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

Spectrum Brands Holdings Inc. (NYSE:SPB) has been given a consensus recommendation of “Hold” by the seven brokerages that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $98.8333.

SPB has been the topic of several research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $96.00 price objective on shares of Spectrum Brands in a report on Monday, August 10th. Canaccord Genuity Group increased their price target on Spectrum Brands from $99.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Wells Fargo & Company raised their price target on Spectrum Brands from $85.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. Weiss Ratings downgraded Spectrum Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Monness Crespi & Hardt upped their price objective 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.

Hedge Funds Weigh In On Spectrum Brands

Hedge funds and other institutional investors have recently modified their holdings of the business. Pzena Investment Management LLC purchased a new position in Spectrum Brands during the second quarter valued at approximately $207,584,000. Northwestern Mutual Wealth Management Co. boosted its position in Spectrum Brands by 374,119.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company’s stock valued at $129,779,000 after acquiring an additional 2,196,079 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Spectrum Brands by 8,295.6% in the 2nd quarter. California State Teachers Retirement System now owns 2,122,313 shares of the company’s stock valued at $181,988,000 after acquiring an additional 2,097,034 shares during the period. Callodine Capital Management LP increased its holdings in shares of Spectrum Brands by 20.4% in the 4th quarter. Callodine Capital Management LP now owns 2,065,216 shares of the company’s stock valued at $122,013,000 after acquiring an additional 350,261 shares during the period. Finally, BlackRock Inc. purchased a new stake in shares of Spectrum Brands during the 2nd quarter worth $166,197,000.

Spectrum Brands Price Performance

Spectrum Brands stock opened at $88.70 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.61. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 27.04, a price-to-earnings-growth ratio of 2.79 and a beta of 0.65. The firm has a 50-day moving average of $87.60 and a two-hundred day moving average of $81.99. Spectrum Brands has a 1 year low of $49.99 and a 1 year high of $99.06.

Spectrum Brands (NYSE:SPB) last issued its earnings results on Friday, August 7th. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $1.33. Spectrum Brands had a net margin of 2.76% and a return on equity of 10.06%. The business had revenue of $753.30 million for the quarter, compared to analyst estimates of $732.19 million. During the same period last year, the company posted $1.24 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, research analysts forecast that Spectrum Brands will post 6.38 earnings per share for the current year.

Spectrum Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, August 25th will be issued a $0.47 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $1.88 annualized dividend and a dividend yield of 2.1%. Spectrum Brands’s payout ratio is currently 57.32%.

About Spectrum Brands

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.