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

Spectrum Brands (NYSE:SPB) had its target price decreased by Wells Fargo & Company from $92.00 to $88.00 in a research note published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Separately, Canaccord Genuity Group boosted their price objective on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.13.

Spectrum Brands Trading Up 0.1 %

SPB opened at $84.16 on Tuesday. The stock has a 50-day moving average of $89.76 and a 200 day moving average of $89.19. The company has a current ratio of 2.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.26. Spectrum Brands has a 12 month low of $75.50 and a 12 month high of $96.74. The firm has a market cap of $2.36 billion, a P/E ratio of 20.63, a P/E/G ratio of 1.58 and a beta of 1.20.

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

Spectrum Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th were issued a $0.47 dividend. This is a positive change from Spectrum Brands’s previous quarterly dividend of $0.42. The ex-dividend date was Tuesday, November 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.23%. Spectrum Brands’s payout ratio is presently 46.08%.

Institutional Trading of Spectrum Brands

Hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of Spectrum Brands by 5.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,120,102 shares of the company’s stock valued at $201,707,000 after purchasing an additional 112,530 shares during the last quarter. Pzena Investment Management LLC increased its holdings in Spectrum Brands by 10.4% in the 3rd quarter. Pzena Investment Management LLC now owns 1,310,861 shares of the company’s stock worth $124,715,000 after buying an additional 123,733 shares during the period. State Street Corp increased its holdings in Spectrum Brands by 1.3% in the 3rd quarter. State Street Corp now owns 590,222 shares of the company’s stock worth $56,154,000 after buying an additional 7,783 shares during the period. Wellington Management Group LLP increased its holdings in Spectrum Brands by 7.6% in the 3rd quarter. Wellington Management Group LLP now owns 513,025 shares of the company’s stock worth $48,809,000 after buying an additional 36,063 shares during the period. Finally, Armistice Capital LLC increased its holdings in Spectrum Brands by 129.4% in the 2nd quarter. Armistice Capital LLC now owns 439,377 shares of the company’s stock worth $37,756,000 after buying an additional 247,809 shares during the period.

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.