Spectrum Brands Holdings, Inc. (SPB) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) from a strong sell rating to a hold rating in a research note released on Tuesday, October 17th.

According to Zacks, “Spectrum Brands, Inc. and its subsidiaries operate as a global branded consumer products company. The Company has three reportable segments: Global Batteries & Personal Care; Global Pet Supplies; and Home and Garden Business. Its operations include the manufacturing and marketing of alkaline, zinc carbon and hearing aid batteries, as well as aquariums and aquatic health supplies and the designing and marketing of rechargeable batteries, battery-powered lighting products, electric shavers and accessories, grooming products and hair care appliances. The Company also provides specialty pet supplies and also herbicides, insecticides and repellents. Its portfolio of brands are Rayovac(R), Remington(R), VARTA(R), Tetra(R), Marineland(R), Nature’s Miracle(R), Dingo(R), 8-in-1(R), Spectracide(R), Cutter(R), Repel(R), and HotShot(R) with manufacturing and product development facilities located in the U.S., Europe, Asia and Latin America. Spectrum Brands, Inc. is headquartered in Atlanta, Georgia. “

Several other analysts have also commented on the company. Canaccord Genuity reaffirmed a buy rating on shares of Spectrum Brands Holdings in a report on Thursday, September 28th. Royal Bank Of Canada set a $155.00 target price on Spectrum Brands Holdings and gave the stock a buy rating in a report on Friday, July 28th. Jefferies Group LLC reiterated a buy rating and set a $143.00 price target on shares of Spectrum Brands Holdings in a research report on Thursday, October 12th. BidaskClub upgraded Spectrum Brands Holdings from a strong sell rating to a sell rating in a research report on Saturday, August 26th. Finally, BMO Capital Markets lowered their price target on Spectrum Brands Holdings from $155.00 to $140.00 and set an outperform rating on the stock in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. Spectrum Brands Holdings has an average rating of Buy and an average target price of $142.29.

Shares of Spectrum Brands Holdings (NYSE SPB) opened at 108.17 on Tuesday. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 22.15 and a beta of 0.65. Spectrum Brands Holdings has a 1-year low of $101.93 and a 1-year high of $146.09. The stock has a 50 day moving average of $105.79 and a 200 day moving average of $120.51.

Spectrum Brands Holdings (NYSE:SPB) last announced its earnings results on Thursday, July 27th. The company reported $1.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.92 by ($0.21). The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.38 billion. Spectrum Brands Holdings had a net margin of 5.87% and a return on equity of 17.46%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.73 earnings per share. Analysts predict that Spectrum Brands Holdings will post $5.57 EPS for the current year.

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Institutional investors have recently made changes to their positions in the stock. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Spectrum Brands Holdings during the second quarter worth approximately $100,000. Daiwa Securities Group Inc. lifted its position in Spectrum Brands Holdings by 33.3% during the second quarter. Daiwa Securities Group Inc. now owns 800 shares of the company’s stock worth $100,000 after buying an additional 200 shares in the last quarter. Pacad Investment Ltd. purchased a new position in Spectrum Brands Holdings during the second quarter worth approximately $113,000. Invictus RG purchased a new position in Spectrum Brands Holdings during the first quarter worth approximately $156,000. Finally, FNY Partners Fund LP purchased a new position in Spectrum Brands Holdings during the second quarter worth approximately $187,000. Hedge funds and other institutional investors own 46.50% of the company’s stock.

Spectrum Brands Holdings Company Profile

Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.

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Analyst Recommendations for Spectrum Brands Holdings (NYSE:SPB)

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