Wells Fargo & Company Issues Pessimistic Forecast for Spectrum Brands (NYSE:SPB) Stock Price

Spectrum Brands (NYSE:SPB) had its price objective cut by equities researchers at Wells Fargo & Company from $92.00 to $88.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 4.33% from the company’s current price.

Separately, Canaccord Genuity Group increased their target price on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a report on Monday, November 18th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Spectrum Brands presently has a consensus rating of “Moderate Buy” and an average price target of $102.13.

Spectrum Brands Stock Up 0.4 %

SPB traded up $0.31 during midday trading on Tuesday, hitting $84.35. The company had a trading volume of 42,097 shares, compared to its average volume of 246,154. The stock’s 50 day moving average price is $89.76 and its 200 day moving average price is $89.19. Spectrum Brands has a 52 week low of $75.50 and a 52 week high of $96.74. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 1.58 and a beta of 1.20. The company has a quick ratio of 1.62, a current ratio of 2.30 and a debt-to-equity ratio of 0.26.

Spectrum Brands (NYSE:SPB) last issued its earnings results on Friday, November 15th. The company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.16). The firm had revenue of $773.70 million during the quarter, compared to the consensus estimate of $747.80 million. Spectrum Brands had a net margin of 4.21% and a return on equity of 6.16%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.36 earnings per share. On average, research analysts anticipate that Spectrum Brands will post 5.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spectrum Brands

Hedge funds and other institutional investors have recently modified their holdings of the business. Los Angeles Capital Management LLC bought a new stake in Spectrum Brands during the second quarter worth $630,000. Acadian Asset Management LLC bought a new stake in shares of Spectrum Brands during the 2nd quarter worth $3,119,000. Oak Thistle LLC purchased a new position in shares of Spectrum Brands in the 2nd quarter worth about $255,000. Choreo LLC bought a new position in Spectrum Brands during the second quarter valued at about $252,000. Finally, Headlands Technologies LLC purchased a new stake in Spectrum Brands during the second quarter worth about $50,000.

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.