Zacks Investment Research upgraded shares of Spectrum Brands Holdings Inc. (NYSE:SPB) from a hold rating to a buy rating in a report issued on Thursday. The brokerage currently has $153.00 price target on the stock.
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. “
SPB has been the topic of a number of other reports. Piper Jaffray Cos. began coverage on shares of Spectrum Brands Holdings in a research report on Thursday, September 1st. They set an overweight rating and a $147.00 price target on the stock. Deutsche Bank AG reissued a buy rating and set a $140.00 price target (up from $125.00) on shares of Spectrum Brands Holdings in a research report on Sunday, July 24th. Jefferies Group reissued a buy rating and set a $143.00 price target on shares of Spectrum Brands Holdings in a research report on Wednesday, June 22nd. Finally, Monness Crespi & Hardt raised their price target on shares of Spectrum Brands Holdings from $125.00 to $138.00 and gave the company a buy rating in a research report on Friday, July 29th. Eight equities research analysts have rated the stock with a buy rating, The company presently has a consensus rating of Buy and an average price target of $142.33.
Shares of Spectrum Brands Holdings (NYSE:SPB) opened at 135.26 on Thursday. The stock’s 50 day moving average is $131.96 and its 200-day moving average is $120.52. The company has a market cap of $8.03 billion, a P/E ratio of 27.48 and a beta of 0.65. Spectrum Brands Holdings has a one year low of $87.65 and a one year high of $138.95.
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, beating analysts’ consensus estimates of $1.69 by $0.04. Spectrum Brands Holdings had a net margin of 5.44% and a return on equity of 17.79%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the firm earned $1.42 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. Equities research analysts forecast that Spectrum Brands Holdings will post $0.53 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Tuesday, August 16th were paid a $0.38 dividend. The ex-dividend date was Friday, August 12th. This represents a $1.52 annualized dividend and a dividend yield of 1.12%. Spectrum Brands Holdings’s payout ratio is 32.69%.
In other news, SVP Stacey L. Neu sold 800 shares of Spectrum Brands Holdings stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David M. Maura bought 2,000 shares of Spectrum Brands Holdings stock in a transaction dated Thursday, September 15th. The stock was acquired at an average price 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 currently owned by insiders.
Several institutional investors have recently bought and sold shares of SPB. GAM Holding AG purchased a new position in shares of Spectrum Brands Holdings during the second quarter valued at approximately $101,000. Legal & General Group Plc boosted its position in shares of Spectrum Brands Holdings by 29.5% in the first quarter. Legal & General Group Plc now owns 1,956 shares of the company’s stock valued at $214,000 after buying an additional 446 shares in the last quarter. Fulton Bank N.A. purchased a new position in shares of Spectrum Brands Holdings during the second quarter valued at approximately $233,000. Royal Bank of Canada boosted its position in shares of Spectrum Brands Holdings by 272.1% in the first quarter. Royal Bank of Canada now owns 2,173 shares of the company’s stock valued at $238,000 after buying an additional 1,589 shares in the last quarter. Finally, Genesee Valley Trust Co. boosted its position in shares of Spectrum Brands Holdings by 9.3% in the second quarter. Genesee Valley Trust Co. now owns 2,064 shares of the company’s stock valued at $246,000 after buying an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 45.41% 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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