Canaccord Genuity Group Issues Positive Forecast for Spectrum Brands (NYSE:SPB) Stock Price

Spectrum Brands (NYSE:SPB) had its target price boosted by Canaccord Genuity Group from $75.00 to $84.00 in a research report released on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other analysts have also recently issued reports on SPB. Weiss Ratings reiterated a “hold (c)” rating on shares of Spectrum Brands in a research note on Thursday. Royal Bank Of Canada set a $75.00 price objective on shares of Spectrum Brands and gave the company an “outperform” rating in a research note on Monday, August 11th. Wall Street Zen downgraded shares of Spectrum Brands from a “hold” rating to a “sell” rating in a research report on Monday, November 10th. Finally, Wells Fargo & Company raised their target price on Spectrum Brands from $55.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

Spectrum Brands Stock Performance

Shares of SPB stock opened at $56.03 on Monday. 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 has a fifty-two week low of $49.99 and a fifty-two week high of $96.62. The stock’s 50-day moving average is $53.70 and its two-hundred day moving average is $55.82. The firm has a market cap of $1.36 billion, a P/E ratio of 14.15 and a beta of 0.82.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, November 13th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $1.84. The business had revenue of $733.50 million during the quarter, compared to analyst estimates of $738.57 million. Spectrum Brands had a return on equity of 7.27% and a net margin of 3.56%.The firm’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 EPS. Analysts predict that Spectrum Brands will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Monday, November 24th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, November 24th. Spectrum Brands’s dividend payout ratio (DPR) is 47.47%.

Institutional Investors Weigh In On Spectrum Brands

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC grew its holdings in Spectrum Brands by 1,433.7% in the 1st quarter. Acadian Asset Management LLC now owns 101,728 shares of the company’s stock valued at $7,268,000 after buying an additional 95,095 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of Spectrum Brands in the first quarter valued at approximately $386,000. CW Advisors LLC grew its stake in shares of Spectrum Brands by 48.3% in the first quarter. CW Advisors LLC now owns 16,767 shares of the company’s stock worth $1,200,000 after acquiring an additional 5,458 shares during the last quarter. Redwood Investment Management LLC increased its position in Spectrum Brands by 9.9% during the first quarter. Redwood Investment Management LLC now owns 70,518 shares of the company’s stock worth $5,046,000 after acquiring an additional 6,377 shares during the period. Finally, Ieq Capital LLC raised its stake in Spectrum Brands by 185.6% during the 1st quarter. Ieq Capital LLC now owns 19,003 shares of the company’s stock valued at $1,360,000 after purchasing an additional 12,350 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.