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

Shares of Spectrum Brands Holdings Inc. (NYSE:SPB) have been given an average recommendation of “Moderate Buy” by the five ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $74.80.

Several equities analysts have commented on the company. Wall Street Zen raised Spectrum Brands from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Wells Fargo & Company cut their price target on Spectrum Brands from $65.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, July 9th. Canaccord Genuity Group cut their price target on Spectrum Brands from $77.00 to $75.00 and set a “buy” rating for the company in a report on Friday, August 8th. Monness Crespi & Hardt cut their price target on Spectrum Brands from $106.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, May 14th. Finally, Royal Bank Of Canada set a $75.00 target price on Spectrum Brands and gave the stock an “outperform” rating in a report on Monday, August 11th.

Spectrum Brands Trading Up 0.8%

Spectrum Brands stock opened at $56.2170 on Wednesday. The business has a 50 day moving average price of $55.30 and a two-hundred day moving average price of $63.21. The company has a quick ratio of 1.50, a current ratio of 2.42 and a debt-to-equity ratio of 0.35. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 20.98 and a beta of 0.86. Spectrum Brands has a 12 month low of $50.73 and a 12 month high of $96.62.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.01). The firm had revenue of $699.60 million during the quarter, compared to analyst estimates of $742.13 million. Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. The company’s revenue was down 10.2% on a year-over-year basis. During the same period last year, the company earned $1.13 EPS. As a group, equities analysts forecast that Spectrum Brands will post 5.06 EPS for the current year.

Spectrum Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Tuesday, August 26th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.3%. Spectrum Brands’s dividend payout ratio is presently 70.15%.

Hedge Funds Weigh In On Spectrum Brands

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Spectrum Brands by 120.3% in the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the company’s stock worth $26,000 after buying an additional 267 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Spectrum Brands in the 2nd quarter worth approximately $41,000. Versant Capital Management Inc raised its holdings in shares of Spectrum Brands by 101.7% in the 1st quarter. Versant Capital Management Inc now owns 970 shares of the company’s stock worth $69,000 after buying an additional 489 shares in the last quarter. Blue Trust Inc. grew its position in Spectrum Brands by 44.8% during the 2nd quarter. Blue Trust Inc. now owns 1,060 shares of the company’s stock worth $56,000 after acquiring an additional 328 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in Spectrum Brands by 89.6% during the 4th quarter. Lazard Asset Management LLC now owns 1,464 shares of the company’s stock worth $123,000 after acquiring an additional 692 shares during the last quarter.

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.