Spectrum Brands (NYSE:SPB) Stock Price Target Lowered at Wells Fargo & Company

Spectrum Brands (NYSE:SPB) had its price objective reduced by Wells Fargo & Company from $90.00 to $85.00 in a research report released on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

SPB has been the subject of a number of other reports. Monness Crespi & Hardt raised their price objective on shares of Spectrum Brands from $86.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Weiss Ratings lowered Spectrum Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded shares of Spectrum Brands from a “hold” rating to a “buy” rating in a research report on Saturday, September 5th. Royal Bank Of Canada cut Spectrum Brands from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $85.00 to $92.00 in a research report on Monday, August 10th. Finally, Canaccord Genuity Group increased their price target on shares of Spectrum Brands from $99.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $98.00.

Spectrum Brands Stock Down 3.1%

NYSE:SPB opened at $75.93 on Monday. The company has a market capitalization of $1.75 billion, a PE ratio of 23.15, a P/E/G ratio of 2.78 and a beta of 0.78. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.61. Spectrum Brands has a 1-year low of $49.99 and a 1-year high of $99.06. The firm’s 50-day moving average price is $86.77 and its 200-day moving average price is $83.10.

Spectrum Brands (NYSE:SPB) last announced its earnings results on Friday, August 7th. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $1.33. The business had revenue of $753.30 million during the quarter, compared to the consensus estimate of $732.19 million. Spectrum Brands had a net margin of 2.76% and a return on equity of 10.06%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.24 earnings per share. On average, equities analysts predict that Spectrum Brands will post 6.38 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, August 25th were paid a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, August 25th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.5%. Spectrum Brands’s dividend payout ratio is 57.32%.

Institutional Investors Weigh In On Spectrum Brands

Institutional investors and hedge funds have recently modified their holdings of the stock. Engineers Gate Manager LP bought a new stake in Spectrum Brands in the 2nd quarter valued at $1,949,000. Integrated Wealth Concepts LLC bought a new position in shares of Spectrum Brands during the 2nd quarter valued at approximately $70,000. Squarepoint Ops LLC grew its holdings in shares of Spectrum Brands by 2.5% in the second quarter. Squarepoint Ops LLC now owns 12,418 shares of the company’s stock valued at $1,065,000 after purchasing an additional 302 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Spectrum Brands by 65.2% in the second quarter. Allworth Financial LP now owns 337 shares of the company’s stock valued at $29,000 after purchasing an additional 133 shares in the last quarter. Finally, Nykredit A S bought a new stake in shares of Spectrum Brands in the 2nd quarter worth about $102,000.

About Spectrum Brands

Spectrum Brands Holdings, Inc is a global consumer products company headquartered in Middleton, Wisconsin. The company develops, markets and distributes branded products for use in homes, gardens and by pet owners, selling through mass retailers, e-commerce channels, specialty stores and other retail outlets in North America and international markets.

Spectrum Brands’ portfolio has historically included home and personal care products under brands such as Remington, Russell Hobbs, George Foreman and Black+Decker, as well as pet care products marketed under brands including Tetra, FURminator, Nature’s Miracle and 8-in-1.