Spectrum Brands (NYSE:SPB) Reaches New 52-Week High – Still a Buy?

Spectrum Brands Holdings, Inc. (NYSE:SPB) reached a new 52-week high on Tuesday . The stock traded as high as $97.20 and last traded at $97.20, with a volume of 654 shares changing hands. The stock had previously closed at $95.89.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group boosted their price target on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Monday, November 18th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Spectrum Brands presently has a consensus rating of “Hold” and a consensus price target of $102.38.

Spectrum Brands Stock Up 1.4 %

The firm has a 50 day moving average price of $91.55 and a 200-day moving average price of $89.68. The company has a current ratio of 2.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.26. The firm has a market cap of $2.73 billion, a PE ratio of 23.50, a PEG ratio of 1.65 and a beta of 1.19.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Friday, November 15th. The company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.16). Spectrum Brands had a net margin of 4.21% and a return on equity of 6.16%. The firm had revenue of $773.70 million during the quarter, compared to analysts’ expectations of $747.80 million. During the same quarter in the prior year, the firm posted $1.36 EPS. Spectrum Brands’s quarterly revenue was up 4.5% compared to the same quarter last year. Research analysts forecast that Spectrum Brands Holdings, Inc. will post 5.25 EPS for the current fiscal year.

Spectrum Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.93%. This is a positive change from Spectrum Brands’s previous quarterly dividend of $0.42. Spectrum Brands’s dividend payout ratio (DPR) is currently 46.08%.

Hedge Funds Weigh In On Spectrum Brands

A number of large investors have recently modified their holdings of the business. Waldron Private Wealth LLC acquired a new stake in shares of Spectrum Brands during the third quarter valued at $27,000. Brooklyn Investment Group acquired a new position in shares of Spectrum Brands in the third quarter valued at approximately $31,000. International Assets Investment Management LLC lifted its stake in shares of Spectrum Brands by 9,420.0% during the third quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock valued at $45,000 after buying an additional 471 shares during the period. Quarry LP grew its stake in Spectrum Brands by 375.0% in the 2nd quarter. Quarry LP now owns 570 shares of the company’s stock worth $49,000 after acquiring an additional 450 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Spectrum Brands in the 2nd quarter valued at about $50,000.

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.