Wells Fargo & Co reissued their hold rating on shares of Spectrum Brands (NYSE:SPB) in a research report released on Wednesday, AnalystRatings.com reports. Wells Fargo & Co currently has a $62.00 price target on the stock.
Several other research analysts have also commented on the company. Zacks Investment Research lowered Spectrum Brands from a buy rating to a hold rating in a research report on Wednesday, April 24th. Deutsche Bank raised their price objective on Spectrum Brands from $52.00 to $58.00 and gave the company a hold rating in a research report on Monday, April 8th. Bank of America raised Spectrum Brands from a neutral rating to a buy rating and raised their price objective for the company from $50.00 to $65.00 in a research report on Friday, January 18th. Finally, CIBC reissued a buy rating and issued a $14.50 price objective on shares of Spectrum Brands in a research report on Thursday, January 10th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Spectrum Brands currently has an average rating of Buy and a consensus target price of $62.15.
NYSE:SPB traded up $0.02 during mid-day trading on Wednesday, hitting $65.77. The company had a trading volume of 27,121 shares, compared to its average volume of 581,463. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.12 and a quick ratio of 0.91. Spectrum Brands has a 1 year low of $40.54 and a 1 year high of $92.72. The firm has a market capitalization of $3.06 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 2.52 and a beta of 1.93.
Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.12). Spectrum Brands had a net margin of 3.32% and a return on equity of 3.24%. The company had revenue of $906.70 million during the quarter, compared to analysts’ expectations of $874.57 million. During the same period last year, the business earned $0.49 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts anticipate that Spectrum Brands will post 2.88 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Monday, May 13th. Spectrum Brands’s payout ratio is 47.46%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Teachers Advisors LLC boosted its stake in Spectrum Brands by 83.9% in the third quarter. Teachers Advisors LLC now owns 48,024 shares of the company’s stock valued at $3,588,000 after acquiring an additional 21,909 shares during the period. TIAA CREF Investment Management LLC raised its holdings in shares of Spectrum Brands by 42.2% during the third quarter. TIAA CREF Investment Management LLC now owns 52,099 shares of the company’s stock valued at $3,893,000 after buying an additional 15,474 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Spectrum Brands by 93.4% during the third quarter. Legal & General Group Plc now owns 21,586 shares of the company’s stock valued at $1,613,000 after buying an additional 10,422 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Spectrum Brands by 115.8% during the third quarter. Vanguard Group Inc. now owns 3,759,477 shares of the company’s stock valued at $280,909,000 after buying an additional 2,017,489 shares during the last quarter. Finally, Cerebellum GP LLC bought a new stake in shares of Spectrum Brands during the fourth quarter valued at approximately $122,000.
Spectrum Brands Company Profile
Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware, Stanley, and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell brands; and plumbing products under the Pfister brand.
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