Monness Crespi & Hardt Issues Pessimistic Forecast for Spectrum Brands (NYSE:SPB) Stock Price

Spectrum Brands (NYSE:SPB) had its price target reduced by Monness Crespi & Hardt from $106.00 to $86.00 in a report issued on Wednesday,Briefing.com Automated Import reports. The firm currently has a “buy” rating on the stock. Monness Crespi & Hardt’s price target would indicate a potential upside of 27.84% from the stock’s current price.

Several other research firms have also recently commented on SPB. UBS Group raised their target price on shares of Spectrum Brands from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Canaccord Genuity Group upgraded Spectrum Brands from a “hold” rating to a “buy” rating and upped their target price for the stock from $94.00 to $102.00 in a research report on Friday, February 7th. Wells Fargo & Company lowered their price target on Spectrum Brands from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. 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 note on Friday, February 7th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $89.17.

Spectrum Brands Stock Performance

Shares of SPB stock opened at $67.27 on Wednesday. Spectrum Brands has a 12-month low of $56.50 and a 12-month high of $96.62. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.53. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The business has a 50 day simple moving average of $65.73 and a 200 day simple moving average of $78.84.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.67). Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. The business had revenue of $675.70 million during the quarter, compared to the consensus estimate of $701.00 million. During the same period in the previous year, the company posted $1.62 EPS. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, equities research analysts anticipate that Spectrum Brands will post 5.06 EPS for the current year.

Hedge Funds Weigh In On Spectrum Brands

A number of hedge funds have recently modified their holdings of SPB. Steward Partners Investment Advisory LLC purchased a new stake in shares of Spectrum Brands during the fourth quarter valued at $50,000. Versant Capital Management Inc raised its holdings in Spectrum Brands by 101.7% during the 1st quarter. Versant Capital Management Inc now owns 970 shares of the company’s stock worth $69,000 after buying an additional 489 shares during the period. Blue Trust Inc. lifted its stake in Spectrum Brands by 46.5% during the fourth quarter. Blue Trust Inc. now owns 1,182 shares of the company’s stock valued at $100,000 after buying an additional 375 shares in the last quarter. KBC Group NV boosted its holdings in shares of Spectrum Brands by 46.3% in the fourth quarter. KBC Group NV now owns 1,233 shares of the company’s stock worth $104,000 after buying an additional 390 shares during the period. Finally, New York State Teachers Retirement System acquired a new position in shares of Spectrum Brands in the first quarter worth about $118,000.

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.