Brokerages Set Spectrum Brands Holdings, Inc. (NYSE:SPB) Target Price at $102.38

Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) have been given a consensus rating of “Moderate Buy” by the eight analysts that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $102.38.

Separately, Canaccord Genuity Group increased their price objective on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research report on Monday, November 18th.

Spectrum Brands Trading Down 0.7 %

SPB opened at $90.48 on Friday. The company has a current ratio of 2.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.26. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.58 and a beta of 1.19. Spectrum Brands has a 12 month low of $75.50 and a 12 month high of $96.74. The stock has a fifty day moving average price of $91.45 and a 200-day moving average price of $89.68.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Friday, November 15th. The company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.16). The firm had revenue of $773.70 million for the quarter, compared to analysts’ expectations of $747.80 million. Spectrum Brands had a net margin of 4.21% and a return on equity of 6.16%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.36 EPS. As a group, equities research analysts anticipate that Spectrum Brands will post 5.25 earnings per share for the current fiscal year.

Spectrum Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, November 26th will be given a dividend of $0.47 per share. The ex-dividend date is Tuesday, November 26th. This is a positive change from Spectrum Brands’s previous quarterly dividend of $0.42. This represents a $1.88 dividend on an annualized basis and a yield of 2.08%. Spectrum Brands’s dividend payout ratio (DPR) is currently 46.08%.

Institutional Trading of Spectrum Brands

Several large investors have recently made changes to their positions in SPB. Allspring Global Investments Holdings LLC lifted its position in Spectrum Brands by 5.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,120,102 shares of the company’s stock valued at $201,707,000 after purchasing an additional 112,530 shares during the period. Pzena Investment Management LLC lifted its holdings in shares of Spectrum Brands by 10.4% in the 3rd quarter. Pzena Investment Management LLC now owns 1,310,861 shares of the company’s stock valued at $124,715,000 after buying an additional 123,733 shares during the period. State Street Corp lifted its holdings in shares of Spectrum Brands by 1.3% in the 3rd quarter. State Street Corp now owns 590,222 shares of the company’s stock valued at $56,154,000 after buying an additional 7,783 shares during the period. Wellington Management Group LLP grew its holdings in Spectrum Brands by 7.6% during the third quarter. Wellington Management Group LLP now owns 513,025 shares of the company’s stock worth $48,809,000 after acquiring an additional 36,063 shares during the period. Finally, Armistice Capital LLC grew its holdings in Spectrum Brands by 129.4% during the second quarter. Armistice Capital LLC now owns 439,377 shares of the company’s stock worth $37,756,000 after acquiring an additional 247,809 shares during the period.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. 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, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.