Spectrum Brands (NYSE:SPB) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Spectrum Brands (NYSE:SPB) had its price target increased by Canaccord Genuity Group from $91.00 to $94.00 in a research report released on Monday,Benzinga reports. They currently have a hold rating on the stock.

Several other analysts also recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft upped their price target on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, UBS Group boosted their target price on shares of Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Spectrum Brands presently has an average rating of “Hold” and an average target price of $102.38.

Spectrum Brands Stock Up 1.5 %

SPB opened at $90.26 on Monday. The firm has a 50-day simple moving average of $91.50 and a two-hundred day simple moving average of $89.62. Spectrum Brands has a 52 week low of $65.27 and a 52 week high of $96.74. The company has a market capitalization of $2.53 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 1.57 and a beta of 1.23. The company has a quick ratio of 1.61, a current ratio of 2.30 and a debt-to-equity ratio of 0.26.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings results on Friday, November 15th. The company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.16). The company had revenue of $773.70 million for the quarter, compared to analysts’ expectations of $747.80 million. Spectrum Brands had a net margin of 4.21% and a return on equity of 6.16%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.36 EPS. Analysts forecast that Spectrum Brands will post 5.25 earnings per share for the current fiscal year.

Spectrum Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.08%. This is an increase from Spectrum Brands’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Tuesday, November 26th. Spectrum Brands’s dividend payout ratio is presently 41.18%.

Institutional Trading of Spectrum Brands

Several large investors have recently bought and sold shares of the company. M&T Bank Corp bought a new position in shares of Spectrum Brands during the third quarter worth about $221,000. Barclays PLC increased its holdings in shares of Spectrum Brands by 71.4% during the third quarter. Barclays PLC now owns 35,407 shares of the company’s stock valued at $3,369,000 after purchasing an additional 14,746 shares during the period. National Bank of Canada FI increased its stake in Spectrum Brands by 10,046.3% during the 3rd quarter. National Bank of Canada FI now owns 44,441 shares of the company’s stock valued at $4,228,000 after buying an additional 44,003 shares during the period. Wellington Management Group LLP raised its holdings in Spectrum Brands by 7.6% during the third quarter. Wellington Management Group LLP now owns 513,025 shares of the company’s stock worth $48,809,000 after purchasing an additional 36,063 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Spectrum Brands by 1.3% in the 3rd quarter. State Street Corp now owns 590,222 shares of the company’s stock worth $56,154,000 after buying an additional 7,783 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.