Zacks Investment Research upgraded shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) from a strong sell rating to a hold rating in a research report report published on Tuesday morning.
According to Zacks, “Spectrum Brands, Inc. and its subsidiaries operate as a global branded consumer products company. The Company has three reportable segments: Global Batteries & Personal Care; Global Pet Supplies; and Home and Garden Business. Its operations include the manufacturing and marketing of alkaline, zinc carbon and hearing aid batteries, as well as aquariums and aquatic health supplies and the designing and marketing of rechargeable batteries, battery-powered lighting products, electric shavers and accessories, grooming products and hair care appliances. The Company also provides specialty pet supplies and also herbicides, insecticides and repellents. Its portfolio of brands are Rayovac(R), Remington(R), VARTA(R), Tetra(R), Marineland(R), Nature’s Miracle(R), Dingo(R), 8-in-1(R), Spectracide(R), Cutter(R), Repel(R), and HotShot(R) with manufacturing and product development facilities located in the U.S., Europe, Asia and Latin America. Spectrum Brands, Inc. is headquartered in Atlanta, Georgia. “
A number of other research analysts have also recently commented on SPB. Jefferies Group LLC reissued a buy rating and issued a $143.00 target price on shares of Spectrum Brands Holdings in a research note on Thursday, October 12th. Canaccord Genuity reissued a buy rating on shares of Spectrum Brands Holdings in a research note on Thursday, September 28th. Royal Bank Of Canada set a $155.00 target price on Spectrum Brands Holdings and gave the company a buy rating in a research note on Friday, July 28th. BidaskClub raised Spectrum Brands Holdings from a strong sell rating to a sell rating in a research note on Saturday, August 26th. Finally, BMO Capital Markets reduced their target price on Spectrum Brands Holdings from $155.00 to $140.00 and set an outperform rating on the stock in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $142.29.
Spectrum Brands Holdings (NYSE SPB) traded down 0.01% during midday trading on Tuesday, hitting $110.03. The company had a trading volume of 661,766 shares. The firm has a market capitalization of $6.39 billion, a P/E ratio of 22.53 and a beta of 0.65. The firm’s 50 day moving average is $105.69 and its 200-day moving average is $121.27. Spectrum Brands Holdings has a 52 week low of $101.93 and a 52 week high of $146.09.
Spectrum Brands Holdings (NYSE:SPB) last released its earnings results on Thursday, July 27th. The company reported $1.71 EPS for the quarter, missing the Zacks’ consensus estimate of $1.92 by ($0.21). The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.38 billion. Spectrum Brands Holdings had a net margin of 5.87% and a return on equity of 17.46%. The firm’s revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.73 EPS. On average, equities research analysts expect that Spectrum Brands Holdings will post $5.58 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of SPB. UBS Asset Management Americas Inc. boosted its position in Spectrum Brands Holdings by 37.2% during the first quarter. UBS Asset Management Americas Inc. now owns 108,064 shares of the company’s stock valued at $15,022,000 after buying an additional 29,326 shares during the period. Karp Capital Management Corp purchased a new stake in Spectrum Brands Holdings during the first quarter valued at about $385,000. Envestnet Asset Management Inc. boosted its position in Spectrum Brands Holdings by 18.0% during the first quarter. Envestnet Asset Management Inc. now owns 1,727 shares of the company’s stock valued at $239,000 after buying an additional 264 shares during the period. Victory Capital Management Inc. boosted its position in Spectrum Brands Holdings by 9.4% during the first quarter. Victory Capital Management Inc. now owns 8,991 shares of the company’s stock valued at $1,250,000 after buying an additional 772 shares during the period. Finally, United Services Automobile Association purchased a new stake in Spectrum Brands Holdings during the first quarter valued at about $673,000. Institutional investors and hedge funds own 46.97% of the company’s stock.
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.
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