Spectrum Brands (NYSE:SPB) Hits New 52-Week High – What’s Next?

Spectrum Brands Holdings Inc. (NYSE:SPB) hit a new 52-week high on Thursday . The company traded as high as $80.53 and last traded at $80.7330, with a volume of 120218 shares. The stock had previously closed at $79.16.

Analyst Ratings Changes

A number of equities analysts have weighed in on SPB shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Spectrum Brands in a research note on Friday, March 27th. Wells Fargo & Company boosted their target price on shares of Spectrum Brands from $62.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, February 6th. Oppenheimer boosted their target price on shares of Spectrum Brands from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Finally, Royal Bank Of Canada set a $85.00 target price on shares of Spectrum Brands in a research note on Friday, February 6th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Spectrum Brands Stock Performance

The company has a debt-to-equity ratio of 0.29, a current ratio of 2.21 and a quick ratio of 1.38. The firm has a market capitalization of $1.96 billion, a P/E ratio of 19.56, a P/E/G ratio of 2.73 and a beta of 0.63. The stock’s 50 day moving average is $76.40 and its two-hundred day moving average is $64.79.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, February 5th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.63. The business had revenue of $677.00 million during the quarter, compared to the consensus estimate of $667.59 million. Spectrum Brands had a net margin of 3.76% and a return on equity of 7.65%. Spectrum Brands’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.02 earnings per share. As a group, equities analysts anticipate that Spectrum Brands Holdings Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were issued a dividend of $0.47 per share. The ex-dividend date was Tuesday, February 17th. This represents a $1.88 dividend on an annualized basis and a yield of 2.2%. Spectrum Brands’s payout ratio is currently 43.42%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its holdings in Spectrum Brands by 7,237.5% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock valued at $31,000 after purchasing an additional 579 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Spectrum Brands by 96.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock valued at $37,000 after purchasing an additional 310 shares during the period. Farther Finance Advisors LLC grew its holdings 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 acquired a new position in Spectrum Brands during the second quarter valued at approximately $41,000. Finally, SJS Investment Consulting Inc. acquired a new position in Spectrum Brands during the third quarter valued at approximately $47,000.

Spectrum Brands Company Profile

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.