Spectrum Brands (NYSE:SPB) Reaches New 52-Week Low – Here’s Why

Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) reached a new 52-week low during trading on Tuesday . The stock traded as low as $73.12 and last traded at $73.71, with a volume of 43252 shares changing hands. The stock had previously closed at $74.99.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SPB shares. Royal Bank of Canada lowered their price target on shares of Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Canaccord Genuity Group upgraded Spectrum Brands from a “hold” rating to a “buy” rating and increased their target price for the company from $94.00 to $102.00 in a report on Friday, February 7th. Wells Fargo & Company decreased their price target on Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Finally, UBS Group cut their target price on shares of Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Spectrum Brands has a consensus rating of “Moderate Buy” and an average price target of $103.43.

Spectrum Brands Price Performance

The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average price is $82.17 and its two-hundred day moving average price is $88.19. The stock has a market cap of $1.95 billion, a P/E ratio of 18.19, a price-to-earnings-growth ratio of 1.70 and a beta of 1.20.

Spectrum Brands (NYSE:SPB) last announced its earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. During the same period last year, the company posted $0.78 earnings per share. As a group, sell-side analysts expect that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Tuesday, February 18th. Spectrum Brands’s dividend payout ratio is presently 46.19%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SPB. Pzena Investment Management LLC increased its stake in shares of Spectrum Brands by 1.7% during the fourth 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 in the last quarter. State Street Corp raised its stake in Spectrum Brands by 1.3% during the third quarter. State Street Corp now owns 590,222 shares of the company’s stock valued at $56,154,000 after buying an additional 7,783 shares during the last quarter. Callodine Capital Management LP boosted its holdings in Spectrum Brands by 29.8% in the fourth quarter. Callodine Capital Management LP now owns 527,500 shares of the company’s stock worth $44,568,000 after acquiring an additional 121,000 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Spectrum Brands by 7.6% in the third quarter. Wellington Management Group LLP now owns 513,025 shares of the company’s stock worth $48,809,000 after acquiring an additional 36,063 shares during the last quarter. Finally, FIL Ltd increased its holdings in shares of Spectrum Brands by 8.7% during the fourth quarter. FIL Ltd now owns 461,568 shares of the company’s stock valued at $38,998,000 after acquiring an additional 36,798 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.