Spectrum Brands (NYSE:SPB) Upgraded to “Buy” at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Spectrum Brands (NYSE:SPB) from a hold rating to a buy rating in a report published on Friday morning, Marketbeat reports. Canaccord Genuity Group currently has $102.00 price objective on the stock, up from their previous price objective of $94.00.

A number of other research firms also recently commented on SPB. UBS Group decreased their target price on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Wells Fargo & Company cut their price objective on shares of Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.11.

Spectrum Brands Stock Performance

Shares of Spectrum Brands stock opened at $78.19 on Friday. The firm has a market capitalization of $2.14 billion, a P/E ratio of 19.21, a PEG ratio of 1.36 and a beta of 1.20. Spectrum Brands has a 52 week low of $75.94 and a 52 week high of $96.74. The company has a quick ratio of 1.62, a current ratio of 2.30 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average price of $86.57 and a 200 day moving average price of $89.04.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.34%. During the same quarter in the prior year, the company earned $0.78 earnings per share. Sell-side analysts expect that Spectrum Brands will post 5.17 EPS for the current year.

Spectrum Brands Announces Dividend

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

Institutional Trading of Spectrum Brands

Several institutional investors have recently bought and sold shares of SPB. Citigroup Inc. lifted its position in shares of Spectrum Brands by 15.9% during the 3rd quarter. Citigroup Inc. now owns 41,048 shares of the company’s stock valued at $3,905,000 after buying an additional 5,641 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Spectrum Brands in the fourth quarter valued at about $553,000. SG Americas Securities LLC raised its position in shares of Spectrum Brands by 478.4% during the 4th quarter. SG Americas Securities LLC now owns 13,500 shares of the company’s stock worth $1,141,000 after purchasing an additional 11,166 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Spectrum Brands by 9,420.0% in the 3rd quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock valued at $45,000 after buying an additional 471 shares in the last quarter. Finally, Manning & Napier Advisors LLC boosted its holdings in Spectrum Brands by 30.4% in the 4th quarter. Manning & Napier Advisors LLC now owns 150,000 shares of the company’s stock worth $12,674,000 after buying an additional 35,000 shares during the last quarter.

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.