Spectrum Brands (NYSE:SPB) PT Raised to $114.00

Spectrum Brands (NYSE:SPB) had its target price boosted by analysts at Royal Bank of Canada from $100.00 to $114.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 20.25% from the company’s previous close.

SPB has been the subject of several other reports. Wells Fargo & Company increased their price target on shares of Spectrum Brands from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. Oppenheimer raised their target price on shares of Spectrum Brands from $88.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday. Monness Crespi & Hardt upped their price target on Spectrum Brands from $98.00 to $106.00 and gave the stock a “buy” rating in a research report on Friday. Canaccord Genuity Group reaffirmed a “hold” rating and set a $86.00 target price (up from $83.00) on shares of Spectrum Brands in a research report on Friday, February 9th. Finally, Canaccord Genuity Group lowered shares of Spectrum Brands from a “buy” rating to a “hold” rating and increased their price objective for the company from $83.00 to $86.00 in a research report on Friday, February 9th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Spectrum Brands presently has a consensus rating of “Hold” and an average target price of $99.86.

Spectrum Brands Trading Up 0.2 %

NYSE:SPB opened at $94.80 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.75 and a current ratio of 3.36. The firm has a 50-day simple moving average of $83.89 and a 200-day simple moving average of $79.73. Spectrum Brands has a one year low of $65.27 and a one year high of $96.74. The firm has a market cap of $2.87 billion, a P/E ratio of 1.92, a P/E/G ratio of 0.66 and a beta of 1.20.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Thursday, May 9th. The company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $1.13. The company had revenue of $718.50 million during the quarter, compared to analyst estimates of $708.54 million. Spectrum Brands had a return on equity of 6.30% and a net margin of 68.11%. Spectrum Brands’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.14) earnings per share. Equities analysts anticipate that Spectrum Brands will post 3.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Spectrum Brands

Several hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. purchased a new position in Spectrum Brands during the fourth quarter valued at approximately $1,424,000. Qube Research & Technologies Ltd acquired a new position in shares of Spectrum Brands in the third quarter worth about $4,452,000. Fifth Third Bancorp purchased a new stake in shares of Spectrum Brands during the 4th quarter worth about $71,000. California Public Employees Retirement System increased its stake in shares of Spectrum Brands by 32.5% in the 3rd quarter. California Public Employees Retirement System now owns 72,330 shares of the company’s stock valued at $5,667,000 after purchasing an additional 17,753 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its holdings in Spectrum Brands by 5.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 152,745 shares of the company’s stock worth $11,968,000 after purchasing an additional 8,431 shares during the period.

Spectrum Brands Company Profile

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.