Spectrum Brands (NYSE:SPB) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Spectrum Brands (NYSE:SPB) from a hold rating to a sell rating in a research report report published on Monday.

Several other research firms have also weighed in on SPB. Royal Bank Of Canada set a $75.00 price objective on shares of Spectrum Brands and gave the company an “outperform” rating in a research note on Monday, August 11th. Wells Fargo & Company reduced their price target on shares of Spectrum Brands from $60.00 to $55.00 and set an “equal weight” rating for the company in a report on Thursday, September 25th. Canaccord Genuity Group decreased their price target on shares of Spectrum Brands from $77.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Spectrum Brands in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $73.80.

Spectrum Brands Trading Down 1.3%

Shares of SPB stock opened at $53.47 on Monday. Spectrum Brands has a fifty-two week low of $49.99 and a fifty-two week high of $96.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.50 and a current ratio of 2.42. The stock has a 50 day simple moving average of $53.73 and a two-hundred day simple moving average of $56.09. The company has a market cap of $1.29 billion, a P/E ratio of 19.95 and a beta of 0.82.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in shares of Spectrum Brands by 120.3% in the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock worth $26,000 after acquiring an additional 267 shares during the last quarter. Headlands Technologies LLC acquired a new position in Spectrum Brands during the 2nd quarter valued at about $41,000. SJS Investment Consulting Inc. bought a new stake in Spectrum Brands during the 3rd quarter worth approximately $47,000. State of Alaska Department of Revenue purchased a new stake in shares of Spectrum Brands in the third quarter worth approximately $49,000. Finally, Blue Trust Inc. raised its stake in shares of Spectrum Brands by 44.8% in the second quarter. Blue Trust Inc. now owns 1,060 shares of the company’s stock worth $56,000 after purchasing an additional 328 shares during the last quarter.

Spectrum Brands Company Profile

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.