Spectrum Brands’ (SPB) “Outperform” Rating Reaffirmed at Royal Bank Of Canada

Royal Bank Of Canada reaffirmed their outperform rating on shares of Spectrum Brands (NYSE:SPB) in a report released on Tuesday morning,Benzinga reports. They currently have a $75.00 target price on the stock.

A number of other equities research analysts have also recently commented on SPB. Canaccord Genuity Group increased their price target on Spectrum Brands from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Wells Fargo & Company upped their price objective on shares of Spectrum Brands from $55.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, November 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Spectrum Brands in a research note on Monday, December 29th. Finally, Wall Street Zen raised shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

Spectrum Brands Trading Up 1.9%

NYSE:SPB opened at $66.87 on Tuesday. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 16.89 and a beta of 0.68. Spectrum Brands has a 52 week low of $49.99 and a 52 week high of $83.50. The company has a quick ratio of 1.41, a current ratio of 2.26 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average of $61.35 and a 200 day moving average of $57.15.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Thursday, November 13th. The company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $1.84. The business had revenue of $733.50 million for the quarter, compared to analyst estimates of $738.57 million. Spectrum Brands had a net margin of 3.56% and a return on equity of 7.29%. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 earnings per share. As a group, sell-side analysts anticipate that Spectrum Brands will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Monday, November 24th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, November 24th. Spectrum Brands’s dividend payout ratio (DPR) is 47.47%.

Institutional Investors Weigh In On Spectrum Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Spectrum Brands by 7,237.5% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company’s stock valued at $31,000 after buying an additional 579 shares during the period. Farther Finance Advisors LLC raised its position in Spectrum Brands by 111.7% during the fourth quarter. Farther Finance Advisors LLC now owns 635 shares of the company’s stock valued at $38,000 after acquiring an additional 335 shares in the last quarter. Headlands Technologies LLC acquired a new position in Spectrum Brands in the second quarter valued at approximately $41,000. SJS Investment Consulting Inc. acquired a new position in Spectrum Brands in the third quarter valued at approximately $47,000. Finally, State of Alaska Department of Revenue purchased a new stake in Spectrum Brands in the 3rd quarter worth approximately $49,000.

About Spectrum Brands

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.