Spectrum Brands (NYSE:SPB) Given New $105.00 Price Target at Monness Crespi & Hardt

Spectrum Brands (NYSE:SPB) had its price objective raised by equities research analysts at Monness Crespi & Hardt from $86.00 to $105.00 in a research note issued to investors on Monday. The firm currently has a “buy” rating on the stock. Monness Crespi & Hardt’s price target would suggest a potential upside of 16.32% from the company’s previous close.

Several other research analysts also recently issued reports on the company. Wall Street Zen downgraded Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Wells Fargo & Company increased their target price on Spectrum Brands from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Spectrum Brands in a research report on Tuesday, July 21st. Royal Bank Of Canada cut Spectrum Brands from an “outperform” rating to a “sector perform” rating and set a $92.00 price target for the company. in a report on Monday. Finally, Canaccord Genuity Group upped their price objective on Spectrum Brands from $99.00 to $110.00 and gave the company a “buy” rating in a research report on Monday. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Spectrum Brands presently has an average rating of “Hold” and a consensus price target of $93.00.

Spectrum Brands Stock Performance

NYSE:SPB opened at $90.27 on Monday. The company has a current ratio of 2.29, a quick ratio of 1.42 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $2.08 billion, a P/E ratio of 27.52, a price-to-earnings-growth ratio of 2.83 and a beta of 0.63. The firm has a 50-day moving average price of $85.44 and a two-hundred day moving average price of $79.33. Spectrum Brands has a twelve month low of $49.99 and a twelve month high of $99.06.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Friday, August 7th. The company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $1.33. The company had revenue of $753.30 million for the quarter, compared to the consensus estimate of $732.19 million. Spectrum Brands had a net margin of 2.76% and a return on equity of 9.99%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.24 earnings per share. As a group, research analysts expect that Spectrum Brands will post 5.32 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO David M. Maura bought 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $72.85 per share, for a total transaction of $182,125.00. Following the completion of the transaction, the chief executive officer owned 790,708 shares in the company, valued at $57,603,077.80. The trade was a 0.32% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.50% of the company’s stock.

Institutional Trading of Spectrum Brands

Several hedge funds and other institutional investors have recently bought and sold shares of SPB. Pzena Investment Management LLC acquired a new position in Spectrum Brands in the 2nd quarter valued at $207,584,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Spectrum Brands by 374,119.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company’s stock worth $129,779,000 after purchasing an additional 2,196,079 shares during the last quarter. Callodine Capital Management LP boosted its holdings in shares of Spectrum Brands by 20.4% during the fourth quarter. Callodine Capital Management LP now owns 2,065,216 shares of the company’s stock worth $122,013,000 after purchasing an additional 350,261 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Spectrum Brands in the second quarter valued at $166,197,000. Finally, LSV Asset Management grew its position in shares of Spectrum Brands by 2.9% in the fourth quarter. LSV Asset Management now owns 602,980 shares of the company’s stock valued at $35,624,000 after purchasing an additional 17,100 shares during the period.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.