Spectrum Brands (NYSE:SPB)‘s stock had its “buy” rating reiterated by equities research analysts at CIBC in a research report issued on Thursday. They currently have a $14.50 price target on the stock. CIBC’s price target points to a potential downside of 71.38% from the stock’s previous close.
SPB has been the subject of several other research reports. Wells Fargo & Co decreased their target price on Spectrum Brands from $70.00 to $50.00 and set a “market perform” rating for the company in a research note on Tuesday, November 20th. Zacks Investment Research raised Spectrum Brands from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a report on Tuesday, September 25th. Monness Crespi & Hardt reduced their target price on Spectrum Brands from $103.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, November 20th. Raymond James reaffirmed a “buy” rating and set a $15.00 target price on shares of Spectrum Brands in a report on Monday, December 3rd. Finally, BMO Capital Markets reduced their target price on Spectrum Brands from $100.00 to $85.00 and set an “outperform” rating for the company in a report on Tuesday, November 20th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $78.32.
SPB stock traded down $0.19 during trading hours on Thursday, hitting $50.66. 90,848 shares of the stock traded hands, compared to its average volume of 672,368. Spectrum Brands has a one year low of $40.54 and a one year high of $119.94. The stock has a market capitalization of $2.51 billion, a P/E ratio of 14.31, a P/E/G ratio of 1.61 and a beta of 1.56. The company has a quick ratio of 2.11, a current ratio of 2.49 and a debt-to-equity ratio of 2.93.
Spectrum Brands (NYSE:SPB) last announced its earnings results on Wednesday, November 21st. The company reported $0.79 earnings per share 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 firm had revenue of $787.80 million for the quarter, compared to the consensus estimate of $803.72 million. During the same period in the prior year, the business earned $1.35 EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. On average, sell-side analysts anticipate that Spectrum Brands will post 3.65 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in SPB. Schwab Charles Investment Management Inc. lifted its stake in Spectrum Brands by 12.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 132,648 shares of the company’s stock worth $10,827,000 after acquiring an additional 14,781 shares in the last quarter. PNC Financial Services Group Inc. lifted 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 acquiring an additional 725 shares in the last quarter. FMR LLC lifted its stake in Spectrum Brands by 149.0% in the 2nd quarter. FMR LLC now owns 6,340,757 shares of the company’s stock worth $517,533,000 after acquiring an additional 3,793,831 shares in the last quarter. BlueMountain Capital Management LLC purchased a new stake in Spectrum Brands in the 2nd quarter worth about $1,085,000. Finally, Laurion Capital Management LP purchased a new stake in Spectrum Brands in the 2nd quarter worth about $269,000. 95.61% of the stock is owned by hedge funds and other institutional investors.
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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