Spectrum Brands Holdings, Inc. (NYSE:SPB) Receives Average Recommendation of “Moderate Buy” from Analysts

Spectrum Brands Holdings, Inc. (NYSE:SPB) has been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $91.11.

SPB has been the topic of a number of research analyst reports. UBS Group cut their price target on shares of Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Wedbush upgraded shares of Spectrum Brands from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $6.00 to $10.00 in a research note on Friday. Wells Fargo & Company decreased their price target on shares of Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Canaccord Genuity Group upgraded Spectrum Brands from a “hold” rating to a “buy” rating and upped their price objective for the company from $94.00 to $102.00 in a research note on Friday. Finally, Royal Bank of Canada decreased their target price on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday.

Spectrum Brands Price Performance

Spectrum Brands stock opened at $78.19 on Friday. Spectrum Brands has a 52 week low of $75.94 and a 52 week high of $96.74. The company’s 50 day moving average price is $86.57 and its two-hundred day moving average price is $89.04. The stock has a market cap of $2.14 billion, a P/E ratio of 19.21, a P/E/G ratio of 1.36 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 quarterly earnings results on Thursday, February 6th. The company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.34% and a net margin of 4.01%. During the same quarter last year, the company earned $0.78 EPS. On average, equities analysts predict that Spectrum Brands will post 5.17 earnings per share for the current year.

Spectrum Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Tuesday, February 18th. Spectrum Brands’s payout ratio is currently 46.19%.

Institutional Trading of Spectrum Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its holdings in 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 buying an additional 112,530 shares in the last quarter. Pzena Investment Management LLC boosted its position in shares of Spectrum Brands by 1.7% in the fourth quarter. Pzena Investment Management LLC now owns 1,333,345 shares of the company’s stock valued at $112,654,000 after acquiring an additional 22,484 shares during the period. State Street Corp grew its stake in Spectrum Brands by 1.3% during the third quarter. State Street Corp now owns 590,222 shares of the company’s stock valued at $56,154,000 after acquiring an additional 7,783 shares in the last quarter. Wellington Management Group LLP lifted its stake 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 purchasing an additional 36,063 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Spectrum Brands by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company’s stock valued at $38,089,000 after purchasing an additional 7,198 shares during the period.

About Spectrum Brands

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.