Spectrum Brands Holdings Inc. (NYSE:SPB) Receives $86.20 Average Price Target from Analysts

Shares of Spectrum Brands Holdings Inc. (NYSE:SPB) have received an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $86.00.

A number of brokerages have recently issued reports on SPB. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $81.00 price objective on shares of Spectrum Brands in a research note on Friday, May 8th. Wall Street Zen cut shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research note on Sunday. Weiss Ratings upgraded shares of Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Finally, Canaccord Genuity Group dropped their price objective on shares of Spectrum Brands from $100.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, June 17th.

Spectrum Brands Price Performance

NYSE:SPB opened at $83.16 on Tuesday. The stock has a market cap of $1.93 billion, a P/E ratio of 15.87, a PEG ratio of 2.64 and a beta of 0.65. Spectrum Brands has a one year low of $49.99 and a one year high of $86.96. The company has a fifty day moving average price of $80.81 and a 200 day moving average price of $73.03. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.29 and a quick ratio of 1.42.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, May 7th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.04 by $0.21. The firm had revenue of $708.90 million during the quarter, compared to analysts’ expectations of $676.45 million. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 EPS. Analysts anticipate that Spectrum Brands will post 5.32 earnings per share for the current year.

Spectrum Brands Announces Dividend

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

Insider Activity

In other news, CEO David M. Maura bought 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average price of $72.85 per share, for a total transaction of $182,125.00. Following the transaction, the chief executive officer directly owned 790,708 shares of the company’s stock, valued at $57,603,077.80. This trade represents a 0.32% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Spectrum Brands

Hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its position in shares of Spectrum Brands by 7,237.5% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock worth $31,000 after purchasing an additional 579 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Spectrum Brands by 96.9% during the 4th 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 increased its position in shares of Spectrum Brands by 111.7% during the 4th 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. Headlands Technologies LLC acquired a new stake in Spectrum Brands in the 2nd quarter valued at about $41,000. Finally, Quarry LP acquired a new stake in Spectrum Brands in the 3rd quarter valued at about $51,000.

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.