Spectrum Brands (NYSE:SPB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, January 23rd.
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. “
A number of other equities research analysts have also recently commented on the stock. KeyCorp set a $140.00 price target on shares of Spectrum Brands and gave the stock a “buy” rating in a report on Tuesday, January 16th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Spectrum Brands in a report on Tuesday, January 16th. UBS Group boosted their target price on shares of Spectrum Brands from $124.00 to $140.00 in a report on Tuesday, January 16th. Jefferies Group reissued a “buy” rating and set a $145.00 target price on shares of Spectrum Brands in a report on Tuesday, January 9th. Finally, Rowe reissued a “buy” rating and set a $167.00 target price on shares of Spectrum Brands in a report on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the stock. Spectrum Brands currently has a consensus rating of “Buy” and a consensus price target of $141.80.
Spectrum Brands (NYSE SPB) traded up $3.08 during mid-day trading on Tuesday, reaching $105.53. The company’s stock had a trading volume of 894,590 shares, compared to its average volume of 786,796. Spectrum Brands has a fifty-two week low of $98.11 and a fifty-two week high of $146.09. The firm has a market cap of $5,904.37, a P/E ratio of 15.73, a P/E/G ratio of 2.19 and a beta of 0.69. The company has a debt-to-equity ratio of 2.01, a current ratio of 2.70 and a quick ratio of 2.19.
Spectrum Brands (NYSE:SPB) last announced its earnings results on Thursday, February 8th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.12. Spectrum Brands had a return on equity of 14.51% and a net margin of 8.80%. The firm had revenue of $646.50 million for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the business earned $1.21 EPS. The company’s revenue was up 7.3% compared to the same quarter last year. equities research analysts expect that Spectrum Brands will post 4.28 earnings per share for the current year.
Large investors have recently made changes to their positions in the stock. Flinton Capital Management LLC raised its stake in shares of Spectrum Brands by 4.8% during the second quarter. Flinton Capital Management LLC now owns 6,320 shares of the company’s stock valued at $790,000 after acquiring an additional 288 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in Spectrum Brands by 20.3% in the second quarter. Cubist Systematic Strategies LLC now owns 2,766 shares of the company’s stock worth $346,000 after buying an additional 466 shares in the last quarter. Swiss National Bank raised its stake in Spectrum Brands by 0.5% in the fourth quarter. Swiss National Bank now owns 97,200 shares of the company’s stock worth $10,925,000 after buying an additional 500 shares in the last quarter. Texas Yale Capital Corp. raised its stake in Spectrum Brands by 4.4% in the third quarter. Texas Yale Capital Corp. now owns 12,120 shares of the company’s stock worth $1,284,000 after buying an additional 510 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in Spectrum Brands by 1.3% in the third quarter. California Public Employees Retirement System now owns 43,041 shares of the company’s stock worth $4,559,000 after buying an additional 541 shares in the last quarter. Institutional investors own 47.27% of the company’s stock.
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About Spectrum Brands
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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