Spectrum Brands Holdings, Inc. (NYSE:SPB) Receives Consensus Rating of “Moderate Buy” from Brokerages

Spectrum Brands Holdings, Inc. (NYSE:SPB) has earned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $103.43.

SPB has been the topic of a number of research reports. Canaccord Genuity Group raised shares of Spectrum Brands from a “hold” rating to a “buy” rating and boosted their target price for the stock from $94.00 to $102.00 in a research note on Friday, February 7th. Wells Fargo & Company reduced their price objective on Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. UBS Group dropped their target price on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, Royal Bank of Canada reduced their price target on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, February 7th.

Hedge Funds Weigh In On Spectrum Brands

Hedge funds have recently made changes to their positions in the stock. Pzena Investment Management LLC increased its position in Spectrum Brands by 1.7% during the 4th quarter. Pzena Investment Management LLC now owns 1,333,345 shares of the company’s stock valued at $112,654,000 after purchasing an additional 22,484 shares during the period. State Street Corp increased its position in shares of Spectrum Brands by 1.3% during the third quarter. State Street Corp now owns 590,222 shares of the company’s stock worth $56,154,000 after buying an additional 7,783 shares during the period. Callodine Capital Management LP raised its stake in Spectrum Brands by 29.8% during the fourth quarter. Callodine Capital Management LP now owns 527,500 shares of the company’s stock worth $44,568,000 after buying an additional 121,000 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Spectrum Brands by 7.6% in the third quarter. Wellington Management Group LLP now owns 513,025 shares of the company’s stock valued at $48,809,000 after buying an additional 36,063 shares during the period. Finally, FIL Ltd boosted its position in Spectrum Brands by 8.7% during the fourth quarter. FIL Ltd now owns 461,568 shares of the company’s stock valued at $38,998,000 after acquiring an additional 36,798 shares during the last quarter.

Spectrum Brands Price Performance

Shares of SPB stock opened at $71.52 on Friday. The business has a fifty day simple moving average of $77.70 and a 200 day simple moving average of $85.70. The company has a market cap of $1.88 billion, a P/E ratio of 17.57, a P/E/G ratio of 1.70 and a beta of 1.20. The company has a quick ratio of 1.53, a current ratio of 2.40 and a debt-to-equity ratio of 0.27. Spectrum Brands has a twelve month low of $68.74 and a twelve month high of $96.74.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. During the same period in the prior year, the company posted $0.78 EPS. On average, sell-side analysts forecast that Spectrum Brands will post 5.06 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were given a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.63%. Spectrum Brands’s dividend payout ratio (DPR) is presently 46.19%.

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.