Analysts Set Spectrum Brands Holdings, Inc. (NYSE:SPB) Price Target at $101.88

Spectrum Brands Holdings, Inc. (NYSE:SPB) has been given a consensus recommendation of “Moderate Buy” by the eight analysts that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $101.88.

SPB has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $114.00 price target on shares of Spectrum Brands in a research report on Friday, June 7th. Canaccord Genuity Group dropped their price objective on Spectrum Brands from $92.00 to $90.00 and set a “hold” rating on the stock in a research note on Monday, July 1st. Deutsche Bank Aktiengesellschaft boosted 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. Wells Fargo & Company boosted their price objective on Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Finally, UBS Group boosted their price objective on Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 9th.

Institutional Investors Weigh In On Spectrum Brands

A number of institutional investors and hedge funds have recently modified their holdings of SPB. LSV Asset Management grew its holdings in shares of Spectrum Brands by 68.9% during the first quarter. LSV Asset Management now owns 745,680 shares of the company’s stock valued at $66,373,000 after buying an additional 304,217 shares in the last quarter. Norges Bank purchased a new position in shares of Spectrum Brands during the fourth quarter valued at $20,652,000. Armistice Capital LLC grew its stake in Spectrum Brands by 129.4% in the second quarter. Armistice Capital LLC now owns 439,377 shares of the company’s stock valued at $37,756,000 after purchasing an additional 247,809 shares in the last quarter. Pzena Investment Management LLC grew its stake in Spectrum Brands by 21.7% in the first quarter. Pzena Investment Management LLC now owns 1,315,483 shares of the company’s stock valued at $117,091,000 after purchasing an additional 234,784 shares in the last quarter. Finally, Confluence Investment Management LLC purchased a new position in Spectrum Brands in the first quarter valued at about $12,814,000.

Spectrum Brands Price Performance

SPB stock opened at $93.79 on Tuesday. The company has a market capitalization of $2.63 billion, a PE ratio of 1.90, a P/E/G ratio of 0.33 and a beta of 1.22. The stock’s 50 day moving average is $89.64 and its two-hundred day moving average is $87.54. The company has a quick ratio of 1.61, a current ratio of 2.28 and a debt-to-equity ratio of 0.26. Spectrum Brands has a 52-week low of $65.27 and a 52-week high of $96.74.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.25). Spectrum Brands had a net margin of 3.86% and a return on equity of 6.84%. The company had revenue of $779.40 million for the quarter, compared to analyst estimates of $750.97 million. During the same quarter in the prior year, the firm earned $0.75 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. Analysts predict that Spectrum Brands will post 4.78 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Tuesday, August 27th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Tuesday, August 27th. Spectrum Brands’s dividend payout ratio (DPR) is presently 3.40%.

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.