Spectrum Brands (NYSE:SPB) PT Raised to $95.00

Spectrum Brands (NYSE:SPB) had its target price boosted by analysts at Wells Fargo & Company from $85.00 to $95.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential downside of 0.05% from the company’s previous close.

A number of other analysts have also recently weighed in on SPB. Canaccord Genuity Group cut shares of Spectrum Brands from a “buy” rating to a “hold” rating and raised their target price for the stock from $83.00 to $86.00 in a report on Friday, February 9th. Royal Bank of Canada raised their target price on shares of Spectrum Brands from $100.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday. Canaccord Genuity Group restated a “hold” rating and set a $86.00 target price (up from $83.00) on shares of Spectrum Brands in a report on Friday, February 9th. Monness Crespi & Hardt raised their price objective on shares of Spectrum Brands from $98.00 to $106.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Oppenheimer raised their price objective on shares of Spectrum Brands from $88.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $100.33.

Spectrum Brands Price Performance

Shares of NYSE SPB traded up $0.44 during mid-day trading on Friday, reaching $95.05. 163,081 shares of the company traded hands, compared to its average volume of 376,891. Spectrum Brands has a fifty-two week low of $65.27 and a fifty-two week high of $96.74. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.36 and a quick ratio of 2.75. The firm has a market cap of $2.88 billion, a PE ratio of 2.07, a price-to-earnings-growth ratio of 0.59 and a beta of 1.20. The stock has a fifty day simple moving average of $83.58 and a 200-day simple moving average of $79.58.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Thursday, May 9th. The company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $1.13. Spectrum Brands had a net margin of 63.89% and a return on equity of 4.66%. The business had revenue of $718.50 million for the quarter, compared to analyst estimates of $708.54 million. During the same quarter last year, the business earned ($0.14) earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities research analysts anticipate that Spectrum Brands will post 3.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Spectrum Brands

A number of institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Spectrum Brands during the 1st quarter valued at $42,000. Pinnacle Wealth Planning Services Inc. bought a new position in shares of Spectrum Brands during the 1st quarter valued at $209,000. First Eagle Investment Management LLC raised its holdings in shares of Spectrum Brands by 154.7% during the 1st quarter. First Eagle Investment Management LLC now owns 126,100 shares of the company’s stock valued at $11,224,000 after purchasing an additional 76,600 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Spectrum Brands by 5.7% during the 1st quarter. Russell Investments Group Ltd. now owns 54,154 shares of the company’s stock valued at $4,820,000 after purchasing an additional 2,927 shares in the last quarter. Finally, LSV Asset Management raised its holdings in shares of Spectrum Brands by 68.9% during the 1st quarter. LSV Asset Management now owns 745,680 shares of the company’s stock valued at $66,373,000 after purchasing an additional 304,217 shares in 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.