Spectrum Brands Holdings Inc. (NYSE:SPB) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Spectrum Brands Holdings Inc. (NYSE:SPB) have received an average recommendation of “Moderate Buy” from the six analysts that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $87.00.

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $81.00 price target on shares of Spectrum Brands in a report on Friday, May 8th. Canaccord Genuity Group reduced their price target on Spectrum Brands from $100.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, June 17th. Wall Street Zen cut Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Finally, Wells Fargo & Company boosted their price objective on Spectrum Brands from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Wednesday.

Insiders Place Their Bets

In other Spectrum Brands news, CEO David M. Maura bought 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $72.85 per share, with a total value of $182,125.00. Following the completion of the acquisition, the chief executive officer owned 790,708 shares in the company, valued at $57,603,077.80. This trade represents a 0.32% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Spectrum Brands

Several large investors have recently modified their holdings of SPB. Northwestern Mutual Wealth Management Co. boosted its stake in Spectrum Brands by 7,237.5% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock worth $31,000 after buying an additional 579 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Spectrum Brands by 96.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock worth $37,000 after acquiring an additional 310 shares during the last quarter. Farther Finance Advisors LLC boosted its stake 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 during the period. Headlands Technologies LLC purchased a new position in shares of Spectrum Brands during the 2nd quarter worth about $41,000. Finally, Quarry LP bought a new position in Spectrum Brands during the 3rd quarter valued at about $51,000.

Spectrum Brands Stock Down 1.1%

Shares of SPB stock traded down $0.89 during mid-day trading on Friday, hitting $83.19. The company’s stock had a trading volume of 276,360 shares, compared to its average volume of 369,156. Spectrum Brands has a 52-week low of $49.99 and a 52-week high of $88.14. The business has a 50-day moving average price of $81.52 and a 200 day moving average price of $75.40. 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 stock has a market cap of $1.91 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 2.62 and a beta of 0.64.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Thursday, May 7th. The company reported $1.25 earnings per share 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 firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share. Research analysts predict that Spectrum Brands will post 5.32 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

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

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.