Spectrum Brands (NYSE:SPB) Hits New 12-Month High at $93.18

Spectrum Brands Holdings, Inc. (NYSE:SPB)’s share price hit a new 52-week high on Thursday . The stock traded as high as $93.18 and last traded at $92.00, with a volume of 111013 shares changing hands. The stock had previously closed at $84.52.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Royal Bank of Canada lifted their target price on Spectrum Brands from $89.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Canaccord Genuity Group reiterated a “hold” rating and set a $86.00 price target (up previously from $83.00) on shares of Spectrum Brands in a report on Friday, February 9th. Wells Fargo & Company lifted their price target on Spectrum Brands from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Canaccord Genuity Group downgraded Spectrum Brands from a “buy” rating to a “hold” rating and lifted their price target for the company from $83.00 to $86.00 in a report on Friday, February 9th. Finally, Monness Crespi & Hardt lifted their price target on Spectrum Brands from $87.00 to $98.00 and gave the company a “buy” rating in a report on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Spectrum Brands currently has a consensus rating of “Hold” and an average price target of $91.00.

Spectrum Brands Stock Performance

The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 2.06, a PEG ratio of 0.59 and a beta of 1.20. The firm has a fifty day simple moving average of $83.30 and a 200 day simple moving average of $79.47. The company has a current ratio of 3.36, a quick ratio of 2.75 and a debt-to-equity ratio of 0.60.

Spectrum Brands (NYSE:SPB) last issued its earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, beating 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 net margin of 63.89% and a return on equity of 4.66%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.32) EPS. As a group, sell-side analysts expect that Spectrum Brands Holdings, Inc. will post 3.79 earnings per share for the current year.

Hedge Funds Weigh In On Spectrum Brands

A number of large investors have recently modified their holdings of SPB. Allspring Global Investments Holdings LLC raised its stake in shares of Spectrum Brands by 1.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,207,061 shares of the company’s stock worth $172,923,000 after buying an additional 37,810 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Spectrum Brands by 21.7% in the first quarter. Pzena Investment Management LLC now owns 1,315,483 shares of the company’s stock valued at $117,091,000 after buying an additional 234,784 shares during the period. Alberta Investment Management Corp boosted its holdings in shares of Spectrum Brands by 7.9% in the fourth quarter. Alberta Investment Management Corp now owns 748,700 shares of the company’s stock valued at $59,724,000 after buying an additional 55,100 shares during the period. LSV Asset Management boosted its holdings in Spectrum Brands by 68.9% during the first quarter. LSV Asset Management now owns 745,680 shares of the company’s stock worth $66,373,000 after purchasing an additional 304,217 shares during the last quarter. Finally, Great Lakes Advisors LLC lifted its stake in Spectrum Brands by 50.0% in the fourth quarter. Great Lakes Advisors LLC now owns 324,413 shares of the company’s stock valued at $25,878,000 after acquiring an additional 108,076 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.