Spectrum Brands (NYSE:SPB) Given New $94.00 Price Target at Canaccord Genuity Group

Spectrum Brands (NYSE:SPB) had its target price increased by Canaccord Genuity Group from $91.00 to $94.00 in a research note released on Monday morning,Benzinga reports. They currently have a hold rating on the stock.

A number of other brokerages have also recently commented on SPB. Wells Fargo & Company lifted their price objective on Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. UBS Group boosted their price target on Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Spectrum Brands has an average rating of “Hold” and an average target price of $102.38.

Spectrum Brands Price Performance

Shares of NYSE:SPB opened at $90.20 on Monday. The firm has a market capitalization of $2.53 billion, a PE ratio of 22.11, a PEG ratio of 0.25 and a beta of 1.23. The company has a current ratio of 2.28, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. Spectrum Brands has a 1-year low of $65.27 and a 1-year high of $96.74. The business’s 50 day moving average is $91.49 and its 200-day moving average is $89.53.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Friday, November 15th. The company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.16). The business had revenue of $773.70 million during the quarter, compared to the consensus estimate of $747.80 million. Spectrum Brands had a net margin of 4.21% and a return on equity of 6.11%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned $1.36 EPS. Sell-side analysts predict that Spectrum Brands will post 6.12 earnings per share for the current year.

Spectrum Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th will be paid a $0.47 dividend. The ex-dividend date is Tuesday, November 26th. This is a positive change from Spectrum Brands’s previous quarterly dividend of $0.42. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.08%. Spectrum Brands’s dividend payout ratio (DPR) is 41.18%.

Institutional Investors Weigh In On Spectrum Brands

A number of hedge funds have recently added to or reduced their stakes in SPB. Waldron Private Wealth LLC acquired a new position in shares of Spectrum Brands during the third quarter worth approximately $27,000. Brooklyn Investment Group bought a new position in Spectrum Brands in the 3rd quarter worth approximately $31,000. Versant Capital Management Inc lifted its holdings in Spectrum Brands by 1,923.8% during the 2nd quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock worth $37,000 after buying an additional 404 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new position in Spectrum Brands in the 1st quarter valued at $42,000. Finally, International Assets Investment Management LLC increased its stake in shares of Spectrum Brands by 9,420.0% in the 3rd quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock valued at $45,000 after buying an additional 471 shares during the period.

Spectrum Brands Company Profile

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.