Spectrum Brands Holdings, Inc. (NYSE:SPB) Receives Consensus Recommendation of “Hold” from Brokerages

Spectrum Brands Holdings, Inc. (NYSE:SPB) has been given an average recommendation of “Hold” by the five ratings firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $89.17.

A number of analysts recently commented on the company. Monness Crespi & Hardt increased their price target on Spectrum Brands from $87.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Royal Bank of Canada increased their price target on Spectrum Brands from $89.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Canaccord Genuity Group downgraded Spectrum Brands from a “buy” rating to a “hold” rating and increased their price target for the company from $83.00 to $86.00 in a research report on Friday, February 9th. Wells Fargo & Company increased their price target on Spectrum Brands from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $86.00 target price (up from $83.00) on shares of Spectrum Brands in a research report on Friday, February 9th.

Spectrum Brands Price Performance

Shares of NYSE:SPB opened at $81.87 on Friday. The business’s 50 day simple moving average is $82.85 and its two-hundred day simple moving average is $79.20. The firm has a market cap of $2.48 billion, a P/E ratio of 1.78, a PEG ratio of 0.57 and a beta of 1.20. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.75 and a current ratio of 3.36. Spectrum Brands has a 52-week low of $64.82 and a 52-week high of $89.64.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.47. The business had revenue of $692.20 million for the quarter, compared to analyst estimates of $674.20 million. Spectrum Brands had a return on equity of 4.66% and a net margin of 63.89%. The company’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.32) earnings per share. As a group, research analysts forecast that Spectrum Brands will post 3.79 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.68 dividend on an annualized basis and a yield of 2.05%. Spectrum Brands’s dividend payout ratio is currently 3.65%.

Institutional Investors Weigh In On Spectrum Brands

A number of institutional investors and hedge funds have recently bought and sold shares of SPB. Larson Financial Group LLC grew its position in shares of Spectrum Brands by 72.6% during the fourth quarter. Larson Financial Group LLC now owns 359 shares of the company’s stock valued at $29,000 after purchasing an additional 151 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Spectrum Brands by 1.4% during the third quarter. Arizona State Retirement System now owns 11,675 shares of the company’s stock valued at $915,000 after buying an additional 158 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Spectrum Brands by 53.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the company’s stock valued at $36,000 after purchasing an additional 160 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Spectrum Brands by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,156 shares of the company’s stock valued at $247,000 after purchasing an additional 166 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in Spectrum Brands by 0.8% in the third quarter. GSA Capital Partners LLP now owns 27,453 shares of the company’s stock valued at $2,151,000 after purchasing an additional 226 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.