Spectrum Brands Holdings Inc. (NYSE:SPB) Given Average Rating of “Moderate Buy” by Analysts

Spectrum Brands Holdings Inc. (NYSE:SPB) has been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $83.00.

Several research analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Spectrum Brands in a report on Monday, December 29th. Canaccord Genuity Group lifted their target price on shares of Spectrum Brands from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Wall Street Zen raised shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Royal Bank Of Canada set a $85.00 price objective on shares of Spectrum Brands in a report on Friday, February 6th. Finally, Wells Fargo & Company lifted their price objective on Spectrum Brands from $62.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, February 6th.

Spectrum Brands Price Performance

SPB opened at $76.50 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.38 and a current ratio of 2.21. Spectrum Brands has a 52-week low of $49.99 and a 52-week high of $80.42. The stock has a market capitalization of $1.77 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 2.58 and a beta of 0.64. The stock’s 50 day moving average price is $69.22 and its 200-day moving average price is $60.40.

Spectrum Brands (NYSE:SPB) last announced its earnings results on Thursday, February 5th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.63. The company had revenue of $677.00 million during the quarter, compared to the consensus estimate of $667.59 million. Spectrum Brands had a return on equity of 7.65% and a net margin of 3.76%.The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.02 earnings per share. On average, equities research analysts predict that Spectrum Brands will post 5.06 EPS for the current year.

Spectrum Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th will be given a dividend of $0.47 per share. The ex-dividend date is Tuesday, February 17th. This represents a $1.88 annualized dividend and a dividend yield of 2.5%. Spectrum Brands’s payout ratio is currently 43.42%.

Hedge Funds Weigh In On Spectrum Brands

A number of institutional investors have recently added to or reduced their stakes in SPB. Pzena Investment Management LLC boosted its holdings in shares of Spectrum Brands by 66.8% during the 3rd quarter. Pzena Investment Management LLC now owns 2,459,485 shares of the company’s stock valued at $129,197,000 after buying an additional 985,034 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Spectrum Brands by 374,119.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,196,666 shares of the company’s stock worth $129,779,000 after acquiring an additional 2,196,079 shares in the last quarter. Callodine Capital Management LP increased its stake in shares of Spectrum Brands by 20.4% in the 4th quarter. Callodine Capital Management LP now owns 2,065,216 shares of the company’s stock worth $122,013,000 after acquiring an additional 350,261 shares in the last quarter. American Century Companies Inc. lifted its position in Spectrum Brands by 14.5% during the 3rd quarter. American Century Companies Inc. now owns 2,052,850 shares of the company’s stock valued at $107,836,000 after acquiring an additional 260,085 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Spectrum Brands by 39.6% during the second quarter. Geode Capital Management LLC now owns 606,272 shares of the company’s stock worth $32,137,000 after acquiring an additional 172,132 shares in the last quarter.

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.