Spectrum Brands Holdings Inc. (NYSE:SPB) Receives $83.00 Average Target Price from Brokerages

Spectrum Brands Holdings Inc. (NYSE:SPB) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $83.00.

A number of brokerages have recently weighed in on SPB. Oppenheimer boosted their target price on Spectrum Brands from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Spectrum Brands in a report on Monday, December 29th. Canaccord Genuity Group boosted their price objective on Spectrum Brands from $75.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Wall Street Zen upgraded Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, Wells Fargo & Company raised their target price on Spectrum Brands from $62.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, February 6th.

Spectrum Brands Stock Performance

NYSE SPB opened at $76.19 on Wednesday. The company has a fifty day moving average price of $63.93 and a 200-day moving average price of $58.04. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 2.55 and a beta of 0.68. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.21 and a quick ratio of 1.38. Spectrum Brands has a 1 year low of $49.99 and a 1 year high of $80.28.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Thursday, February 5th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.63. Spectrum Brands had a net margin of 3.76% and a return on equity of 7.65%. The business had revenue of $677.00 million for the quarter, compared to analysts’ expectations of $667.59 million. During the same period in the previous year, the company earned $1.02 earnings per share. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, equities research analysts predict that Spectrum Brands will post 5.06 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, February 17th. Spectrum Brands’s dividend payout ratio (DPR) is 43.42%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SPB. Maverick Capital Ltd. purchased a new stake in shares of Spectrum Brands during the 4th quarter worth approximately $3,048,000. CANADA LIFE ASSURANCE Co grew its holdings in Spectrum Brands by 7.2% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 7,105 shares of the company’s stock valued at $420,000 after purchasing an additional 479 shares during the period. Callodine Capital Management LP increased its position in Spectrum Brands by 20.4% in the fourth quarter. Callodine Capital Management LP now owns 2,065,216 shares of the company’s stock worth $122,013,000 after buying an additional 350,261 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Spectrum Brands by 12.6% in the fourth quarter. First Trust Advisors LP now owns 315,797 shares of the company’s stock valued at $18,657,000 after buying an additional 35,381 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Spectrum Brands by 6.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 579,941 shares of the company’s stock valued at $34,263,000 after buying an additional 33,194 shares during the period.

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.