Spectrum Brands (NYSE:SPB) Price Target Cut to $109.00

Spectrum Brands (NYSE:SPBGet Rating) had its target price cut by UBS Group from $119.00 to $109.00 in a research report issued on Monday, The Fly reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective would indicate a potential upside of 56.14% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company reduced their price objective on shares of Spectrum Brands from $122.00 to $100.00 and set an “overweight” rating for the company in a research note on Monday. Raymond James began coverage on shares of Spectrum Brands in a report on Tuesday, July 12th. They set a “market perform” rating for the company. TheStreet downgraded shares of Spectrum Brands from a “b-” rating to a “c” rating in a research report on Friday, May 6th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Spectrum Brands from $114.00 to $95.00 and set a “buy” rating for the company in a research note on Tuesday, July 12th. Finally, StockNews.com initiated coverage on shares of Spectrum Brands in a research note on Thursday, March 31st. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $108.00.

Spectrum Brands Stock Performance

Spectrum Brands stock opened at $69.81 on Monday. The company has a quick ratio of 2.03, a current ratio of 2.64 and a debt-to-equity ratio of 2.44. Spectrum Brands has a twelve month low of $63.28 and a twelve month high of $107.22. The firm has a fifty day simple moving average of $82.63 and a two-hundred day simple moving average of $87.85. The company has a market capitalization of $2.85 billion, a PE ratio of 28.26 and a beta of 1.44.

Spectrum Brands (NYSE:SPBGet Rating) last announced its quarterly earnings results on Friday, May 6th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.01. The company had revenue of $807.30 million for the quarter, compared to analysts’ expectations of $792.32 million. Spectrum Brands had a net margin of 3.01% and a return on equity of 6.75%. Spectrum Brands’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.76 earnings per share. Research analysts expect that Spectrum Brands will post 3.3 EPS for the current year.

Hedge Funds Weigh In On Spectrum Brands

A number of institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Spectrum Brands in the fourth quarter valued at $242,978,000. Invesco Ltd. increased its holdings in shares of Spectrum Brands by 194.0% during the 1st quarter. Invesco Ltd. now owns 1,514,530 shares of the company’s stock valued at $134,369,000 after acquiring an additional 999,459 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Spectrum Brands by 56.3% during the 4th quarter. Victory Capital Management Inc. now owns 868,687 shares of the company’s stock valued at $88,363,000 after purchasing an additional 312,922 shares during the period. American Century Companies Inc. boosted its stake in Spectrum Brands by 14.5% during the 1st quarter. American Century Companies Inc. now owns 2,255,826 shares of the company’s stock valued at $200,137,000 after purchasing an additional 285,748 shares during the period. Finally, Cardinal Capital Management LLC CT lifted its position in shares of Spectrum Brands by 25.2% in the 1st quarter. Cardinal Capital Management LLC CT now owns 1,404,956 shares of the company’s stock worth $124,648,000 after acquiring an additional 282,821 shares during the period. 95.77% of the stock is owned by institutional investors and hedge funds.

About Spectrum Brands

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Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington and LumaBella brands.

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Analyst Recommendations for Spectrum Brands (NYSE:SPB)

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