Spectrum Brands (NYSE:SPB) Price Target Cut to $90.00

Spectrum Brands (NYSE:SPB) had its price objective lowered by Canaccord Genuity Group from $92.00 to $90.00 in a research report released on Monday, Benzinga reports. The firm currently has a hold rating on the stock.

Other research analysts have also issued research reports about the stock. Monness Crespi & Hardt lifted their price objective on shares of Spectrum Brands from $98.00 to $106.00 and gave the stock a buy rating in a research note on Friday, May 10th. Royal Bank of Canada reissued an outperform rating and issued a $114.00 price target on shares of Spectrum Brands in a report on Friday, June 7th. Deutsche Bank Aktiengesellschaft raised their price objective on Spectrum Brands from $85.00 to $91.00 and gave the stock a hold rating in a research note on Friday, May 10th. Wells Fargo & Company boosted their target price on Spectrum Brands from $85.00 to $95.00 and gave the company an equal weight rating in a research note on Friday, May 10th. Finally, Oppenheimer raised their price target on Spectrum Brands from $88.00 to $115.00 and gave the stock an outperform rating in a research report on Friday, May 10th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Spectrum Brands presently has an average rating of Hold and an average target price of $99.57.

Spectrum Brands Stock Performance

Shares of Spectrum Brands stock opened at $85.00 on Monday. The firm has a fifty day moving average of $88.93 and a two-hundred day moving average of $84.14. 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 stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 1.72, a PEG ratio of 0.38 and a beta of 1.19. Spectrum Brands has a 52 week low of $65.27 and a 52 week high of $96.74.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Thursday, May 9th. The company reported $1.62 EPS for the quarter, beating 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 quarter in the prior year, the company posted ($0.14) earnings per share. The firm’s revenue was down 1.5% on a year-over-year basis. As a group, equities research analysts predict that Spectrum Brands will post 4.68 EPS for the current year.

Spectrum Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, May 28th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.98%. The ex-dividend date was Friday, May 24th. Spectrum Brands’s dividend payout ratio is 3.40%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Fidelis Capital Partners LLC acquired a new stake in Spectrum Brands in the 1st quarter valued at approximately $27,000. Larson Financial Group LLC raised its holdings in shares of Spectrum Brands by 72.6% in the fourth quarter. Larson Financial Group LLC now owns 359 shares of the company’s stock valued at $29,000 after purchasing an additional 151 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Spectrum Brands in the first quarter worth $30,000. International Assets Investment Management LLC lifted its position in shares of Spectrum Brands by 1,713.6% in the fourth quarter. International Assets Investment Management LLC now owns 399 shares of the company’s stock worth $32,000 after purchasing an additional 377 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in Spectrum Brands during the first quarter worth $42,000.

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.