Brokerages Set Spectrum Brands Holdings, Inc. (NYSE:SPB) PT at $101.88

Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) have been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $101.88.

SPB has been the subject of several analyst reports. Wells Fargo & Company raised their target price on Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lifted their target price on Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $114.00 target price on shares of Spectrum Brands in a research note on Friday, June 7th. Canaccord Genuity Group decreased their price objective on Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a research note on Monday, July 1st. Finally, UBS Group raised their target price on shares of Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 9th.

Spectrum Brands Stock Performance

SPB opened at $93.79 on Tuesday. The firm has a market capitalization of $2.63 billion, a P/E ratio of 1.90, a price-to-earnings-growth ratio of 0.33 and a beta of 1.22. The stock’s 50 day moving average price is $89.64 and its two-hundred day moving average price is $87.54. The company has a quick ratio of 1.61, a current ratio of 2.28 and a debt-to-equity ratio of 0.26. Spectrum Brands has a 12-month low of $65.27 and a 12-month high of $96.74.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.25). Spectrum Brands had a return on equity of 6.84% and a net margin of 3.86%. The firm had revenue of $779.40 million during the quarter, compared to the consensus estimate of $750.97 million. During the same quarter in the prior year, the business posted $0.75 EPS. Spectrum Brands’s revenue was up 6.0% compared to the same quarter last year. On average, equities analysts forecast that Spectrum Brands will post 4.78 earnings per share for the current year.

Spectrum Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Investors of record on Tuesday, August 27th were paid a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $1.68 annualized dividend and a dividend yield of 1.79%. Spectrum Brands’s dividend payout ratio is presently 3.40%.

Hedge Funds Weigh In On Spectrum Brands

Several hedge funds and other institutional investors have recently made changes to their positions in SPB. Quarry LP boosted its position in shares of Spectrum Brands by 375.0% in the second quarter. Quarry LP now owns 570 shares of the company’s stock valued at $49,000 after acquiring an additional 450 shares during the period. Algert Global LLC acquired a new position in Spectrum Brands in the second quarter valued at about $9,670,000. Dark Forest Capital Management LP raised its stake in Spectrum Brands by 57.2% in the second quarter. Dark Forest Capital Management LP now owns 34,628 shares of the company’s stock valued at $2,976,000 after purchasing an additional 12,600 shares in the last quarter. Armistice Capital LLC raised its stake in Spectrum Brands by 129.4% in the second quarter. Armistice Capital LLC now owns 439,377 shares of the company’s stock valued at $37,756,000 after purchasing an additional 247,809 shares in the last quarter. Finally, Caxton Associates LP raised its stake in Spectrum Brands by 336.6% during the second quarter. Caxton Associates LP now owns 38,832 shares of the company’s stock worth $3,337,000 after acquiring an additional 29,937 shares in the last quarter.

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.