Spectrum Brands (NYSE:SPB)‘s stock had its “buy” rating reaffirmed by equities research analysts at Rowe in a research report issued on Wednesday. They currently have a $167.00 price objective on the stock. Rowe’s price objective points to a potential upside of 39.33% from the company’s previous close.
The analysts wrote, “In a move we have encouraged since 2013, management announced strategic options for Global Batteries & Appliances (GB&A). The move will make SPB a faster organic grower and a higher-margin company. A potential deal—sometime in 2018—should provide significant financial flexibility to allow management to create meaningful shareholder value. It should also remove the AMZN battery overhang. We believe the deal could gross SPB $2.9-3.2B. SPB may be able to use HRG’s NOL to offset the tax hit, as Batteries has almost no cost basis and Appliances has a lower (but higher) one. Maintain Outperform.””
Several other research firms have also recently issued reports on SPB. Wells Fargo & Co reaffirmed a “buy” rating on shares of Spectrum Brands in a report on Wednesday, December 20th. Oppenheimer reaffirmed a “buy” rating and issued a $167.00 price target on shares of Spectrum Brands in a report on Monday, November 20th. BMO Capital Markets set a $132.00 price target on shares of Spectrum Brands and gave the company a “buy” rating in a report on Friday, November 17th. Zacks Investment Research raised shares of Spectrum Brands from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, KeyCorp set a $130.00 price target on shares of Spectrum Brands and gave the company a “buy” rating in a report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $141.33.
Spectrum Brands (NYSE:SPB) traded up $0.92 on Wednesday, reaching $119.86. 815,200 shares of the company traded hands, compared to its average volume of 946,467. The firm has a market capitalization of $6,854.04, a PE ratio of 23.78, a PEG ratio of 1.77 and a beta of 0.76. The company has a quick ratio of 0.75, a current ratio of 1.44 and a debt-to-equity ratio of 2.06. Spectrum Brands has a 1 year low of $98.11 and a 1 year high of $146.09.
Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, November 16th. The company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.12). The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. Spectrum Brands had a net margin of 5.91% and a return on equity of 17.48%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.31 earnings per share. sell-side analysts predict that Spectrum Brands will post 6.16 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the business. Pacad Investment Ltd. bought a new stake in Spectrum Brands during the second quarter valued at $113,000. Toronto Dominion Bank grew its position in shares of Spectrum Brands by 244.3% during the third quarter. Toronto Dominion Bank now owns 1,119 shares of the company’s stock worth $119,000 after acquiring an additional 794 shares during the last quarter. FNY Partners Fund LP bought a new position in shares of Spectrum Brands during the second quarter worth about $187,000. SG Americas Securities LLC grew its position in shares of Spectrum Brands by 50.6% during the second quarter. SG Americas Securities LLC now owns 1,586 shares of the company’s stock worth $198,000 after acquiring an additional 533 shares during the last quarter. Finally, Stoneridge Investment Partners LLC bought a new position in shares of Spectrum Brands during the third quarter worth about $214,000. Hedge funds and other institutional investors own 48.23% of the company’s stock.
Spectrum Brands Company Profile
Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.
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