Spectrum Brands (NYSE:SPB) Stock Gets Downgrade from Wall Street Zen

Spectrum Brands (NYSE:SPB) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other equities research analysts also recently weighed in on the stock. Canaccord Genuity Group upped their price objective on shares of Spectrum Brands from $99.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Weiss Ratings cut shares of Spectrum Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Oppenheimer boosted their price target on shares of Spectrum Brands from $85.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $96.00 price target on shares of Spectrum Brands in a research note on Monday, August 10th. Finally, UBS Group started coverage on shares of Spectrum Brands in a report on Thursday, October 15th. They issued a “buy” rating and a $97.00 price objective for the company. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.86.

Spectrum Brands Stock Down 0.2%

Shares of Spectrum Brands stock opened at $86.46 on Friday. The business’s fifty day moving average price is $82.93 and its two-hundred day moving average price is $80.94. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.61. The company has a market capitalization of $1.99 billion, a P/E ratio of 26.36, a PEG ratio of 3.10 and a beta of 0.81. Spectrum Brands has a 1-year low of $51.41 and a 1-year high of $99.06.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Friday, August 7th. The company reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $1.33. The company had revenue of $753.30 million during the quarter, compared to analysts’ expectations of $732.19 million. Spectrum Brands had a return on equity of 10.06% and a net margin of 2.76%. 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 business posted $1.24 earnings per share. As a group, research analysts forecast that Spectrum Brands will post 6.26 EPS for the current year.

Institutional Trading of Spectrum Brands

Hedge funds and other institutional investors have recently modified their holdings of the company. Diversified Trust Co acquired a new stake in Spectrum Brands during the third quarter valued at approximately $462,000. Fifth Third Bancorp boosted its holdings in Spectrum Brands by 7.4% during the third quarter. Fifth Third Bancorp now owns 12,746 shares of the company’s stock worth $1,013,000 after buying an additional 879 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in Spectrum Brands by 81.6% during the third quarter. Ritholtz Wealth Management now owns 10,419 shares of the company’s stock worth $828,000 after buying an additional 4,681 shares in the last quarter. Fulcrum Asset Management LLP acquired a new position in Spectrum Brands in the third quarter worth approximately $61,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Spectrum Brands in the third quarter worth approximately $733,000.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc (NYSE:SPB) is a consumer products company that develops, markets and distributes branded products for households and pets. The company sells its products through retailers, e-commerce channels and other distribution partners in the United States and international markets.

Spectrum Brands’ Home and Personal Care portfolio includes small household appliances, personal-care products and related accessories sold under brands such as Remington, Russell Hobbs, George Foreman and Farberware.