Brokerages Set Spectrum Brands Holdings, Inc. (NYSE:SPB) Price Target at $99.86

Spectrum Brands Holdings, Inc. (NYSE:SPB) has received an average recommendation of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $99.86.

A number of equities analysts recently issued reports on the company. Canaccord Genuity Group downgraded Spectrum Brands from a “buy” rating to a “hold” rating and upped their price target for the company from $83.00 to $86.00 in a report on Friday, February 9th. Royal Bank of Canada upped their price target on Spectrum Brands from $100.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, May 10th. Wells Fargo & Company upped their price target on Spectrum Brands from $85.00 to $95.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. Canaccord Genuity Group upped their price target on Spectrum Brands from $86.00 to $92.00 and gave the company a “hold” rating in a report on Friday, May 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Spectrum Brands from $85.00 to $91.00 and gave the company a “hold” rating in a report on Friday, May 10th.

Institutional Investors Weigh In On Spectrum Brands

Several large investors have recently modified their holdings of the stock. Pzena Investment Management LLC lifted its holdings in shares of Spectrum Brands by 21.7% during the first quarter. Pzena Investment Management LLC now owns 1,315,483 shares of the company’s stock worth $117,091,000 after purchasing an additional 234,784 shares during the period. Alberta Investment Management Corp lifted its holdings in shares of Spectrum Brands by 7.9% during the fourth quarter. Alberta Investment Management Corp now owns 748,700 shares of the company’s stock worth $59,724,000 after purchasing an additional 55,100 shares during the period. LSV Asset Management lifted its holdings in shares of Spectrum Brands by 68.9% during the first quarter. LSV Asset Management now owns 745,680 shares of the company’s stock worth $66,373,000 after purchasing an additional 304,217 shares during the period. Great Lakes Advisors LLC lifted its holdings in shares of Spectrum Brands by 50.0% during the fourth quarter. Great Lakes Advisors LLC now owns 324,413 shares of the company’s stock worth $25,878,000 after purchasing an additional 108,076 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Spectrum Brands by 1,376.7% during the third quarter. AQR Capital Management LLC now owns 320,091 shares of the company’s stock worth $25,079,000 after purchasing an additional 298,415 shares during the period.

Spectrum Brands Stock Performance

Shares of Spectrum Brands stock opened at $92.33 on Wednesday. Spectrum Brands has a one year low of $65.27 and a one year high of $96.74. The company has a market cap of $2.69 billion, a PE ratio of 1.87, a P/E/G ratio of 0.40 and a beta of 1.20. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.05 and a current ratio of 3.73. The business has a 50-day simple moving average of $86.02 and a 200-day simple moving average of $80.98.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data on Thursday, May 9th. The company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $1.13. Spectrum Brands had a return on equity of 6.43% and a net margin of 68.11%. The business had revenue of $718.50 million during the quarter, compared to the consensus estimate of $708.54 million. During the same period in the previous year, the company posted ($0.14) earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities research analysts forecast that Spectrum Brands will post 4.68 EPS for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, May 28th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Friday, May 24th. Spectrum Brands’s payout ratio is currently 3.40%.

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.