Spectrum Brands (NYSE:SPB) Price Target Raised to $94.00 at Canaccord Genuity Group

Spectrum Brands (NYSE:SPB) had its price objective hoisted by Canaccord Genuity Group from $91.00 to $94.00 in a report issued on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

SPB has been the topic of a number of other reports. Wells Fargo & Company lifted their price target on shares of Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft boosted their target price on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, UBS Group raised their price target on Spectrum Brands from $111.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 9th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $102.38.

Spectrum Brands Stock Performance

NYSE SPB opened at $88.94 on Monday. The business has a 50-day moving average price of $91.50 and a 200-day moving average price of $89.62. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 0.25 and a beta of 1.23. Spectrum Brands has a twelve month low of $65.27 and a twelve month high of $96.74. The company has a quick ratio of 1.61, a current ratio of 2.30 and a debt-to-equity ratio of 0.26.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data on Friday, November 15th. The company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.16). Spectrum Brands had a net margin of 4.21% and a return on equity of 6.16%. The company had revenue of $773.70 million for the quarter, compared to analysts’ expectations of $747.80 million. During the same period last year, the business earned $1.36 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts predict that Spectrum Brands will post 6.12 EPS for the current fiscal year.

Spectrum Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.11%. This is a positive change from Spectrum Brands’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Tuesday, November 26th. Spectrum Brands’s payout ratio is presently 46.08%.

Hedge Funds Weigh In On Spectrum Brands

A number of large investors have recently made changes to their positions in SPB. Waldron Private Wealth LLC purchased a new stake in Spectrum Brands in the third quarter worth $27,000. Brooklyn Investment Group purchased a new position in shares of Spectrum Brands during the third quarter valued at $31,000. Versant Capital Management Inc raised its holdings in shares of Spectrum Brands by 1,923.8% in the second quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock valued at $37,000 after acquiring an additional 404 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Spectrum Brands in the 1st quarter valued at about $42,000. Finally, International Assets Investment Management LLC lifted its position 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 worth $45,000 after purchasing 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.