Spectrum Brands (NYSE:SPB) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Spectrum Brands Holdings Inc. (NYSE:SPB)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $71.24 and traded as high as $82.83. Spectrum Brands shares last traded at $81.3590, with a volume of 281,161 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SPB. Weiss Ratings raised shares of Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $81.00 price objective on shares of Spectrum Brands in a report on Friday, May 8th. Finally, Canaccord Genuity Group upped their price objective on shares of Spectrum Brands from $94.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $86.20.

Spectrum Brands Stock Down 1.9%

The stock’s fifty day moving average is $79.63 and its two-hundred day moving average is $71.63. 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 $1.88 billion, a PE ratio of 15.49, a P/E/G ratio of 2.60 and a beta of 0.65.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.21. The company had revenue of $708.90 million for the quarter, compared to the consensus estimate of $676.45 million. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 EPS. As a group, analysts predict that Spectrum Brands Holdings Inc. will post 5.32 EPS for the current year.

Spectrum Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Tuesday, May 26th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Tuesday, May 26th. Spectrum Brands’s payout ratio is currently 35.88%.

Insider Transactions at Spectrum Brands

In other news, CEO David M. Maura acquired 2,500 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of $72.85 per share, for a total transaction of $182,125.00. Following the purchase, the chief executive officer owned 790,708 shares of the company’s stock, valued at approximately $57,603,077.80. The trade was a 0.32% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Spectrum Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA bought a new stake in Spectrum Brands in the 1st quarter valued at about $311,000. Edgestream Partners L.P. bought a new stake in shares of Spectrum Brands during the first quarter valued at about $2,224,000. California State Teachers Retirement System increased its position in shares of Spectrum Brands by 17.8% during the first quarter. California State Teachers Retirement System now owns 25,279 shares of the company’s stock valued at $1,863,000 after buying an additional 3,813 shares during the period. Empowered Funds LLC increased its position in shares of Spectrum Brands by 5.2% during the first quarter. Empowered Funds LLC now owns 93,632 shares of the company’s stock valued at $6,901,000 after buying an additional 4,612 shares during the period. Finally, Maverick Capital Ltd. increased its position in shares of Spectrum Brands by 31.5% during the first quarter. Maverick Capital Ltd. now owns 67,826 shares of the company’s stock valued at $4,999,000 after buying an additional 16,238 shares during the period.

About Spectrum Brands

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.