Wells Fargo & Company restated their buy rating on shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) in a research report sent to investors on Thursday.
Other analysts have also recently issued reports about the company. Jefferies Group LLC set a $154.00 price target on Spectrum Brands Holdings and gave the stock a buy rating in a report on Saturday, November 19th. Bank of America Corp cut Spectrum Brands Holdings from a buy rating to a neutral rating and reduced their price target for the stock from $135.00 to $130.00 in a report on Tuesday, January 10th. BMO Capital Markets assumed coverage on Spectrum Brands Holdings in a report on Friday, December 16th. They set an outperform rating and a $147.00 price target on the stock. Zacks Investment Research upgraded Spectrum Brands Holdings from a hold rating to a buy rating and set a $151.00 price target on the stock in a report on Saturday, October 15th. Finally, Monness Crespi & Hardt boosted their price target on Spectrum Brands Holdings from $138.00 to $151.00 and gave the stock a buy rating in a report on Thursday, September 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. Spectrum Brands Holdings currently has an average rating of Buy and an average target price of $147.71.
Spectrum Brands Holdings (NYSE:SPB) traded down 0.18% during mid-day trading on Thursday, reaching $132.53. The company had a trading volume of 319,065 shares. The firm’s 50-day moving average is $122.16 and its 200-day moving average is $127.29. Spectrum Brands Holdings has a one year low of $89.54 and a one year high of $138.95. The firm has a market capitalization of $7.87 billion, a P/E ratio of 22.13 and a beta of 0.65.
Spectrum Brands Holdings (NYSE:SPB) last released its earnings results on Thursday, January 26th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.05. Spectrum Brands Holdings had a return on equity of 17.80% and a net margin of 6.74%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the business posted $1.01 earnings per share. The business’s revenue for the quarter was down .7% on a year-over-year basis. On average, equities research analysts anticipate that Spectrum Brands Holdings will post $5.81 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 7th. Investors of record on Tuesday, February 14th will be paid a $0.42 dividend. This is a positive change from Spectrum Brands Holdings’s previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, February 10th. Spectrum Brands Holdings’s payout ratio is currently 26.67%.
A number of institutional investors have recently modified their holdings of the stock. FMR LLC raised its position in shares of Spectrum Brands Holdings by 42.5% in the second quarter. FMR LLC now owns 2,707,671 shares of the company’s stock valued at $323,052,000 after buying an additional 806,895 shares during the period. Vanguard Group Inc. raised its position in shares of Spectrum Brands Holdings by 3.0% in the second quarter. Vanguard Group Inc. now owns 1,907,356 shares of the company’s stock valued at $227,566,000 after buying an additional 55,451 shares during the period. JPMorgan Chase & Co. raised its position in shares of Spectrum Brands Holdings by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 1,180,047 shares of the company’s stock valued at $162,479,000 after buying an additional 47,019 shares during the period. Bessemer Group Inc. raised its position in shares of Spectrum Brands Holdings by 7.7% in the second quarter. Bessemer Group Inc. now owns 973,027 shares of the company’s stock valued at $116,092,000 after buying an additional 69,462 shares during the period. Finally, Acadian Asset Management LLC raised its position in shares of Spectrum Brands Holdings by 55.1% in the third quarter. Acadian Asset Management LLC now owns 777,402 shares of the company’s stock valued at $107,039,000 after buying an additional 276,072 shares during the period. 45.98% of the stock is currently owned by hedge funds and other institutional investors.
About Spectrum Brands Holdings
Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.