Spectrum Brands (NYSE:SPB) Upgraded at Wall Street Zen

Spectrum Brands (NYSE:SPB) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.

Other analysts also recently issued reports about the stock. Wells Fargo & Company reduced their price target on shares of Spectrum Brands from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday, September 25th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Spectrum Brands in a report on Wednesday, October 8th. Royal Bank Of Canada set a $75.00 price target on shares of Spectrum Brands and gave the company an “outperform” rating in a report on Monday, August 11th. Finally, Canaccord Genuity Group reduced their price target on shares of Spectrum Brands from $77.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Spectrum Brands presently has an average rating of “Moderate Buy” and a consensus target price of $73.80.

Spectrum Brands Stock Down 1.8%

Shares of SPB stock opened at $53.82 on Friday. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 20.08 and a beta of 0.81. Spectrum Brands has a one year low of $49.99 and a one year high of $96.62. The company’s fifty day moving average price is $54.00 and its 200-day moving average price is $56.37. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.42 and a quick ratio of 1.50.

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

Institutional Trading of Spectrum Brands

Large investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Spectrum Brands by 82.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,938 shares of the company’s stock worth $425,000 after purchasing an additional 2,679 shares during the period. New York State Teachers Retirement System purchased a new position in shares of Spectrum Brands during the 1st quarter worth about $118,000. Acadian Asset Management LLC boosted its stake in shares of Spectrum Brands by 1,433.7% during the 1st quarter. Acadian Asset Management LLC now owns 101,728 shares of the company’s stock worth $7,268,000 after purchasing an additional 95,095 shares during the period. Aigen Investment Management LP purchased a new position in shares of Spectrum Brands during the 1st quarter worth about $386,000. Finally, CW Advisors LLC boosted its stake in shares of Spectrum Brands by 48.3% during the 1st quarter. CW Advisors LLC now owns 16,767 shares of the company’s stock worth $1,200,000 after purchasing an additional 5,458 shares during the period.

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.