Spectrum Brands (NYSE:SPB) Upgraded to Buy at Gabelli

Gabelli upgraded shares of Spectrum Brands (NYSE:SPB) from a hold rating to a buy rating in a report published on Friday, November 17th, Marketbeat.com reports.

A number of other equities research analysts have also commented on SPB. Wells Fargo & Company restated a buy rating on shares of Spectrum Brands in a research report on Thursday, July 27th. BMO Capital Markets reduced their price objective on Spectrum Brands from $155.00 to $140.00 and set an outperform rating on the stock in a report on Friday, July 28th. Zacks Investment Research downgraded Spectrum Brands from a hold rating to a sell rating in a report on Saturday, July 29th. Royal Bank Of Canada set a $155.00 price objective on Spectrum Brands and gave the stock a buy rating in a report on Friday, July 28th. Finally, Jefferies Group set a $143.00 price target on Spectrum Brands and gave the company a buy rating in a research note on Saturday, July 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $137.25.

Shares of Spectrum Brands (NYSE:SPB) opened at $114.07 on Friday. Spectrum Brands has a 12 month low of $98.11 and a 12 month high of $146.09. The firm has a market capitalization of $6,581.47, a P/E ratio of 20.92, a PEG ratio of 1.82 and a beta of 0.76. The company has a quick ratio of 0.75, a current ratio of 1.44 and a debt-to-equity ratio of 2.06.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Thursday, November 16th. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.12). The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. Spectrum Brands had a net margin of 5.91% and a return on equity of 17.48%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.31 earnings per share. sell-side analysts predict that Spectrum Brands will post 6.16 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Investors of record on Tuesday, November 28th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.47%. The ex-dividend date is Monday, November 27th. Spectrum Brands’s payout ratio is presently 33.33%.

Hedge funds have recently added to or reduced their stakes in the business. Swiss National Bank increased its holdings in Spectrum Brands by 1.6% during the 2nd quarter. Swiss National Bank now owns 96,300 shares of the company’s stock worth $12,041,000 after purchasing an additional 1,500 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Spectrum Brands by 19.9% during the 2nd quarter. Alliancebernstein L.P. now owns 17,160 shares of the company’s stock worth $2,146,000 after purchasing an additional 2,851 shares in the last quarter. First Manhattan Co. grew its holdings in shares of Spectrum Brands by 242.9% in the 3rd quarter. First Manhattan Co. now owns 39,957 shares of the company’s stock valued at $4,232,000 after acquiring an additional 28,305 shares in the last quarter. Eagle Asset Management Inc. grew its holdings in shares of Spectrum Brands by 27.3% in the 2nd quarter. Eagle Asset Management Inc. now owns 54,260 shares of the company’s stock valued at $6,784,000 after acquiring an additional 11,629 shares in the last quarter. Finally, Virginia Retirement Systems ET AL grew its holdings in shares of Spectrum Brands by 14.8% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 52,100 shares of the company’s stock valued at $6,515,000 after acquiring an additional 6,700 shares in the last quarter. Hedge funds and other institutional investors own 48.26% of the company’s stock.

TRADEMARK VIOLATION WARNING: This report was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this report on another domain, it was copied illegally and reposted in violation of international trademark & copyright laws. The correct version of this report can be read at https://www.dispatchtribunal.com/2017/12/05/gabelli-upgrades-spectrum-brands-holdings-inc-spb-to-buy.html.

Spectrum Brands 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.

Analyst Recommendations for Spectrum Brands (NYSE:SPB)

Receive News & Ratings for Spectrum Brands Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spectrum Brands Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply