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 equities research analysts also recently commented on the company. Jefferies Group reaffirmed a buy rating on shares of Spectrum Brands Holdings in a research report on Thursday, August 25th. Monness Crespi & Hardt lifted their price objective on Spectrum Brands Holdings from $125.00 to $138.00 and gave the company a buy rating in a research report on Friday, July 29th. Deutsche Bank AG reaffirmed a buy rating and issued a $140.00 price objective (up previously from $125.00) on shares of Spectrum Brands Holdings in a research report on Sunday, July 24th. Finally, Piper Jaffray Cos. assumed coverage on Spectrum Brands Holdings in a research report on Thursday, September 1st. They issued an overweight rating and a $147.00 price objective for the company. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of Buy and an average price target of $142.83.
Shares of Spectrum Brands Holdings (NYSE:SPB) opened at 134.26 on Tuesday. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of 27.28 and a beta of 0.65. Spectrum Brands Holdings has a 52-week low of $87.65 and a 52-week high of $138.95. The firm has a 50-day moving average price of $132.68 and a 200-day moving average price of $121.58.
Spectrum Brands Holdings (NYSE:SPB) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.73 earnings per share for the quarter, topping the Zacks’ 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 analysts’ expectations of $1.36 billion. During the same period in the previous year, the firm posted $1.42 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts predict that Spectrum Brands Holdings will post $0.53 EPS for the current fiscal year.
In other news, SVP Stacey L. Neu sold 800 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $128.04, for a total value of $102,432.00. Following the completion of the sale, the senior vice president now owns 3,850 shares of the company’s stock, valued at $492,954. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David M. Maura bought 2,000 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was bought at an average cost of $127.47 per share, with a total value of $254,940.00. The disclosure for this purchase can be found here. 0.95% of the stock is owned by insiders.
Several large investors have recently modified their holdings of SPB. JPMorgan Chase & Co. increased its stake in shares of Spectrum Brands Holdings by 10.9% in the first quarter. JPMorgan Chase & Co. now owns 1,105,965 shares of the company’s stock valued at $120,860,000 after buying an additional 108,842 shares during the last quarter. Alpine Partners VI LLC bought a new stake in shares of Spectrum Brands Holdings during the first quarter valued at $1,226,000. Credit Agricole S A increased its stake in shares of Spectrum Brands Holdings by 542.6% in the first quarter. Credit Agricole S A now owns 393,711 shares of the company’s stock valued at $43,025,000 after buying an additional 332,446 shares during the last quarter. State Street Corp increased its stake in shares of Spectrum Brands Holdings by 4.1% in the first quarter. State Street Corp now owns 340,232 shares of the company’s stock valued at $37,182,000 after buying an additional 13,338 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of Spectrum Brands Holdings by 117.5% in the first quarter. UBS Group AG now owns 8,779 shares of the company’s stock valued at $960,000 after buying an additional 4,742 shares during the last quarter. 45.41% of the stock is owned by institutional investors.
About Spectrum Brands Holdings
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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