Spectrum Brands Holdings Inc. (NYSE:SPB) Receives Consensus Rating of “Moderate Buy” from Brokerages

Spectrum Brands Holdings Inc. (NYSE:SPB) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $83.00.

A number of research firms recently issued reports on SPB. Canaccord Genuity Group increased their price target on shares of Spectrum Brands from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Oppenheimer upped their target price on Spectrum Brands from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday. Royal Bank Of Canada set a $85.00 target price on Spectrum Brands in a research note on Friday. Wall Street Zen raised Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Spectrum Brands in a report on Monday, December 29th.

Spectrum Brands Price Performance

Shares of Spectrum Brands stock opened at $74.52 on Wednesday. The business has a 50 day moving average of $62.83 and a 200 day moving average of $57.67. Spectrum Brands has a 52 week low of $49.99 and a 52 week high of $80.28. The company has a market cap of $1.73 billion, a PE ratio of 17.21, a P/E/G ratio of 2.50 and a beta of 0.68. The company has a quick ratio of 1.38, a current ratio of 2.21 and a debt-to-equity ratio of 0.29.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, February 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.63. Spectrum Brands had a net margin of 3.76% and a return on equity of 7.65%. The business had revenue of $677.00 million for the quarter, compared to the consensus estimate of $667.59 million. During the same period in the previous year, the firm earned $1.02 EPS. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. As a group, equities research analysts forecast that Spectrum Brands will post 5.06 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The firm 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. This represents a $1.88 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, February 17th. Spectrum Brands’s dividend payout ratio (DPR) is 43.42%.

Hedge Funds Weigh In On Spectrum Brands

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. boosted its position in shares of Spectrum Brands by 96.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company’s stock worth $37,000 after purchasing an additional 310 shares in the last quarter. Baker Avenue Asset Management LP purchased a new position in Spectrum Brands during the fourth quarter valued at $243,000. LSV Asset Management boosted its holdings in Spectrum Brands by 2.9% in the fourth quarter. LSV Asset Management now owns 602,980 shares of the company’s stock worth $35,624,000 after acquiring an additional 17,100 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Spectrum Brands by 18.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,043 shares of the company’s stock worth $239,000 after acquiring an additional 641 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of Spectrum Brands by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 4,721 shares of the company’s stock worth $279,000 after acquiring an additional 140 shares during 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.