Spectrum Brands Holdings Inc. (NYSE:SPB) had its price target raised by analysts at Jefferies Group from $157.00 to $160.00 in a research note issued on Thursday. The brokerage currently has a “buy” rating on the stock. Jefferies Group’s price objective points to a potential upside of 18.59% from the stock’s current price.
Several other research firms have also commented on SPB. Zacks Investment Research lowered Spectrum Brands Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, October 11th. Monness Crespi & Hardt boosted their price objective on Spectrum Brands Holdings from $125.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Deutsche Bank AG reiterated a “buy” rating and set a $140.00 price objective (up from $125.00) on shares of Spectrum Brands Holdings in a research note on Sunday, July 24th. Finally, Piper Jaffray Cos. initiated coverage on Spectrum Brands Holdings in a research note on Thursday, September 1st. They set an “overweight” rating and a $147.00 price objective for the company. Eight equities research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus target price of $142.50.
Shares of Spectrum Brands Holdings (NYSE:SPB) opened at 134.92 on Thursday. Spectrum Brands Holdings has a 52 week low of $87.65 and a 52 week high of $138.95. The company’s 50 day moving average price is $132.75 and its 200-day moving average price is $121.79. The company has a market capitalization of $8.01 billion, a price-to-earnings ratio of 27.41 and a beta of 0.65.
Spectrum Brands Holdings (NYSE:SPB) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.04. Spectrum Brands Holdings had a return on equity of 17.79% and a net margin of 5.44%. The company earned $1.36 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the business earned $1.42 EPS. Spectrum Brands Holdings’s quarterly revenue was up 9.1% on a year-over-year basis. Analysts anticipate that Spectrum Brands Holdings will post $0.53 earnings per share for the current fiscal year.
In other Spectrum Brands Holdings news, insider David M. Maura acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were purchased at an average cost of $127.47 per share, for a total transaction of $254,940.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Stacey L. Neu sold 800 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $128.04, for a total value of $102,432.00. Following the completion of the transaction, the senior vice president now owns 3,850 shares in the company, valued at $492,954. The disclosure for this sale can be found here. 0.95% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAM Holding AG acquired a new position in Spectrum Brands Holdings during the second quarter worth approximately $101,000. Fulton Bank N.A. acquired a new position in Spectrum Brands Holdings during the second quarter worth approximately $233,000. Royal Bank of Canada boosted its position in Spectrum Brands Holdings by 272.1% in the first quarter. Royal Bank of Canada now owns 2,173 shares of the company’s stock worth $238,000 after buying an additional 1,589 shares in the last quarter. Legal & General Group Plc boosted its position in Spectrum Brands Holdings by 3.9% in the second quarter. Legal & General Group Plc now owns 2,033 shares of the company’s stock worth $243,000 after buying an additional 77 shares in the last quarter. Finally, Genesee Valley Trust Co. boosted its position in Spectrum Brands Holdings by 9.3% in the second quarter. Genesee Valley Trust Co. now owns 2,064 shares of the company’s stock worth $246,000 after buying an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 45.38% of the company’s stock.
Spectrum Brands Holdings Company Profile
Spectrum Brands Holdings, Inc (SBH) is a diversified consumer products company. The Company operates through five segments: Global Batteries & Appliances, Global Pet Supplies, Home and Garden, Hardware & Home Improvement, and Global Auto Care. The Company’s Global Batteries & Appliances segment includes consumer batteries, small appliances and personal care products.
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