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

Spectrum Brands Holdings Inc. (NYSE:SPB) has received an average recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $87.00.

Several brokerages recently issued reports on SPB. Canaccord Genuity Group decreased their target price on Spectrum Brands from $100.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $81.00 price target on shares of Spectrum Brands in a research note on Friday, May 8th. Wells Fargo & Company lifted their price objective on shares of Spectrum Brands from $80.00 to $85.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. Weiss Ratings raised shares of Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Finally, Wall Street Zen lowered shares of Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st.

Spectrum Brands Trading Down 1.1%

Shares of Spectrum Brands stock opened at $88.61 on Friday. Spectrum Brands has a fifty-two week low of $49.99 and a fifty-two week high of $90.60. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.42 and a current ratio of 2.29. The company has a market capitalization of $2.04 billion, a P/E ratio of 16.91, a P/E/G ratio of 2.78 and a beta of 0.64. The company has a fifty day moving average of $82.04 and a 200 day moving average of $76.35.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.21. The business had revenue of $708.90 million for the quarter, compared to analysts’ expectations of $676.45 million. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. On average, sell-side analysts anticipate that Spectrum Brands will post 5.32 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, May 26th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a yield of 2.1%. Spectrum Brands’s dividend payout ratio is presently 35.88%.

Insiders Place Their Bets

In other news, CEO David M. Maura acquired 2,500 shares of Spectrum Brands stock in a transaction on Wednesday, May 20th. The shares were acquired at an average price of $72.85 per share, with a total value of $182,125.00. Following the purchase, the chief executive officer directly owned 790,708 shares in the company, valued at $57,603,077.80. The trade was a 0.32% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Spectrum Brands

Several large investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. grew its stake in shares of Spectrum Brands by 7,237.5% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock worth $31,000 after buying an additional 579 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Spectrum Brands by 96.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock worth $37,000 after acquiring an additional 310 shares during the last quarter. Farther Finance Advisors LLC raised its position in Spectrum Brands by 111.7% during the fourth quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock valued at $38,000 after purchasing an additional 335 shares during the period. Headlands Technologies LLC bought a new stake in shares of Spectrum Brands in the 2nd quarter valued at approximately $41,000. Finally, Quarry LP bought a new position in shares of Spectrum Brands during the 3rd quarter valued at approximately $51,000.

About Spectrum Brands

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.