Analysts Set Spectrum Brands Holdings Inc. (NYSE:SPB) PT at $87.00

Shares of Spectrum Brands Holdings Inc. (NYSE:SPB) have earned an average rating of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $87.00.

A number of brokerages recently issued reports on SPB. Weiss Ratings upgraded shares of Spectrum Brands from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Canaccord Genuity Group cut their target price on Spectrum Brands from $100.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, June 17th. Wall Street Zen cut Spectrum Brands from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Wells Fargo & Company upped their price target on Spectrum Brands from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $81.00 price objective on shares of Spectrum Brands in a report on Friday, May 8th.

Spectrum Brands Price Performance

NYSE SPB opened at $84.29 on Friday. The company has a quick ratio of 1.42, a current ratio of 2.29 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $1.94 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 2.66 and a beta of 0.64. Spectrum Brands has a 12-month low of $49.99 and a 12-month high of $88.14. The company has a 50 day moving average price of $81.60 and a two-hundred day moving average price of $75.85.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.04 by $0.21. The company had revenue of $708.90 million for the quarter, compared to analyst estimates of $676.45 million. Spectrum Brands had a net margin of 4.47% and a return on equity of 8.23%. Spectrum Brands’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.68 EPS. As a group, equities analysts predict that Spectrum Brands will post 5.32 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a yield of 2.2%. Spectrum Brands’s dividend payout ratio is presently 35.88%.

Insider Transactions at Spectrum Brands

In related news, CEO David M. Maura purchased 2,500 shares of the stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $72.85 per share, for a total transaction of $182,125.00. Following the completion of the acquisition, the chief executive officer directly owned 790,708 shares in the company, valued at approximately $57,603,077.80. This trade represents a 0.32% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.50% of the stock is owned by insiders.

Institutional Trading of Spectrum Brands

A number of institutional investors and hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its stake in 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 valued at $129,779,000 after buying an additional 2,196,079 shares during the last quarter. Callodine Capital Management LP lifted its position in Spectrum Brands by 20.4% during 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 during the last quarter. LSV Asset Management lifted its position in Spectrum Brands by 2.9% during the 4th 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Spectrum Brands by 6.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 579,941 shares of the company’s stock valued at $34,263,000 after acquiring an additional 33,194 shares during the period. Finally, Qube Research & Technologies Ltd boosted its holdings in Spectrum Brands by 71.2% during the second quarter. Qube Research & Technologies Ltd now owns 539,728 shares of the company’s stock valued at $28,606,000 after acquiring an additional 224,481 shares during the period.

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.