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

Spectrum Brands Holdings, Inc. (NYSE:SPB) reached a new 52-week low on Tuesday . The company traded as low as $73.05 and last traded at $73.38, with a volume of 59843 shares. The stock had previously closed at $74.22.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Canaccord Genuity Group raised shares of Spectrum Brands from a “hold” rating to a “buy” rating and boosted their target price for the stock from $94.00 to $102.00 in a research note on Friday, February 7th. Royal Bank of Canada reduced their price objective on shares of Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Wells Fargo & Company reduced their price objective on shares of 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 reduced their price objective on shares of Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a research note 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.43.

Spectrum Brands Stock Down 2.5 %

The firm’s fifty day moving average price is $80.67 and its two-hundred day moving average price is $87.38. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 1.70 and a beta of 1.20. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.53.

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

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.47 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.88 annualized dividend and a dividend yield of 2.67%. Spectrum Brands’s dividend payout ratio is currently 46.19%.

Institutional Investors Weigh In On Spectrum Brands

A number of institutional investors and hedge funds have recently made changes to their positions in SPB. Farther Finance Advisors LLC raised its holdings in shares of Spectrum Brands by 92.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 544 shares of the company’s stock worth $52,000 after acquiring an additional 261 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Spectrum Brands by 6.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 8,316 shares of the company’s stock worth $791,000 after acquiring an additional 516 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Spectrum Brands by 1.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 21,477 shares of the company’s stock worth $2,043,000 after acquiring an additional 345 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Spectrum Brands by 120.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,143 shares of the company’s stock worth $109,000 after acquiring an additional 625 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Spectrum Brands by 6.4% in the 3rd quarter. Victory Capital Management Inc. now owns 21,055 shares of the company’s stock worth $2,003,000 after acquiring an additional 1,273 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.