Spectrum Brands (NYSE:SPB) Price Target Raised to $94.00

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

Several other research analysts have also issued reports on SPB. Deutsche Bank Aktiengesellschaft increased their target price on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Wells Fargo & Company increased their price objective on Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a 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 company a “buy” rating in a report on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $102.38.

Spectrum Brands Stock Performance

Shares of SPB stock opened at $88.94 on Monday. The company has a quick ratio of 1.61, a current ratio of 2.30 and a debt-to-equity ratio of 0.26. The stock has a fifty day moving average of $91.50 and a 200 day moving average of $89.62. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 0.25 and a beta of 1.23. Spectrum Brands has a 52 week low of $65.27 and a 52 week high of $96.74.

Spectrum Brands (NYSE:SPB) last announced its earnings results 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 company had revenue of $773.70 million for the quarter, compared to the consensus estimate of $747.80 million. During the same period in the previous year, the firm posted $1.36 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, research analysts expect that Spectrum Brands will post 6.12 earnings per share for the current year.

Spectrum Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th will be issued a $0.47 dividend. This is a positive change from Spectrum Brands’s previous quarterly dividend of $0.42. This represents a $1.88 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Tuesday, November 26th. Spectrum Brands’s payout ratio is presently 46.08%.

Institutional Investors Weigh In On Spectrum Brands

Several institutional investors have recently modified their holdings of SPB. Waldron Private Wealth LLC purchased a new position in shares of Spectrum Brands in the 3rd quarter worth $27,000. Brooklyn Investment Group bought a new position in shares of Spectrum Brands in the third quarter worth about $31,000. Versant Capital Management Inc lifted its position in shares of Spectrum Brands by 1,923.8% during the 2nd quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock valued at $37,000 after buying an additional 404 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Spectrum Brands during the 1st quarter valued at approximately $42,000. Finally, International Assets Investment Management LLC increased its holdings in Spectrum Brands by 9,420.0% in the 3rd quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock worth $45,000 after acquiring an additional 471 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.