Spectrum Brands (NYSE:SPB) Price Target Raised to $105.00

Spectrum Brands (NYSE:SPB) had its price target lifted by Monness Crespi & Hardt from $86.00 to $105.00 in a report published on Monday, Marketbeat.com reports. Monness Crespi & Hardt currently has a buy rating on the stock.

SPB has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $81.00 price objective on shares of Spectrum Brands in a research note on Friday, May 8th. Wells Fargo & Company upped their target price on shares of Spectrum Brands from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Spectrum Brands in a report on Tuesday, July 21st. Royal Bank Of Canada downgraded shares of Spectrum Brands from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $85.00 to $92.00 in a research note on Monday. Finally, Canaccord Genuity Group increased their price objective on shares of Spectrum Brands from $99.00 to $110.00 and gave the company a “buy” rating in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $98.83.

Spectrum Brands Stock Performance

NYSE:SPB opened at $88.23 on Monday. Spectrum Brands has a 52 week low of $49.99 and a 52 week high of $99.06. The company has a fifty day simple moving average of $85.99 and a two-hundred day simple moving average of $79.84. The company has a quick ratio of 1.42, a current ratio of 2.29 and a debt-to-equity ratio of 0.30. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 2.77 and a beta of 0.63.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data on Friday, August 7th. The company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $1.33. Spectrum Brands had a return on equity of 9.99% and a net margin of 2.76%.The business had revenue of $753.30 million for the quarter, compared to analysts’ expectations of $732.19 million. During the same period last year, the firm earned $1.24 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, equities analysts anticipate that Spectrum Brands will post 6.38 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, August 25th will be paid a $0.47 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $1.88 dividend on an annualized basis and a yield of 2.1%. Spectrum Brands’s payout ratio is currently 57.32%.

Insider Buying and Selling at Spectrum Brands

In other news, CEO David M. Maura acquired 2,500 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of $72.85 per share, with a total value of $182,125.00. Following the completion of the acquisition, the chief executive officer owned 790,708 shares of the company’s stock, valued at $57,603,077.80. The trade was a 0.32% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.50% of the company’s stock.

Institutional Trading of Spectrum Brands

Several institutional investors and hedge funds have recently bought and sold shares of SPB. Commerce Bank acquired a new stake in Spectrum Brands during the 2nd quarter worth $276,000. Landscape Capital Management L.L.C. acquired a new position in Spectrum Brands in the second quarter valued at $269,000. Ieq Capital LLC acquired a new position in Spectrum Brands in the second quarter valued at $2,921,000. Allworth Financial LP purchased a new stake in shares of Spectrum Brands in the second quarter valued at about $29,000. Finally, Great Lakes Advisors LLC purchased a new stake in shares of Spectrum Brands in the second quarter valued at about $5,937,000.

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.