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

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

SPB has been the subject of a number of analyst reports. Canaccord Genuity Group lifted their target price on shares of Spectrum Brands from $99.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday. Weiss Ratings cut shares of Spectrum Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday. Wall Street Zen downgraded Spectrum Brands from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. Monness Crespi & Hardt lifted their price objective on Spectrum Brands from $86.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Oppenheimer boosted their price objective on Spectrum Brands from $85.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday.

Spectrum Brands Stock Performance

NYSE:SPB opened at $88.23 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.42 and a current ratio of 2.29. Spectrum Brands has a fifty-two week low of $49.99 and a fifty-two week high of $99.06. The company has a 50 day simple moving average of $85.99 and a two-hundred day simple moving average of $79.84. The company has a market capitalization of $2.03 billion, a PE ratio of 26.90, a P/E/G ratio of 2.77 and a beta of 0.63.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Friday, August 7th. The company reported $2.79 earnings per share (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 9.99%. The firm had revenue of $753.30 million for the quarter, compared to the consensus estimate of $732.19 million. During the same quarter in the previous year, the company earned $1.24 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Research analysts anticipate that Spectrum Brands will post 6.38 earnings per share for the current year.

Spectrum Brands Dividend Announcement

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

Insiders Place Their Bets

In other Spectrum Brands news, CEO David M. Maura purchased 2,500 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $72.85 per share, with a total value of $182,125.00. Following the completion of the purchase, the chief executive officer owned 790,708 shares in the company, valued at $57,603,077.80. This represents a 0.32% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.50% of the company’s stock.

Institutional Trading of Spectrum Brands

Several hedge funds have recently modified their holdings of the stock. ProShare Advisors LLC raised its holdings in shares of Spectrum Brands by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 4,721 shares of the company’s stock valued at $279,000 after purchasing an additional 140 shares during the period. Federated Hermes Inc. grew its stake in shares of Spectrum Brands by 1.3% in the 4th quarter. Federated Hermes Inc. now owns 12,048 shares of the company’s stock valued at $712,000 after buying an additional 157 shares during the period. Nomura Asset Management Co. Ltd. grew its stake 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 valued at $37,000 after buying an additional 310 shares during the period. Global Retirement Partners LLC bought a new stake in Spectrum Brands in the 2nd quarter valued at about $27,000. Finally, Farther Finance Advisors LLC increased its position in Spectrum Brands by 111.7% in the 4th quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock valued at $38,000 after buying an additional 335 shares in the last quarter.

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.