Wells Fargo & Company Issues Pessimistic Forecast for Spectrum Brands (NYSE:SPB) Stock Price

Spectrum Brands (NYSE:SPB) had its target price reduced by equities research analysts at Wells Fargo & Company from $75.00 to $65.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 8.86% from the stock’s previous close.

A number of other equities analysts have also issued reports on SPB. Canaccord Genuity Group raised Spectrum Brands from a “hold” rating to a “buy” rating and raised their price target for the stock from $94.00 to $102.00 in a report on Friday, February 7th. UBS Group lowered their target price on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, Royal Bank of Canada cut their price target on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.43.

Spectrum Brands Stock Up 0.9 %

Shares of NYSE SPB opened at $59.71 on Wednesday. The stock has a market cap of $1.57 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 1.70 and a beta of 1.03. Spectrum Brands has a 52-week low of $57.93 and a 52-week high of $96.74. The business has a 50-day moving average price of $70.98 and a 200 day moving average price of $82.40. The company has a quick ratio of 1.53, a current ratio of 2.40 and a debt-to-equity ratio of 0.27.

Spectrum Brands (NYSE:SPB) last announced its earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. During the same quarter last year, the firm earned $0.78 EPS. Equities research analysts forecast that Spectrum Brands will post 5.06 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC acquired a new position in shares of Spectrum Brands during the 4th quarter worth $50,000. Versant Capital Management Inc boosted its holdings in Spectrum Brands by 101.7% during the first quarter. Versant Capital Management Inc now owns 970 shares of the company’s stock worth $69,000 after buying an additional 489 shares in the last quarter. Blue Trust Inc. grew its position in Spectrum Brands by 46.5% during the fourth quarter. Blue Trust Inc. now owns 1,182 shares of the company’s stock worth $100,000 after buying an additional 375 shares during the period. KBC Group NV increased its holdings in Spectrum Brands by 46.3% in the fourth quarter. KBC Group NV now owns 1,233 shares of the company’s stock valued at $104,000 after buying an additional 390 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Spectrum Brands by 89.6% in the fourth quarter. Lazard Asset Management LLC now owns 1,464 shares of the company’s stock valued at $123,000 after buying an additional 692 shares in the last quarter.

About Spectrum Brands

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.