Spectrum Brands Holdings Inc. (NYSE:SPB) – Investment analysts at Jefferies Group upped their Q4 2016 earnings estimates for Spectrum Brands Holdings in a report released on Wednesday. Jefferies Group analyst K. Grundy now forecasts that the firm will post earnings of $1.43 per share for the quarter, up from their prior forecast of $1.42. Jefferies Group currently has a “Buy” rating and a $160.00 target price on the stock. Jefferies Group also issued estimates for Spectrum Brands Holdings’ FY2017 earnings at $6.28 EPS and FY2018 earnings at $7.28 EPS.
Several other brokerages have also recently weighed in on SPB. Zacks Investment Research raised Spectrum Brands Holdings from a “hold” rating to a “buy” rating and set a $151.00 price target for the company in a research note on Saturday. Piper Jaffray Cos. began coverage on Spectrum Brands Holdings in a research note on Thursday, September 1st. They issued an “overweight” rating and a $147.00 price target for the company. Monness Crespi & Hardt increased their price target on Spectrum Brands Holdings from $125.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $140.00 price target (up previously from $125.00) on shares of Spectrum Brands Holdings in a research note on Sunday, July 24th. Eight equities research analysts have rated the stock with a buy rating, Spectrum Brands Holdings currently has a consensus rating of “Buy” and a consensus target price of $142.50.
Spectrum Brands Holdings (NYSE:SPB) opened at 134.92 on Friday. Spectrum Brands Holdings has a 12 month low of $87.65 and a 12 month high of $138.95. The firm has a market capitalization of $8.01 billion, a PE ratio of 27.41 and a beta of 0.65. The firm’s 50-day moving average is $132.75 and its 200-day moving average is $121.79.
Spectrum Brands Holdings (NYSE:SPB) last announced its quarterly earnings results on Thursday, July 28th. The company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.04. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Spectrum Brands Holdings had a net margin of 5.44% and a return on equity of 17.79%. Spectrum Brands Holdings’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.42 earnings per share.
In related news, SVP Stacey L. Neu sold 800 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $128.04, for a total transaction of $102,432.00. Following the completion of the sale, the senior vice president now owns 3,850 shares of the company’s stock, valued at $492,954. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David M. Maura bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were acquired at an average cost of $127.47 per share, with a total value of $254,940.00. The disclosure for this purchase can be found here. Corporate insiders own 0.95% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in Spectrum Brands Holdings by 2.3% in the second quarter. BNP Paribas Arbitrage SA now owns 7,390 shares of the company’s stock valued at $882,000 after buying an additional 167 shares in the last quarter. Squarepoint Ops LLC boosted its stake in Spectrum Brands Holdings by 155.6% in the first quarter. Squarepoint Ops LLC now owns 6,900 shares of the company’s stock valued at $754,000 after buying an additional 4,200 shares in the last quarter. Royal Bank of Canada boosted its stake in Spectrum Brands Holdings by 272.1% in the first quarter. Royal Bank of Canada now owns 2,173 shares of the company’s stock valued at $238,000 after buying an additional 1,589 shares in the last quarter. Barclays PLC boosted its stake in Spectrum Brands Holdings by 75.2% in the first quarter. Barclays PLC now owns 24,995 shares of the company’s stock valued at $2,724,000 after buying an additional 10,725 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in Spectrum Brands Holdings during the first quarter valued at approximately $339,000. 45.41% of the stock is owned by institutional investors and hedge funds.
Spectrum Brands Holdings Company Profile
Spectrum Brands Holdings, Inc (SBH) is a diversified consumer products company. The Company operates through five segments: Global Batteries & Appliances, Global Pet Supplies, Home and Garden, Hardware & Home Improvement, and Global Auto Care. The Company’s Global Batteries & Appliances segment includes consumer batteries, small appliances and personal care products.
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