Spectrum Brands (NYSE:SPB) Hits New 52-Week Low on Analyst Downgrade

Spectrum Brands Holdings, Inc. (NYSE:SPB) hit a new 52-week low on Thursday after Wells Fargo & Company lowered their price target on the stock from $80.00 to $75.00. Wells Fargo & Company currently has an equal weight rating on the stock. Spectrum Brands traded as low as $67.21 and last traded at $67.46, with a volume of 56921 shares. The stock had previously closed at $71.41.

Other equities research analysts also recently issued research reports about the company. 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 report on Thursday, January 16th. Canaccord Genuity Group raised shares of Spectrum Brands from a “hold” rating to a “buy” rating and raised their target price for the stock from $94.00 to $102.00 in a report on Friday, February 7th. Finally, Royal Bank of Canada lowered their price objective on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $101.57.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Pzena Investment Management LLC grew its holdings in shares of 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 last quarter. State Street Corp grew its stake 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 last quarter. Callodine Capital Management LP lifted its stake in shares of Spectrum Brands by 29.8% in the 4th quarter. Callodine Capital Management LP now owns 527,500 shares of the company’s stock valued at $44,568,000 after acquiring an additional 121,000 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Spectrum Brands by 7.6% during the 3rd quarter. Wellington Management Group LLP now owns 513,025 shares of the company’s stock valued at $48,809,000 after acquiring an additional 36,063 shares in the last quarter. Finally, FIL Ltd grew its position in Spectrum Brands by 8.7% during the 4th quarter. FIL Ltd now owns 461,568 shares of the company’s stock worth $38,998,000 after acquiring an additional 36,798 shares during the last quarter.

Spectrum Brands Stock Down 5.8 %

The firm has a 50-day simple moving average of $76.55 and a 200 day simple moving average of $85.13. The stock has a market capitalization of $1.77 billion, a P/E ratio of 16.53, a P/E/G ratio of 1.70 and a beta of 1.20. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.53.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Thursday, February 6th. The company reported $1.02 earnings per share for the quarter, topping 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 quarter last year, the business posted $0.78 EPS. On average, equities research analysts forecast that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current 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 was Tuesday, February 18th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.79%. 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.