Analysts Set Spectrum Brands Holdings Inc. (NYSE:SPB) Price Target at $98.83

Shares of Spectrum Brands Holdings Inc. (NYSE:SPB) have received a consensus recommendation of “Hold” from the seven analysts that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $98.8333.

SPB has been the topic of a number of research reports. Wells Fargo & Company upped their price target on Spectrum Brands from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Canaccord Genuity Group lifted their price objective on Spectrum Brands from $99.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $96.00 target price on shares of Spectrum Brands in a research report on Monday, August 10th. Royal Bank Of Canada lowered Spectrum Brands from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $85.00 to $92.00 in a report on Monday, August 10th. Finally, Wall Street Zen cut Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st.

Spectrum Brands Stock Up 3.7%

Shares of NYSE SPB opened at $89.26 on Monday. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 27.21, a price-to-earnings-growth ratio of 2.71 and a beta of 0.65. Spectrum Brands has a 52 week low of $49.99 and a 52 week high of $99.06. The firm has a 50-day moving average price of $87.52 and a 200 day moving average price of $81.86. The company has a quick ratio of 1.61, a current ratio of 2.41 and a debt-to-equity ratio of 0.33.

Spectrum Brands (NYSE:SPB) last issued its earnings results on Friday, August 7th. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $1.46 by $1.33. Spectrum Brands had a net margin of 2.76% and a return on equity of 10.06%. The company had revenue of $753.30 million for the quarter, compared to analyst estimates of $732.19 million. During the same period in the prior year, the business posted $1.24 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities research analysts anticipate that Spectrum Brands will post 6.38 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, August 25th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, August 25th. Spectrum Brands’s dividend payout ratio (DPR) is 57.32%.

Institutional Trading of Spectrum Brands

Institutional investors and hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC purchased a new position in shares of Spectrum Brands during the 2nd quarter worth approximately $27,000. Allworth Financial LP purchased a new stake in Spectrum Brands in the 2nd quarter valued at approximately $29,000. Northwestern Mutual Wealth Management Co. lifted its stake in Spectrum Brands by 7,237.5% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock valued at $31,000 after buying an additional 579 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Spectrum Brands by 96.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock valued at $37,000 after buying an additional 310 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in Spectrum Brands by 111.7% during the 4th quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock valued at $38,000 after buying an additional 335 shares during the last quarter.

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.