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

Spectrum Brands Holdings Inc. (NYSE:SPB) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three 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 analysts that have updated their coverage on the stock in the last year is $86.20.

Several research firms have commented on SPB. Wells Fargo & Company boosted their target price on Spectrum Brands from $62.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, February 6th. Weiss Ratings upgraded Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $81.00 target price on shares of Spectrum Brands in a research note on Friday, May 8th. Oppenheimer boosted their target price on Spectrum Brands from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Finally, Canaccord Genuity Group boosted their target price on Spectrum Brands from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 8th.

Spectrum Brands Trading Up 1.2%

NYSE SPB opened at $78.53 on Friday. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 2.44 and a beta of 0.67. The stock’s 50 day moving average price is $78.32 and its two-hundred day moving average price is $70.00. 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 52 week low of $49.99 and a 52 week high of $86.96.

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 for the quarter, compared to analysts’ expectations of $676.45 million. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 EPS. As a group, analysts anticipate that Spectrum Brands will post 5.32 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Tuesday, May 26th will be paid a dividend of $0.47 per share. The ex-dividend date is Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.4%. Spectrum Brands’s dividend payout ratio is currently 35.88%.

Insider Activity

In related news, CEO David M. Maura acquired 2,500 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were bought at an average price of $72.85 per share, for a total transaction of $182,125.00. Following the purchase, the chief executive officer directly owned 790,708 shares in the company, valued at approximately $57,603,077.80. This trade represents a 0.32% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Spectrum Brands

A number of institutional investors and hedge funds have recently made changes to their positions in SPB. ProShare Advisors LLC increased its stake in shares of Spectrum Brands by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 4,721 shares of the company’s stock valued at $279,000 after buying an additional 140 shares during the period. Federated Hermes Inc. increased its stake in shares of Spectrum Brands by 1.3% in the fourth 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. increased its stake in shares of Spectrum Brands by 96.9% in the fourth 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. Farther Finance Advisors LLC increased its stake in shares of Spectrum Brands by 111.7% in the fourth quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock valued at $38,000 after buying an additional 335 shares during the period. Finally, CWM LLC increased its stake in shares of Spectrum Brands by 58.2% in the fourth quarter. CWM LLC now owns 1,237 shares of the company’s stock valued at $73,000 after buying an additional 455 shares during the period.

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.