Raymond James reiterated their buy rating on shares of Spectrum Brands (NYSE:SPB) in a research report released on Monday. Raymond James currently has a $15.00 price objective on the stock.
SPB has been the topic of several other research reports. Bank of America reduced their target price on shares of Spectrum Brands from $91.00 to $84.00 and set a hold rating on the stock in a research note on Thursday, October 4th. Wells Fargo & Co reissued a hold rating and issued a $70.00 target price on shares of Spectrum Brands in a research note on Thursday, November 15th. Zacks Investment Research raised shares of Spectrum Brands from a strong sell rating to a hold rating in a research note on Thursday, November 22nd. Monness Crespi & Hardt reduced their target price on shares of Spectrum Brands from $103.00 to $64.00 and set a buy rating on the stock in a research note on Tuesday, November 20th. Finally, Royal Bank of Canada reduced their target price on shares of Spectrum Brands to $75.00 and set an outperform rating on the stock in a research note on Monday, November 26th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $96.58.
SPB stock opened at $47.65 on Monday. Spectrum Brands has a 52 week low of $45.88 and a 52 week high of $119.94. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.49 and a quick ratio of 2.11. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 1.70 and a beta of 1.57.
Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Wednesday, November 21st. The company reported $0.79 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.08 by ($0.29). Spectrum Brands had a net margin of 23.26% and a negative return on equity of 2.43%. The business had revenue of $787.80 million for the quarter, compared to the consensus estimate of $803.72 million. During the same quarter last year, the business earned $1.35 EPS. Spectrum Brands’s revenue for the quarter was up .0% compared to the same quarter last year. Research analysts anticipate that Spectrum Brands will post 3.65 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 18th. Stockholders of record on Tuesday, November 27th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Monday, November 26th. Spectrum Brands’s dividend payout ratio is currently 47.46%.
Institutional investors and hedge funds have recently made changes to their positions in the company. Texas Yale Capital Corp. increased its stake in Spectrum Brands by 5.4% in the 2nd quarter. Texas Yale Capital Corp. now owns 13,969 shares of the company’s stock worth $1,140,000 after buying an additional 715 shares during the period. PNC Financial Services Group Inc. increased its stake in Spectrum Brands by 16.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,196 shares of the company’s stock worth $423,000 after buying an additional 725 shares during the period. US Bancorp DE increased its stake in Spectrum Brands by 5.8% in the 3rd quarter. US Bancorp DE now owns 15,337 shares of the company’s stock worth $1,146,000 after buying an additional 842 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Spectrum Brands by 90.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,765 shares of the company’s stock worth $207,000 after buying an additional 1,314 shares during the period. Finally, Captrust Financial Advisors purchased a new position in Spectrum Brands in the 3rd quarter worth about $116,000. 95.56% of the stock is currently owned by institutional investors and hedge funds.
About Spectrum Brands
Spectrum Brands Holdings, Inc, through its subsidiaries, operates as a branded consumer products company that manufactures, markets, and distributes branded consumer products. It supplies consumer batteries, residential locksets, residential builders' hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, personal insect repellents, and auto care products, as well as lawn and garden, and home pest control products.
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