Spectrum Brands (NYSE:SPB) PT Raised to $94.00

Spectrum Brands (NYSE:SPB) had its target price increased by investment analysts at Deutsche Bank Aktiengesellschaft from $91.00 to $94.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 7.04% from the company’s current price.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company increased their price objective on Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday. UBS Group increased their price objective on Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a report on Friday. Oppenheimer increased their price objective on Spectrum Brands from $88.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. Monness Crespi & Hardt raised their price target on Spectrum Brands from $98.00 to $106.00 and gave the company a “buy” rating in a report on Friday, May 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $114.00 price target on shares of Spectrum Brands in a report on Friday, June 7th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.88.

Spectrum Brands Stock Performance

Shares of SPB stock traded down $2.64 on Friday, hitting $87.82. 672,934 shares of the stock were exchanged, compared to its average volume of 428,256. The company has a current ratio of 3.73, a quick ratio of 3.05 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $2.46 billion, a PE ratio of 1.78, a P/E/G ratio of 0.36 and a beta of 1.19. Spectrum Brands has a one year low of $65.27 and a one year high of $96.74. The firm’s 50 day moving average is $86.14 and its two-hundred day moving average is $85.08.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.25). The firm had revenue of $779.40 million for the quarter, compared to the consensus estimate of $750.97 million. Spectrum Brands had a return on equity of 6.43% and a net margin of 68.11%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS. Sell-side analysts expect that Spectrum Brands will post 4.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spectrum Brands

Several institutional investors and hedge funds have recently bought and sold shares of SPB. Savoir Faire Capital Management L.P. bought a new stake in shares of Spectrum Brands in the 2nd quarter worth approximately $1,031,000. Renaissance Technologies LLC bought a new stake in shares of Spectrum Brands in the 2nd quarter worth approximately $3,823,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Spectrum Brands in the 2nd quarter worth approximately $237,000. Federated Hermes Inc. grew its position in shares of Spectrum Brands by 8.9% in the 2nd quarter. Federated Hermes Inc. now owns 10,480 shares of the company’s stock worth $901,000 after buying an additional 860 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Spectrum Brands by 24.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,225 shares of the company’s stock worth $104,000 after buying an additional 240 shares during 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.