Deutsche Bank Aktiengesellschaft Lowers South Pacific Resources (NYSE:SPB) Price Target to $63.00

South Pacific Resources (NYSE:SPBGet Rating) had its price objective trimmed by Deutsche Bank Aktiengesellschaft from $68.00 to $63.00 in a report released on Monday, The Fly reports.

SPB has been the topic of several other reports. TheStreet cut South Pacific Resources from a c- rating to a d+ rating in a report on Monday, October 10th. Monness Crespi & Hardt lowered their price target on South Pacific Resources from $100.00 to $70.00 and set a buy rating on the stock in a report on Friday, September 16th. StockNews.com assumed coverage on South Pacific Resources in a report on Wednesday, October 12th. They set a sell rating on the stock. UBS Group reduced their price objective on South Pacific Resources from $109.00 to $100.00 and set a buy rating for the company in a research note on Monday, August 15th. Finally, Royal Bank of Canada reduced their price objective on South Pacific Resources from $120.00 to $109.00 and set an outperform rating for the company in a research note on Monday, August 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $77.17.

South Pacific Resources Price Performance

NYSE SPB opened at $49.86 on Monday. The business’s fifty day moving average price is $44.90 and its 200-day moving average price is $64.90. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 28.49 and a beta of 1.49. The company has a debt-to-equity ratio of 2.48, a current ratio of 2.72 and a quick ratio of 2.02. South Pacific Resources has a 1-year low of $38.93 and a 1-year high of $105.75.

South Pacific Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Shareholders of record on Monday, November 28th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 25th. This represents a $1.68 dividend on an annualized basis and a yield of 3.37%. South Pacific Resources’s payout ratio is presently 96.00%.

Institutional Investors Weigh In On South Pacific Resources

Institutional investors have recently bought and sold shares of the business. Pinebridge Investments L.P. increased its stake in South Pacific Resources by 233.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 333 shares of the company’s stock worth $27,000 after buying an additional 233 shares in the last quarter. CWM LLC grew its position in shares of South Pacific Resources by 844.7% during the third quarter. CWM LLC now owns 803 shares of the company’s stock valued at $31,000 after purchasing an additional 718 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in shares of South Pacific Resources during the third quarter valued at about $33,000. Lazard Asset Management LLC purchased a new position in shares of South Pacific Resources during the third quarter valued at about $40,000. Finally, Captrust Financial Advisors grew its position in shares of South Pacific Resources by 31.7% during the first quarter. Captrust Financial Advisors now owns 503 shares of the company’s stock valued at $45,000 after purchasing an additional 121 shares in the last quarter.

About South Pacific Resources

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Spectrum Brands Holdings, Inc is a consumer products and home essentials company. It engages in the manufacturing and supply of residential locksets, residential builders’ hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn, garden and home pest control products, and personal insect repellents.

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