Spectrum Brands (NYSE:SPB) PT Raised to $95.00

Spectrum Brands (NYSE:SPB) had its price objective raised by research analysts at Wells Fargo & Company from $85.00 to $95.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential downside of 0.05% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Canaccord Genuity Group restated a “hold” rating and issued a $86.00 price objective (up previously from $83.00) on shares of Spectrum Brands in a report on Friday, February 9th. Royal Bank of Canada lifted their price objective on shares of Spectrum Brands from $100.00 to $114.00 and gave the company an “outperform” rating in a report on Friday. Canaccord Genuity Group cut shares of Spectrum Brands from a “buy” rating to a “hold” rating and lifted their price objective for the company from $83.00 to $86.00 in a report on Friday, February 9th. Monness Crespi & Hardt boosted their price objective on shares of Spectrum Brands from $98.00 to $106.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Oppenheimer boosted their price objective on shares of Spectrum Brands from $88.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $100.33.

Spectrum Brands Trading Up 0.5 %

SPB stock traded up $0.44 during trading on Friday, reaching $95.05. 163,081 shares of the stock were exchanged, compared to its average volume of 376,891. Spectrum Brands has a 1 year low of $65.27 and a 1 year high of $96.74. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 2.07, a P/E/G ratio of 0.59 and a beta of 1.20. The business has a 50 day moving average price of $83.58 and a 200-day moving average price of $79.58. The company has a current ratio of 3.36, a quick ratio of 2.75 and a debt-to-equity ratio of 0.60.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, May 9th. The company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $1.13. Spectrum Brands had a net margin of 63.89% and a return on equity of 4.66%. The business had revenue of $718.50 million during the quarter, compared to analysts’ expectations of $708.54 million. During the same period last year, the business earned ($0.14) earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, research analysts predict that Spectrum Brands will post 3.79 earnings per share for the current year.

Hedge Funds Weigh In On Spectrum Brands

Institutional investors have recently bought and sold shares of the company. Fidelis Capital Partners LLC acquired a new position in Spectrum Brands in the 1st quarter valued at $27,000. Central Pacific Bank Trust Division acquired a new position in Spectrum Brands in the 1st quarter valued at $30,000. Larson Financial Group LLC increased its stake in Spectrum Brands by 72.6% in the 4th quarter. Larson Financial Group LLC now owns 359 shares of the company’s stock valued at $29,000 after buying an additional 151 shares during the period. International Assets Investment Management LLC increased its stake in Spectrum Brands by 1,713.6% in the 4th quarter. International Assets Investment Management LLC now owns 399 shares of the company’s stock valued at $32,000 after buying an additional 377 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of Spectrum Brands by 53.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the company’s stock worth $36,000 after purchasing an additional 160 shares during the period.

About Spectrum Brands

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.