Spectrum Brands (NYSE:SPB) PT Raised to $100.00

Spectrum Brands (NYSE:SPBFree Report) had its price objective raised by Royal Bank of Canada from $89.00 to $100.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently weighed in on SPB. Canaccord Genuity Group reissued a hold rating and set a $86.00 price objective (up from $83.00) on shares of Spectrum Brands in a report on Friday. Canaccord Genuity Group cut Spectrum Brands from a buy rating to a hold rating and lifted their price objective for the stock from $83.00 to $86.00 in a research note on Friday. Monness Crespi & Hardt increased their target price on Spectrum Brands from $87.00 to $98.00 and gave the company a buy rating in a research note on Friday. Wells Fargo & Company boosted their target price on Spectrum Brands from $75.00 to $85.00 and gave the stock an equal weight rating in a research report on Friday. Finally, StockNews.com upgraded shares of Spectrum Brands from a sell rating to a hold rating in a research report on Saturday, December 30th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Spectrum Brands has a consensus rating of Hold and a consensus price target of $88.86.

View Our Latest Analysis on SPB

Spectrum Brands Trading Up 2.2 %

Shares of SPB opened at $87.78 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.75 and a current ratio of 3.36. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 1.90, a PEG ratio of 0.75 and a beta of 1.19. The stock has a fifty day moving average price of $78.95 and a two-hundred day moving average price of $77.54. Spectrum Brands has a 52-week low of $56.69 and a 52-week high of $88.11.

Spectrum Brands (NYSE:SPBGet Free Report) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.47. The business had revenue of $692.20 million for the quarter, compared to the consensus estimate of $674.20 million. Spectrum Brands had a net margin of 63.89% and a return on equity of 4.66%. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.32) EPS. Analysts predict that Spectrum Brands will post 3.81 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 20th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Friday, February 16th. Spectrum Brands’s dividend payout ratio (DPR) is presently 3.65%.

Insider Buying and Selling

In related news, CEO David M. Maura purchased 20,000 shares of Spectrum Brands stock in a transaction dated Monday, November 27th. The stock was bought at an average price of $66.41 per share, for a total transaction of $1,328,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 744,391 shares of the company’s stock, valued at $49,435,006.31. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Ehsan Zargar bought 1,053 shares of the stock in a transaction on Monday, November 27th. The stock was purchased at an average price of $66.50 per share, for a total transaction of $70,024.50. Following the acquisition, the executive vice president now owns 145,415 shares in the company, valued at $9,670,097.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO David M. Maura purchased 20,000 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was purchased at an average price of $66.41 per share, for a total transaction of $1,328,200.00. Following the completion of the acquisition, the chief executive officer now owns 744,391 shares of the company’s stock, valued at $49,435,006.31. The disclosure for this purchase can be found here. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Spectrum Brands by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 4,104,370 shares of the company’s stock worth $160,192,000 after acquiring an additional 87,333 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Spectrum Brands by 1.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,207,061 shares of the company’s stock worth $172,923,000 after purchasing an additional 37,810 shares during the last quarter. BlackRock Inc. grew its position in Spectrum Brands by 2.5% in the first quarter. BlackRock Inc. now owns 1,805,193 shares of the company’s stock valued at $119,540,000 after purchasing an additional 43,252 shares in the last quarter. Invesco Ltd. increased its stake in Spectrum Brands by 194.0% in the 1st quarter. Invesco Ltd. now owns 1,514,530 shares of the company’s stock valued at $134,369,000 after buying an additional 999,459 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Spectrum Brands by 14.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,379,182 shares of the company’s stock worth $107,646,000 after buying an additional 172,355 shares in the last quarter.

Spectrum Brands Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Spectrum Brands (NYSE:SPB)

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