Spectrum Brands (NYSE:SPB) Reaches New 52-Week High at $88.56

Spectrum Brands Holdings, Inc. (NYSE:SPB)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $88.56 and last traded at $88.53, with a volume of 6288 shares changing hands. The stock had previously closed at $87.91.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Monness Crespi & Hardt raised their target price on shares of Spectrum Brands from $87.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Wells Fargo & Company increased their target price on Spectrum Brands from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Canaccord Genuity Group downgraded Spectrum Brands from a “buy” rating to a “hold” rating and boosted their price target for the company from $83.00 to $86.00 in a research report on Friday, February 9th. Canaccord Genuity Group reiterated a “hold” rating and set a $86.00 price objective (up from $83.00) on shares of Spectrum Brands in a research note on Friday, February 9th. Finally, StockNews.com raised shares of Spectrum Brands from a “sell” rating to a “hold” rating in a research note on Saturday, December 30th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $88.86.

Spectrum Brands Trading Up 0.7 %

The firm has a market cap of $2.69 billion, a P/E ratio of 1.93, a P/E/G ratio of 0.61 and a beta of 1.19. The business’s 50-day moving average is $82.34 and its two-hundred day moving average is $78.42. The company has a current ratio of 3.36, a quick ratio of 2.75 and a debt-to-equity ratio of 0.60.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.31 by $0.47. Spectrum Brands had a return on equity of 4.66% and a net margin of 63.89%. The company had revenue of $692.20 million during the quarter, compared to analyst estimates of $674.20 million. During the same period in the prior year, the company earned ($0.32) earnings per share. The business’s revenue was down 3.0% compared to the same quarter last year. As a group, analysts expect that Spectrum Brands Holdings, Inc. will post 3.79 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Friday, February 16th. Spectrum Brands’s dividend payout ratio (DPR) is 3.65%.

Hedge Funds Weigh In On Spectrum Brands

Institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC grew its position in Spectrum Brands by 351.9% in the 1st quarter. Acadian Asset Management LLC now owns 6,422 shares of the company’s stock worth $568,000 after purchasing an additional 5,001 shares during the last quarter. MetLife Investment Management LLC increased its position in Spectrum Brands by 1,012.7% in the 1st quarter. MetLife Investment Management LLC now owns 879 shares of the company’s stock valued at $78,000 after acquiring an additional 800 shares during the period. Bridgewater Associates LP raised its stake in Spectrum Brands by 306.4% during the 1st quarter. Bridgewater Associates LP now owns 90,590 shares of the company’s stock valued at $8,037,000 after acquiring an additional 68,300 shares in the last quarter. First Trust Advisors LP boosted its position in Spectrum Brands by 89.6% during the 1st quarter. First Trust Advisors LP now owns 160,082 shares of the company’s stock worth $14,202,000 after acquiring an additional 75,658 shares during the period. Finally, Gamco Investors INC. ET AL grew its stake in shares of Spectrum Brands by 62.9% in the first quarter. Gamco Investors INC. ET AL now owns 23,300 shares of the company’s stock worth $2,067,000 after purchasing an additional 9,000 shares in the last quarter.

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.