Monness Crespi & Hardt Raises Spectrum Brands (NYSE:SPB) Price Target to $106.00

Spectrum Brands (NYSE:SPB) had its price target hoisted by research analysts at Monness Crespi & Hardt from $98.00 to $106.00 in a report issued on Friday, Briefing.com reports. The brokerage presently has a “buy” rating on the stock. Monness Crespi & Hardt’s target price points to a potential upside of 12.04% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of Spectrum Brands from $89.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Wells Fargo & Company raised their price target on Spectrum Brands from $75.00 to $85.00 and gave the stock 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 upped their price objective for the stock from $83.00 to $86.00 in a research note on Friday, February 9th. Finally, Canaccord Genuity Group reissued 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. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $92.60.

Spectrum Brands Price Performance

Shares of NYSE SPB opened at $94.61 on Friday. The company has a current ratio of 3.36, a quick ratio of 2.75 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 2.05, a price-to-earnings-growth ratio of 0.59 and a beta of 1.20. Spectrum Brands has a twelve month low of $65.27 and a twelve month high of $95.27. The business has a 50 day simple moving average of $83.58 and a 200-day simple moving average of $79.58.

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

Hedge Funds Weigh In On Spectrum Brands

Large investors have recently bought and sold shares of the stock. Raymond James & Associates acquired a new position in Spectrum Brands during the third quarter worth about $266,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Spectrum Brands by 31.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,863 shares of the company’s stock valued at $538,000 after acquiring an additional 1,643 shares during the last quarter. Wakefield Asset Management LLLP bought a new stake in shares of Spectrum Brands during the 3rd quarter worth $726,000. Duality Advisers LP acquired a new stake in shares of Spectrum Brands during the third quarter worth $238,000. Finally, Principal Financial Group Inc. raised its position in shares of Spectrum Brands by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,156 shares of the company’s stock worth $247,000 after purchasing an additional 166 shares during the period.

Spectrum Brands Company Profile

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.