Spectrum Brands Holdings Inc. (NYSE:SPB) Given Consensus Recommendation of “Hold” by Brokerages

Spectrum Brands Holdings Inc. (NYSE:SPB) has been assigned a consensus rating of “Hold” from the seven research firms that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $98.8333.

Several brokerages recently weighed in on SPB. Oppenheimer increased their target price on Spectrum Brands from $85.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday. Weiss Ratings reissued a “hold (c+)” rating on shares of Spectrum Brands in a research report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $96.00 price target on shares of Spectrum Brands in a research note on Monday. Monness Crespi & Hardt raised their price objective on Spectrum Brands from $86.00 to $105.00 and gave the stock a “buy” rating in a report on Monday. Finally, Wells Fargo & Company lifted their price objective on Spectrum Brands from $85.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday.

Insiders Place Their Bets

In other Spectrum Brands news, CEO David M. Maura acquired 2,500 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was bought at an average cost of $72.85 per share, for a total transaction of $182,125.00. Following the completion of the purchase, the chief executive officer directly owned 790,708 shares in the company, valued at $57,603,077.80. This represents a 0.32% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Spectrum Brands

Several hedge funds and other institutional investors have recently made changes to their positions in SPB. Global Retirement Partners LLC purchased a new stake in Spectrum Brands during the 2nd quarter worth $27,000. Northwestern Mutual Wealth Management Co. raised its position in Spectrum Brands by 7,237.5% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock valued at $31,000 after purchasing an additional 579 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of Spectrum Brands by 96.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock worth $37,000 after purchasing an additional 310 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Spectrum Brands by 111.7% during the fourth quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock worth $38,000 after purchasing an additional 335 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Spectrum Brands in the second quarter worth about $41,000.

Spectrum Brands Stock Performance

Shares of SPB stock opened at $87.68 on Thursday. Spectrum Brands has a one year low of $49.99 and a one year high of $99.06. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.42 and a current ratio of 2.29. The company has a 50 day moving average price of $85.64 and a 200 day moving average price of $79.51. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 26.73, a price-to-earnings-growth ratio of 2.83 and a beta of 0.63.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Friday, August 7th. The company reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Spectrum Brands’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.24 earnings per share. Sell-side analysts anticipate that Spectrum Brands will post 5.32 EPS for the current year.

Spectrum Brands Dividend Announcement

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

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.