Spectrum Brands Holdings, Inc. (NYSE:SPB) Receives Average Rating of “Hold” from Analysts

Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) have been given a consensus recommendation of “Hold” by the five research firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $89.17.

Several research analysts have commented on the stock. Monness Crespi & Hardt raised their price target on shares of Spectrum Brands from $87.00 to $98.00 and gave the company a “buy” rating in a report on Friday, February 9th. Royal Bank of Canada boosted their target price on Spectrum Brands from $89.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Wells Fargo & Company raised their price target on Spectrum Brands from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Canaccord Genuity Group reiterated a “hold” rating and set a $86.00 price target (up previously from $83.00) on shares of Spectrum Brands in a research report on Friday, February 9th. Finally, Canaccord Genuity Group cut shares of Spectrum Brands from a “buy” rating to a “hold” rating and upped their price objective for the stock from $83.00 to $86.00 in a research report on Friday, February 9th.

Spectrum Brands Price Performance

Shares of NYSE SPB opened at $83.69 on Friday. The company has a quick ratio of 2.75, a current ratio of 3.36 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $2.53 billion, a PE ratio of 1.82, a PEG ratio of 0.57 and a beta of 1.20. The stock’s 50 day moving average price is $82.99 and its 200-day moving average price is $79.28. Spectrum Brands has a twelve month low of $65.27 and a twelve month high of $89.64.

Spectrum Brands (NYSE:SPB) last released its earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.47. The firm had revenue of $692.20 million for the quarter, compared to analysts’ expectations of $674.20 million. Spectrum Brands had a net margin of 63.89% and a return on equity of 4.66%. The company’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.32) earnings per share. On average, equities analysts anticipate that Spectrum Brands will post 3.79 EPS for the current year.

Spectrum Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 20th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Friday, February 16th. Spectrum Brands’s dividend payout ratio is currently 3.65%.

Institutional Investors Weigh In On Spectrum Brands

A number of hedge funds have recently made changes to their positions in SPB. Larson Financial Group LLC raised its position in Spectrum Brands by 72.6% in the 4th quarter. Larson Financial Group LLC now owns 359 shares of the company’s stock worth $29,000 after purchasing an additional 151 shares during the period. Arizona State Retirement System increased its holdings in shares of Spectrum Brands by 1.4% in the third quarter. Arizona State Retirement System now owns 11,675 shares of the company’s stock worth $915,000 after buying an additional 158 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of Spectrum Brands by 53.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the company’s stock valued at $36,000 after acquiring an additional 160 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Spectrum Brands by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,156 shares of the company’s stock valued at $247,000 after acquiring an additional 166 shares during the period. Finally, GSA Capital Partners LLP grew its position in Spectrum Brands by 0.8% during the 3rd quarter. GSA Capital Partners LLP now owns 27,453 shares of the company’s stock worth $2,151,000 after acquiring an additional 226 shares during the last quarter.

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.