Spectrum Brands (NYSE:SPB) Stock Rating Upgraded by Wall Street Zen

Spectrum Brands (NYSE:SPB) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.

A number of other equities research analysts have also commented on the stock. Canaccord Genuity Group reduced their price objective on shares of Spectrum Brands from $77.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Wells Fargo & Company reduced their price objective on shares of Spectrum Brands from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 25th. Royal Bank Of Canada set a $75.00 target price on shares of Spectrum Brands and gave the stock an “outperform” rating in a research note on Monday, August 11th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Spectrum Brands in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.80.

Spectrum Brands Trading Down 0.1%

NYSE:SPB opened at $53.83 on Friday. The firm’s fifty day moving average is $53.94 and its 200-day moving average is $56.31. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.50 and a current ratio of 2.42. Spectrum Brands has a 52 week low of $49.99 and a 52 week high of $96.62. The firm has a market cap of $1.30 billion, a P/E ratio of 20.09 and a beta of 0.82.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Thursday, August 7th. The company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.01). Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. The firm had revenue of $699.60 million during the quarter, compared to the consensus estimate of $742.13 million. During the same period in the prior year, the company posted $1.13 earnings per share. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. Equities analysts expect that Spectrum Brands will post 5.06 earnings per share for the current year.

Hedge Funds Weigh In On Spectrum Brands

A number of hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its stake in Spectrum Brands by 13.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,767 shares of the company’s stock worth $94,000 after purchasing an additional 215 shares in the last quarter. GAMMA Investing LLC boosted its stake in Spectrum Brands by 120.3% in the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock worth $26,000 after purchasing an additional 267 shares in the last quarter. Blue Trust Inc. boosted its stake in Spectrum Brands by 44.8% in the 2nd quarter. Blue Trust Inc. now owns 1,060 shares of the company’s stock worth $56,000 after purchasing an additional 328 shares in the last quarter. MQS Management LLC boosted its stake in Spectrum Brands by 13.6% in the 2nd quarter. MQS Management LLC now owns 5,365 shares of the company’s stock worth $284,000 after purchasing an additional 642 shares in the last quarter. Finally, Humankind Investments LLC boosted its stake in Spectrum Brands by 13.9% in the 1st quarter. Humankind Investments LLC now owns 5,814 shares of the company’s stock worth $416,000 after purchasing an additional 710 shares in the last quarter.

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.