Spectrum Brands (NYSE:SPB) Sets New 52-Week High – What’s Next?

Spectrum Brands Holdings, Inc. (NYSE:SPB) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $97.20 and last traded at $97.20, with a volume of 654 shares traded. The stock had previously closed at $95.89.

Analyst Ratings Changes

Separately, Canaccord Genuity Group raised their target price on Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a report on Monday, November 18th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $102.38.

Spectrum Brands Trading Up 1.4 %

The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 23.50, a P/E/G ratio of 1.65 and a beta of 1.19. The business’s fifty day simple moving average is $91.55 and its 200 day simple moving average is $89.68. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.30 and a quick ratio of 1.62.

Spectrum Brands (NYSE:SPB) last posted its earnings results on Friday, November 15th. The company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.16). The firm had revenue of $773.70 million during the quarter, compared to the consensus estimate of $747.80 million. Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. Spectrum Brands’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the company posted $1.36 EPS. On average, research analysts predict that Spectrum Brands Holdings, Inc. will post 5.25 EPS 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 paid a $0.47 dividend. This is a positive change from Spectrum Brands’s previous quarterly dividend of $0.42. The ex-dividend date is Tuesday, November 26th. This represents a $1.88 dividend on an annualized basis and a yield of 1.93%. Spectrum Brands’s dividend payout ratio (DPR) is currently 46.08%.

Institutional Investors Weigh In On Spectrum Brands

Several hedge funds have recently bought and sold shares of SPB. Waldron Private Wealth LLC purchased a new stake in Spectrum Brands in the 3rd quarter worth approximately $27,000. Brooklyn Investment Group acquired a new position in shares of Spectrum Brands in the third quarter worth $31,000. International Assets Investment Management LLC raised its holdings in shares of Spectrum Brands by 9,420.0% during the third 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. Quarry LP boosted its position in Spectrum Brands by 375.0% during the second quarter. Quarry LP now owns 570 shares of the company’s stock valued at $49,000 after purchasing an additional 450 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in Spectrum Brands in the second quarter valued at about $50,000.

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.