Spectrum Brands (NYSE:SPB) Price Target Lowered to $55.00 at Wells Fargo & Company

Spectrum Brands (NYSE:SPB) had its price target trimmed by Wells Fargo & Company from $60.00 to $55.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities research analysts have also recently weighed in on SPB. Canaccord Genuity Group lowered their target price on Spectrum Brands from $77.00 to $75.00 and set a “buy” rating for the company in a report on Friday, August 8th. Wall Street Zen upgraded Spectrum Brands from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. 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. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Spectrum Brands presently has an average rating of “Moderate Buy” and an average target price of $73.80.

Spectrum Brands Stock Performance

Shares of Spectrum Brands stock opened at $52.11 on Thursday. Spectrum Brands has a 52 week low of $50.73 and a 52 week high of $96.62. The company has a market capitalization of $1.26 billion, a PE ratio of 19.44 and a beta of 0.83. The stock’s fifty day moving average is $55.47 and its two-hundred day moving average is $59.02. The company has a quick ratio of 1.50, a current ratio of 2.42 and a debt-to-equity ratio of 0.35.

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

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Tuesday, August 26th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Tuesday, August 26th. Spectrum Brands’s dividend payout ratio is 70.15%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SPB. Voloridge Investment Management LLC increased its position in Spectrum Brands by 142.8% during the 4th quarter. Voloridge Investment Management LLC now owns 24,926 shares of the company’s stock valued at $2,106,000 after buying an additional 14,662 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Spectrum Brands by 10.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 105,250 shares of the company’s stock valued at $8,893,000 after buying an additional 9,911 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Spectrum Brands during the 4th quarter valued at about $2,758,000. Wealth Enhancement Advisory Services LLC increased its position in Spectrum Brands by 13.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,259 shares of the company’s stock valued at $275,000 after buying an additional 396 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in Spectrum Brands by 101.7% during the 1st quarter. Versant Capital Management Inc now owns 970 shares of the company’s stock valued at $69,000 after buying an additional 489 shares in 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.