Spectrum Brands (NYSE:SPB) Sets New 1-Year Low – Here’s What Happened

Spectrum Brands Holdings, Inc. (NYSE:SPB) shares reached a new 52-week low on Thursday . The stock traded as low as $76.35 and last traded at $80.61, with a volume of 50822 shares traded. The stock had previously closed at $82.86.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SPB shares. Royal Bank of Canada cut their price objective on shares of Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday. Canaccord Genuity Group raised Spectrum Brands from a “hold” rating to a “buy” rating and raised their price objective for the stock from $94.00 to $102.00 in a research note on Friday. Wedbush upgraded Spectrum Brands from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $6.00 to $10.00 in a research note on Friday. Wells Fargo & Company lowered their price target on shares of Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Finally, UBS Group cut their price target on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.11.

Spectrum Brands Price Performance

The firm has a fifty day simple moving average of $86.57 and a two-hundred day simple moving average of $89.04. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.62 and a current ratio of 2.30. The firm has a market cap of $2.14 billion, a PE ratio of 19.21, a PEG ratio of 1.36 and a beta of 1.20.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.34% and a net margin of 4.01%. During the same quarter in the prior year, the firm earned $0.78 EPS. Equities analysts predict that Spectrum Brands Holdings, Inc. will post 5.17 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.88 annualized dividend and a dividend yield of 2.40%. Spectrum Brands’s dividend payout ratio (DPR) is 46.19%.

Hedge Funds Weigh In On Spectrum Brands

A number of hedge funds have recently added to or reduced their stakes in SPB. Wealthfront Advisers LLC bought a new stake in Spectrum Brands during the 4th quarter valued at $16,606,000. Pzena Investment Management LLC boosted its position in Spectrum Brands by 1.7% during the fourth quarter. Pzena Investment Management LLC now owns 1,333,345 shares of the company’s stock valued at $112,654,000 after purchasing an additional 22,484 shares in the last quarter. AlphaQuest LLC grew its stake in Spectrum Brands by 567.8% in the fourth quarter. AlphaQuest LLC now owns 20,302 shares of the company’s stock valued at $1,715,000 after purchasing an additional 17,262 shares during the last quarter. Raymond James Financial Inc. bought a new position in Spectrum Brands in the fourth quarter worth about $972,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Spectrum Brands during the fourth quarter valued at about $2,463,000.

About Spectrum Brands

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.