Spectrum Brands (NYSE:SPB) Research Coverage Started at UBS Group

UBS Group started coverage on shares of Spectrum Brands (NYSE:SPB) in a research report sent to investors on Thursday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $97.00 price target on the stock.

Several other brokerages have also recently weighed in on SPB. Monness Crespi & Hardt boosted their target price on Spectrum Brands from $86.00 to $105.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Wells Fargo & Company lowered their price objective on shares of Spectrum Brands from $90.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, October 5th. Royal Bank Of Canada downgraded Spectrum Brands from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $85.00 to $92.00 in a research report on Monday, August 10th. Oppenheimer upped their price objective on Spectrum Brands from $85.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Finally, Wall Street Zen upgraded shares of Spectrum Brands from a “hold” rating to a “buy” rating in a research note on Saturday, September 5th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Spectrum Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.86.

Spectrum Brands Price Performance

NYSE SPB opened at $79.31 on Thursday. The stock’s fifty day moving average price is $84.63 and its 200 day moving average price is $83.31. 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 company has a market cap of $1.82 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 2.80 and a beta of 0.78. Spectrum Brands has a 1 year low of $51.41 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $1.33. The firm had revenue of $753.30 million during 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 firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.24 earnings per share. As a group, equities research analysts forecast that Spectrum Brands will post 6.39 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, August 25th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, August 25th. This represents a $1.88 annualized dividend and a dividend yield of 2.4%. Spectrum Brands’s payout ratio is 57.32%.

Hedge Funds Weigh In On Spectrum Brands

Several hedge funds have recently added to or reduced their stakes in SPB. Counterpoint Mutual Funds LLC bought a new stake in shares of Spectrum Brands during the 3rd quarter worth $900,000. Assenagon Asset Management S.A. lifted its position in shares of Spectrum Brands by 11.9% in the third quarter. Assenagon Asset Management S.A. now owns 130,948 shares of the company’s stock worth $10,412,000 after purchasing an additional 13,893 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Spectrum Brands during the second quarter worth approximately $1,949,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Spectrum Brands during the second quarter worth approximately $70,000. Finally, Squarepoint Ops LLC grew its position in Spectrum Brands by 2.5% during the second quarter. Squarepoint Ops LLC now owns 12,418 shares of the company’s stock valued at $1,065,000 after purchasing an additional 302 shares in the last quarter.

About Spectrum Brands

Spectrum Brands Holdings, Inc is a global consumer products company headquartered in Middleton, Wisconsin. The company develops, markets and distributes branded products for use in homes, gardens and by pet owners, selling through mass retailers, e-commerce channels, specialty stores and other retail outlets in North America and international markets.

Spectrum Brands’ portfolio has historically included home and personal care products under brands such as Remington, Russell Hobbs, George Foreman and Black+Decker, as well as pet care products marketed under brands including Tetra, FURminator, Nature’s Miracle and 8-in-1.