Spectrum Brands (NYSE:SPB) Stock Rating Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Spectrum Brands (NYSE:SPB) from a buy rating to a hold rating in a report issued on Saturday,Wall Street Zen reports.

A number of other equities analysts have also issued reports on SPB. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $96.00 target price on shares of Spectrum Brands in a research report on Monday, August 10th. UBS Group began coverage on shares of Spectrum Brands in a research report on Thursday, October 15th. They set a “buy” rating and a $97.00 price target on the stock. Monness Crespi & Hardt upped their price target on shares of Spectrum Brands from $86.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Weiss Ratings cut shares of Spectrum Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Royal Bank Of Canada lowered shares of Spectrum Brands from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $85.00 to $92.00 in a research note on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $97.86.

Spectrum Brands Price Performance

Shares of SPB opened at $86.46 on Friday. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 3.10 and a beta of 0.81. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.61 and a current ratio of 2.41. Spectrum Brands has a one year low of $51.41 and a one year high of $99.06. The stock’s fifty day moving average is $82.93 and its 200-day moving average is $80.94.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Friday, August 7th. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $1.33. The business had revenue of $753.30 million for the quarter, compared to analysts’ expectations of $732.19 million. Spectrum Brands had a net margin of 2.76% and a return on equity of 10.06%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.24 earnings per share. Equities analysts anticipate that Spectrum Brands will post 6.26 EPS for the current year.

Institutional Trading of Spectrum Brands

Several institutional investors have recently modified their holdings of SPB. Pzena Investment Management LLC acquired a new stake in Spectrum Brands during the 2nd quarter worth about $207,584,000. BlackRock Inc. purchased a new stake in Spectrum Brands during the second quarter valued at about $166,197,000. Alberta Investment Management Corp acquired a new position in shares of Spectrum Brands in the second quarter worth about $46,353,000. Manning & Napier Advisors LLC acquired a new position in shares of Spectrum Brands in the second quarter worth about $26,496,000. Finally, Bank of America Corp DE acquired a new position in shares of Spectrum Brands in the second quarter worth about $24,742,000.

About Spectrum Brands

Spectrum Brands Holdings, Inc (NYSE:SPB) is a consumer products company that develops, markets and distributes branded products for households and pets. The company sells its products through retailers, e-commerce channels and other distribution partners in the United States and international markets.

Spectrum Brands’ Home and Personal Care portfolio includes small household appliances, personal-care products and related accessories sold under brands such as Remington, Russell Hobbs, George Foreman and Farberware.