Spectrum Brands (NYSE:SPB) Price Target Raised to $84.00

Spectrum Brands (NYSE:SPB) had its target price increased by Canaccord Genuity Group from $75.00 to $84.00 in a report published on Monday morning, MarketBeat reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other analysts have also recently weighed in on SPB. Weiss Ratings reissued a “hold (c)” rating on shares of Spectrum Brands in a research note on Thursday, November 13th. Royal Bank Of Canada set a $75.00 target price on Spectrum Brands and gave the stock an “outperform” rating in a report on Monday, August 11th. Wall Street Zen cut Spectrum Brands from a “hold” rating to a “sell” rating in a research note on Monday, November 10th. Finally, Wells Fargo & Company lifted their price objective on Spectrum Brands from $55.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, November 14th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Spectrum Brands currently has a consensus rating of “Moderate Buy” and an average target price of $77.00.

Spectrum Brands Stock Performance

Spectrum Brands stock opened at $54.69 on Monday. The business has a 50 day moving average of $53.68 and a 200-day moving average of $55.74. The company has a market capitalization of $1.32 billion, a P/E ratio of 13.81 and a beta of 0.82. Spectrum Brands has a 1 year low of $49.99 and a 1 year high of $96.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.42 and a quick ratio of 1.50.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Thursday, November 13th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $0.77 by $1.84. Spectrum Brands had a net margin of 3.56% and a return on equity of 7.27%. The business had revenue of $733.50 million for the quarter, compared to the consensus estimate of $738.57 million. During the same period last year, the company earned $0.97 EPS. The firm’s revenue was down 5.2% compared to the same quarter last year. On average, equities research analysts predict that Spectrum Brands will post 5.06 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Monday, November 24th will be given a $0.47 dividend. The ex-dividend date of this dividend is Monday, November 24th. This represents a $1.88 annualized dividend and a dividend yield of 3.4%. Spectrum Brands’s dividend payout ratio (DPR) is 47.47%.

Institutional Investors Weigh In On Spectrum Brands

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC increased its holdings in Spectrum Brands by 120.3% in the second quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock worth $26,000 after purchasing an additional 267 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Spectrum Brands by 7,237.5% during the 3rd 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. Headlands Technologies LLC bought a new stake in shares of Spectrum Brands in the 2nd quarter valued at $41,000. SJS Investment Consulting Inc. bought a new stake in shares of Spectrum Brands in the 3rd quarter valued at $47,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Spectrum Brands during the 3rd quarter valued at $49,000.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.