Spectrum Brands (NYSE:SPB) Price Target Raised to $100.00

Spectrum Brands (NYSE:SPBFree Report) had its target price boosted by Royal Bank of Canada from $89.00 to $100.00 in a research note published on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

SPB has been the subject of several other research reports. Monness Crespi & Hardt lifted their price target on Spectrum Brands from $87.00 to $98.00 and gave the company a buy rating in a report on Friday. Canaccord Genuity Group reaffirmed a hold rating and issued a $86.00 price objective (up from $83.00) on shares of Spectrum Brands in a research note on Friday. Wells Fargo & Company lifted their price objective on Spectrum Brands from $75.00 to $85.00 and gave the company an equal weight rating in a research note on Friday. StockNews.com raised Spectrum Brands from a sell rating to a hold rating in a research note on Saturday, December 30th. Finally, Canaccord Genuity Group lowered Spectrum Brands from a buy rating to a hold rating and lifted their price objective for the company from $83.00 to $86.00 in a research note on Friday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Spectrum Brands has an average rating of Hold and an average price target of $88.86.

Check Out Our Latest Research Report on Spectrum Brands

Spectrum Brands Stock Down 0.3 %

SPB opened at $85.86 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.83 and a quick ratio of 3.22. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 1.86, a price-to-earnings-growth ratio of 0.76 and a beta of 1.19. The business has a 50-day moving average of $78.63 and a two-hundred day moving average of $77.47. Spectrum Brands has a 12 month low of $56.69 and a 12 month high of $87.99.

Spectrum Brands (NYSE:SPBGet Free Report) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.31 by $0.47. The company had revenue of $692.20 million during the quarter, compared to analysts’ expectations of $674.20 million. Spectrum Brands had a return on equity of 4.78% and a net margin of 63.89%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.32) EPS. On average, research analysts expect that Spectrum Brands will post 3.81 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.96%. The ex-dividend date is Friday, February 16th. Spectrum Brands’s dividend payout ratio (DPR) is presently 3.65%.

Insider Buying and Selling

In related news, CEO David M. Maura purchased 20,000 shares of Spectrum Brands stock in a transaction that occurred on Monday, November 27th. The shares were purchased at an average cost of $66.41 per share, with a total value of $1,328,200.00. Following the transaction, the chief executive officer now owns 744,391 shares of the company’s stock, valued at approximately $49,435,006.31. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Spectrum Brands news, CEO David M. Maura bought 20,000 shares of the business’s stock in a transaction on Monday, November 27th. The shares were bought at an average cost of $66.41 per share, with a total value of $1,328,200.00. Following the transaction, the chief executive officer now directly owns 744,391 shares in the company, valued at approximately $49,435,006.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ehsan Zargar bought 1,053 shares of the business’s stock in a transaction on Monday, November 27th. The stock was acquired at an average cost of $66.50 per share, for a total transaction of $70,024.50. Following the completion of the transaction, the executive vice president now owns 145,415 shares in the company, valued at $9,670,097.50. The disclosure for this purchase can be found here. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Spectrum Brands

A number of institutional investors have recently made changes to their positions in SPB. Larson Financial Group LLC raised its position in shares of Spectrum Brands by 72.6% in the 4th quarter. Larson Financial Group LLC now owns 359 shares of the company’s stock valued at $29,000 after purchasing an additional 151 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Spectrum Brands by 1,713.6% in the 4th quarter. International Assets Investment Management LLC now owns 399 shares of the company’s stock valued at $32,000 after acquiring an additional 377 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Spectrum Brands by 53.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the company’s stock valued at $36,000 after acquiring an additional 160 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Spectrum Brands by 31.7% in the 1st quarter. Captrust Financial Advisors now owns 503 shares of the company’s stock valued at $45,000 after acquiring an additional 121 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Spectrum Brands by 34.6% in the 2nd quarter. CWM LLC now owns 689 shares of the company’s stock valued at $54,000 after acquiring an additional 177 shares during the last quarter.

Spectrum Brands Company Profile

(Get Free Report)

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.

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Analyst Recommendations for Spectrum Brands (NYSE:SPB)

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