity ratio of 3.07, a current ratio of 3.14 and a quick ratio of 2.68.

Spectrum Brands (NYSE:SPB) last announced its earnings results on Tuesday, November 20th. The company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.29). Spectrum Brands had a negative return on equity of 2.44% and a net margin of 23.26%. The firm had revenue of $787.80 million during the quarter, compared to the consensus estimate of $803.72 million. During the same period in the prior year, the company posted $1.35 EPS. The firm’s revenue was up .0% on a year-over-year basis. Equities research analysts forecast that Spectrum Brands will post 4.11 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 18th. Investors of record on Tuesday, November 27th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Monday, November 26th. Spectrum Brands’s dividend payout ratio (DPR) is presently 47.46%.

A number of hedge funds have recently bought and sold shares of SPB. Captrust Financial Advisors bought a new stake in shares of Spectrum Brands in the 3rd quarter worth $116,000. Point72 Hong Kong Ltd bought a new stake in shares of Spectrum Brands in the 3rd quarter worth $135,000. Nisa Investment Advisors LLC bought a new stake in shares of Spectrum Brands in the 3rd quarter worth $140,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Spectrum Brands by 90.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,765 shares of the company’s stock worth $207,000 after purchasing an additional 1,314 shares in the last quarter. Finally, Cadence Capital Management LLC bought a new stake in shares of Spectrum Brands in the 3rd quarter worth $218,000.

About Spectrum Brands

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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Analyst Recommendations for Spectrum Brands (NYSE:SPB)

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