Zacks Investment Research upgraded shares of Spectrum Brands Holdings Inc. (NYSE:SPB) from a hold rating to a buy rating in a report released on Saturday. Zacks Investment Research currently has $151.00 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. “
A number of other brokerages have also recently commented on SPB. Jefferies Group restated a buy rating and issued a $143.00 price target on shares of Spectrum Brands Holdings in a research report on Wednesday, June 22nd. Deutsche Bank AG restated a buy rating and issued a $140.00 price target (up previously from $125.00) on shares of Spectrum Brands Holdings in a research report on Sunday, July 24th. Monness Crespi & Hardt upped their price target on Spectrum Brands Holdings from $125.00 to $138.00 and gave the stock a buy rating in a research report on Friday, July 29th. Finally, Piper Jaffray Cos. began coverage on Spectrum Brands Holdings in a research report on Thursday, September 1st. They issued an overweight rating and a $147.00 price target for the company. Eight analysts have rated the stock with a buy rating, The company has an average rating of Buy and an average price target of $142.50.
Spectrum Brands Holdings (NYSE:SPB) opened at 134.92 on Friday. Spectrum Brands Holdings has a one year low of $87.65 and a one year 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 stock has a market capitalization of $8.01 billion, a PE 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, beating analysts’ consensus estimates of $1.69 by $0.04. The company earned $1.36 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Spectrum Brands Holdings had a return on equity of 17.79% and a net margin of 5.44%. Spectrum Brands Holdings’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.42 earnings per share. Analysts expect that Spectrum Brands Holdings will post $0.53 earnings per share for the current year.
In related news, SVP Stacey L. Neu sold 800 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $128.04, for a total transaction of $102,432.00. Following the completion of the transaction, the senior vice president now directly owns 3,850 shares of the company’s stock, valued at $492,954. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider David M. Maura purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were purchased 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.
A number of institutional investors have recently made changes to their positions in the stock. GAM Holding AG purchased a new position in shares of Spectrum Brands Holdings during the second quarter worth approximately $101,000. Fulton Bank N.A. purchased a new position in shares of Spectrum Brands Holdings during the second quarter worth approximately $233,000. Royal Bank of Canada raised 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 worth $238,000 after buying an additional 1,589 shares during the last quarter. Legal & General Group Plc raised its position in shares of 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 during the last quarter. Finally, Genesee Valley Trust Co. raised 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 worth $246,000 after buying an additional 176 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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