Spectrum Brands Holdings, Inc. (NYSE:SPB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) have earned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $103.43.

Several brokerages have issued reports on SPB. UBS Group dropped their target price on shares of Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company dropped their target price on shares of Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Canaccord Genuity Group upgraded shares of Spectrum Brands from a “hold” rating to a “buy” rating and increased their target price for the stock from $94.00 to $102.00 in a report on Friday, February 7th. Finally, Royal Bank of Canada lowered their price target on shares of Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, February 7th.

Spectrum Brands Trading Down 0.8 %

NYSE SPB opened at $69.50 on Friday. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. Spectrum Brands has a 12 month low of $68.74 and a 12 month high of $96.74. The company’s 50-day moving average price is $78.82 and its 200-day moving average price is $86.27. The stock has a market cap of $1.83 billion, a PE ratio of 17.08, a PEG ratio of 1.70 and a beta of 1.20.

Spectrum Brands (NYSE:SPB) last issued its earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. During the same quarter in the previous year, the business posted $0.78 EPS. Equities research analysts forecast that Spectrum Brands will post 5.06 earnings per share for the current year.

Spectrum Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend was Tuesday, February 18th. Spectrum Brands’s dividend payout ratio is currently 46.19%.

Hedge Funds Weigh In On Spectrum Brands

Hedge funds and other institutional investors have recently modified their holdings of the stock. Citigroup Inc. raised its position in shares of Spectrum Brands by 15.9% in the 3rd quarter. Citigroup Inc. now owns 41,048 shares of the company’s stock valued at $3,905,000 after purchasing an additional 5,641 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Spectrum Brands in the 4th quarter valued at approximately $387,000. Charles Schwab Investment Management Inc. raised its position in shares of Spectrum Brands by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company’s stock valued at $38,089,000 after purchasing an additional 7,198 shares during the last quarter. Everence Capital Management Inc. purchased a new position in shares of Spectrum Brands in the 4th quarter valued at approximately $553,000. Finally, SG Americas Securities LLC raised its position in shares of Spectrum Brands by 478.4% in the 4th quarter. SG Americas Securities LLC now owns 13,500 shares of the company’s stock valued at $1,141,000 after purchasing an additional 11,166 shares during the last quarter.

About Spectrum Brands

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.