Royal Bank of Canada Issues Pessimistic Forecast for Spectrum Brands (NYSE:SPB) Stock Price

Spectrum Brands (NYSE:SPB) had its price target reduced by Royal Bank of Canada from $114.00 to $110.00 in a report released on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

SPB has been the subject of several other reports. Wedbush upgraded shares of Spectrum Brands from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $6.00 to $10.00 in a report on Friday. Wells Fargo & Company decreased their price objective on shares of Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Canaccord Genuity Group raised shares of Spectrum Brands from a “hold” rating to a “buy” rating and boosted their target price for the company from $94.00 to $102.00 in a research note on Friday. Finally, UBS Group decreased their target price on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Spectrum Brands presently has an average rating of “Moderate Buy” and an average target price of $91.11.

Spectrum Brands Trading Up 2.3 %

Shares of NYSE:SPB opened at $78.19 on Friday. 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 stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.36 and a beta of 1.20. Spectrum Brands has a 1-year low of $75.94 and a 1-year high of $96.74. The company has a 50 day moving average price of $86.57 and a 200 day moving average price of $89.04.

Spectrum Brands (NYSE:SPB) last issued its earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the business posted $0.78 EPS. On average, research analysts anticipate that Spectrum Brands will post 5.17 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

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

Hedge Funds Weigh In On Spectrum Brands

Hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in Spectrum Brands by 5.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,120,102 shares of the company’s stock worth $201,707,000 after acquiring an additional 112,530 shares in the last quarter. Pzena Investment Management LLC lifted its stake in shares of Spectrum Brands by 1.7% in the 4th 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 during the last quarter. State Street Corp boosted its holdings in Spectrum Brands by 1.3% in the third quarter. State Street Corp now owns 590,222 shares of the company’s stock worth $56,154,000 after purchasing an additional 7,783 shares in the last quarter. Wellington Management Group LLP increased its position in Spectrum Brands by 7.6% during the third quarter. Wellington Management Group LLP now owns 513,025 shares of the company’s stock worth $48,809,000 after buying an additional 36,063 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Spectrum Brands by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company’s stock worth $38,089,000 after buying an additional 7,198 shares during 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.