Canaccord Genuity Group Cuts Spectrum Brands (NYSE:SPB) Price Target to $90.00

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

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

Spectrum Brands Price Performance

Shares of NYSE:SPB opened at $85.00 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.73 and a quick ratio of 3.05. Spectrum Brands has a 1-year low of $65.27 and a 1-year high of $96.74. The company has a market capitalization of $2.48 billion, a P/E ratio of 1.72, a P/E/G ratio of 0.38 and a beta of 1.19. The firm’s 50 day simple moving average is $88.93 and its two-hundred day simple moving average is $84.14.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Thursday, May 9th. The company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $0.49 by $1.13. Spectrum Brands had a net margin of 68.11% and a return on equity of 6.43%. The business had revenue of $718.50 million for the quarter, compared to the consensus estimate of $708.54 million. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Research analysts expect that Spectrum Brands will post 4.68 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

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

Institutional Investors Weigh In On Spectrum Brands

Large investors have recently bought and sold shares of the business. First Eagle Investment Management LLC bought a new stake in Spectrum Brands in the fourth quarter worth $3,949,000. Great Lakes Advisors LLC increased its position in Spectrum Brands by 50.0% during the fourth quarter. Great Lakes Advisors LLC now owns 324,413 shares of the company’s stock valued at $25,878,000 after acquiring an additional 108,076 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Spectrum Brands during the fourth quarter valued at $1,424,000. Redwood Investment Management LLC increased its position in Spectrum Brands by 273.6% during the fourth quarter. Redwood Investment Management LLC now owns 76,092 shares of the company’s stock valued at $6,070,000 after acquiring an additional 55,727 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in Spectrum Brands during the third quarter valued at $4,452,000.

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.