Spectrum Brands (NYSE:SPB) Given New $105.00 Price Target at Canaccord Genuity Group

Spectrum Brands (NYSE:SPB) had its price target lowered by Canaccord Genuity Group from $110.00 to $105.00 in a research note released on Friday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

SPB has been the subject of a number of other research reports. Oppenheimer boosted their price target on Spectrum Brands from $85.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Wall Street Zen downgraded Spectrum Brands from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. Royal Bank Of Canada lowered Spectrum Brands from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $85.00 to $92.00 in a research note on Monday, August 10th. Deutsche Bank reiterated a “hold” rating and set a $96.00 target price on shares of Spectrum Brands in a report on Monday, August 10th. Finally, Wells Fargo & Company dropped their target price on shares of Spectrum Brands from $90.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, October 5th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $97.14.

Spectrum Brands Trading Down 0.4%

Shares of SPB traded down $0.35 during mid-day trading on Friday, reaching $88.00. The company had a trading volume of 371,485 shares, compared to its average volume of 389,543. Spectrum Brands has a fifty-two week low of $53.21 and a fifty-two week high of $99.06. The firm has a fifty day simple moving average of $83.01 and a 200-day simple moving average of $81.53. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 41.90, a price-to-earnings-growth ratio of 3.16 and a beta of 0.81. The company has a current ratio of 2.41, a quick ratio of 1.61 and a debt-to-equity ratio of 0.33.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Thursday, November 12th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.49. The business had revenue of $713.20 million during the quarter, compared to the consensus estimate of $717.98 million. Spectrum Brands had a return on equity of 8.44% and a net margin of 1.74%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.61 EPS. On average, sell-side analysts anticipate that Spectrum Brands will post 5.62 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, November 24th will be issued a dividend of $0.47 per share. The ex-dividend date is Tuesday, November 24th. This represents a $1.88 annualized dividend and a dividend yield of 2.1%. Spectrum Brands’s payout ratio is presently 57.32%.

Institutional Trading of Spectrum Brands

A number of institutional investors have recently added to or reduced their stakes in SPB. Pzena Investment Management LLC purchased a new position in Spectrum Brands in the second quarter valued at about $207,584,000. BlackRock Inc. acquired a new position in shares of Spectrum Brands during the second quarter worth about $166,197,000. Alberta Investment Management Corp acquired a new position in shares of Spectrum Brands during the second quarter worth about $46,353,000. Manning & Napier Advisors LLC acquired a new position in shares of Spectrum Brands during the second quarter worth about $26,496,000. Finally, Bank of America Corp DE purchased a new stake in shares of Spectrum Brands in the second quarter worth about $24,742,000.

Trending Headlines about Spectrum Brands

These are some of the SPB headlines that stood out recently:

• Positive Sentiment: Fiscal Q4 adjusted EPS of $1.39 beat analyst expectations of about $0.90, with margin gains and cost initiatives helping offset weaker demand. Spectrum Brands’ Q4 Earnings Beat Estimates on Margin Gains
• Neutral Sentiment: Management expects fiscal 2027 net sales to be flat to up low single digits and plans to offset roughly $80 million in inflation headwinds. That points to modest growth, with execution on cost savings important. Spectrum Brands sees fiscal 2027 net sales flat to up low single digits
• Neutral Sentiment: Canaccord Genuity lowered its price target from $110 to $105 but maintained a Buy rating, indicating continued potential upside in the analyst’s view, alongside a more cautious valuation outlook. Canaccord Genuity Group stock recommendations

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc. is a global consumer products company that develops, manufactures and markets products for homes, pets and gardens. Its businesses serve consumers through a portfolio of established brands and retail, e-commerce and other distribution channels. The company’s Home and Personal Care products include small kitchen appliances, personal care devices and home appliances sold under brands such as Remington, Russell Hobbs, George Foreman and Black+Decker, under license. Its Global Pet Care business offers products for aquatic pets, companion animals and pet health, including brands such as Tetra, DreamBone and Nature’s Miracle.