Wells Fargo & Company reaffirmed their outperform rating on shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) in a research report sent to investors on Tuesday, October 31st, MarketBeat Ratings reports. They currently have a $125.00 price target on the stock, down from their previous price target of $147.00.
“We are buyers on weakness and believe that L.T. growth ops and strong free cash flow (FCF) make SPB a core holding in broader Staples. SPB has lagged over the past 6m (-33% vs. the S&P500), owing to concerns around inventory destocking, category risk and that HRG’s ongoing strategic review process will result in a sub- optimal outcome for SPB shareholders. We think this presents opportunity as the market underappreciates: (1) SPB’s proven topline track record (12% 6yr CAGR thru ’16), including opportunistic M&A and above-category organic sales growth (we est. ~2-3% annually going forward) and (2) Best in class FCF conversion of 120-130%e over the L.T. via disciplined working capital and low capex (capex ~2% of sales).”,” the firm’s analyst wrote.
A number of other equities analysts have also recently issued reports on SPB. Jefferies Group LLC set a $143.00 target price on shares of Spectrum Brands Holdings and gave the stock a buy rating in a report on Saturday, July 29th. Zacks Investment Research cut Spectrum Brands Holdings from a hold rating to a sell rating in a report on Saturday, July 8th. Deutsche Bank AG reissued a buy rating and set a $131.00 target price (down previously from $149.00) on shares of Spectrum Brands Holdings in a report on Monday, July 31st. Oppenheimer Holdings, Inc. restated a buy rating and issued a $167.00 price target on shares of Spectrum Brands Holdings in a research report on Wednesday, August 30th. Finally, BidaskClub upgraded shares of Spectrum Brands Holdings from a strong sell rating to a sell rating in a research report on Saturday, August 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Spectrum Brands Holdings has an average rating of Buy and a consensus target price of $137.25.
Shares of Spectrum Brands Holdings (SPB) traded up $2.89 during trading on Tuesday, hitting $112.39. The company’s stock had a trading volume of 1,058,934 shares, compared to its average volume of 686,628. The company has a current ratio of 1.44, a quick ratio of 0.75 and a debt-to-equity ratio of 2.06. The stock has a market cap of $6,476.59, a price-to-earnings ratio of 20.58, a PEG ratio of 1.78 and a beta of 0.75. Spectrum Brands Holdings has a one year low of $98.11 and a one year high of $146.09.
Spectrum Brands Holdings (NYSE:SPB) last released its quarterly earnings data on Thursday, November 16th. The company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.12). The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Spectrum Brands Holdings had a net margin of 5.91% and a return on equity of 17.48%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $1.31 earnings per share. analysts forecast that Spectrum Brands Holdings will post 6.29 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Tuesday, November 28th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, November 27th. This represents a $1.68 annualized dividend and a yield of 1.49%. Spectrum Brands Holdings’s dividend payout ratio is 33.33%.
Several hedge funds have recently made changes to their positions in SPB. BlackRock Inc. lifted its holdings in Spectrum Brands Holdings by 5,054.7% in the first quarter. BlackRock Inc. now owns 1,208,769 shares of the company’s stock valued at $168,030,000 after buying an additional 1,185,319 shares during the period. Check Capital Management Inc. CA raised its holdings in Spectrum Brands Holdings by 173.8% in the third quarter. Check Capital Management Inc. CA now owns 759,562 shares of the company’s stock worth $80,453,000 after purchasing an additional 482,162 shares during the period. Rovida Advisors Inc. bought a new stake in shares of Spectrum Brands Holdings during the third quarter worth $21,081,000. Schroder Investment Management Group increased its position in shares of Spectrum Brands Holdings by 29.7% during the second quarter. Schroder Investment Management Group now owns 812,903 shares of the company’s stock worth $101,084,000 after acquiring an additional 186,285 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Spectrum Brands Holdings by 18.2% during the second quarter. Bessemer Group Inc. now owns 1,048,499 shares of the company’s stock worth $131,105,000 after acquiring an additional 161,567 shares in the last quarter. Institutional investors own 47.13% of the company’s stock.
Spectrum Brands Holdings Company Profile
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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