Spectrum Brands (NYSE:SPB) Upgraded to “Sell” at StockNews.com

StockNews.com upgraded shares of Spectrum Brands (NYSE:SPB – Get Rating) to a sell rating in a report issued on Monday.

Other equities analysts have also issued research reports about the company. UBS Group decreased their target price on Spectrum Brands from $91.00 to $84.00 and set a buy rating for the company in a research report on Wednesday, November 23rd. Deutsche Bank Aktiengesellschaft lowered Spectrum Brands from a buy rating to a hold rating and set a $70.00 target price for the company. in a research report on Tuesday, December 6th. Wells Fargo & Company boosted their target price on Spectrum Brands from $70.00 to $75.00 and gave the stock an overweight rating in a research report on Monday, February 13th. Finally, TheStreet raised Spectrum Brands from a d+ rating to a c- rating in a research report on Thursday, January 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Spectrum Brands has a consensus rating of Moderate Buy and an average price target of $79.17.

Spectrum Brands Price Performance

SPB opened at $63.85 on Monday. The stock has a 50-day moving average price of $64.03 and a 200-day moving average price of $56.15. The company has a debt-to-equity ratio of 2.64, a current ratio of 2.94 and a quick ratio of 2.29. The firm has a market cap of $2.62 billion, a PE ratio of 61.39 and a beta of 1.41. Spectrum Brands has a 1 year low of $38.93 and a 1 year high of $93.22.

Spectrum Brands (NYSE:SPB – Get Rating) last posted its quarterly earnings results on Friday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.18). Spectrum Brands had a return on equity of 3.53% and a net margin of 1.38%. The company had revenue of $713.30 million during the quarter, compared to analysts’ expectations of $758.27 million. During the same period in the prior year, the firm earned ($0.06) EPS. Spectrum Brands’s revenue for the quarter was down 5.8% compared to the same quarter last year. Sell-side analysts predict that Spectrum Brands will post 1.34 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 14th. Investors of record on Tuesday, February 21st will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, February 17th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.63%. Spectrum Brands’s dividend payout ratio (DPR) is presently 161.54%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Pinebridge Investments L.P. grew its stake in shares of Spectrum Brands by 233.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 333 shares of the company’s stock valued at $27,000 after acquiring an additional 233 shares during the period. Signaturefd LLC grew its stake in shares of Spectrum Brands by 529.7% during the 4th quarter. Signaturefd LLC now owns 466 shares of the company’s stock valued at $28,000 after acquiring an additional 392 shares during the period. Captrust Financial Advisors grew its stake in shares of Spectrum Brands by 31.7% during the 1st quarter. Captrust Financial Advisors now owns 503 shares of the company’s stock valued at $45,000 after acquiring an additional 121 shares during the period. CWM LLC grew its stake in shares of Spectrum Brands by 844.7% during the 3rd quarter. CWM LLC now owns 803 shares of the company’s stock valued at $31,000 after acquiring an additional 718 shares during the period. Finally, Benjamin F. Edwards & Company Inc. bought a new position in shares of Spectrum Brands during the 3rd quarter valued at approximately $33,000. 95.33% of the stock is currently owned by institutional investors.

About Spectrum Brands

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Spectrum Brands Holdings, Inc is a consumer products and home essentials company, which engages in the manufacturing and supply of residential locksets, residential builders’ hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn, garden and home pest control products, and personal insect repellents.