Royal Bank of Canada Cuts Spectrum Brands (NYSE:SPB) Price Target to $110.00

Spectrum Brands (NYSE:SPB) had its price objective cut by equities researchers at Royal Bank of Canada from $114.00 to $110.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 40.69% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. UBS Group reduced their price target on shares of Spectrum Brands from $114.00 to $109.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Wedbush raised Spectrum Brands from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $6.00 to $10.00 in a research note on Friday. Canaccord Genuity Group raised Spectrum Brands from a “hold” rating to a “buy” rating and lifted their target price for the stock from $94.00 to $102.00 in a report on Friday. Finally, Wells Fargo & Company cut their price target on shares of Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Spectrum Brands currently has an average rating of “Moderate Buy” and a consensus target price of $91.11.

Spectrum Brands Stock Performance

NYSE:SPB traded up $1.73 during mid-day trading on Friday, hitting $78.19. The stock had a trading volume of 535,585 shares, compared to its average volume of 439,099. Spectrum Brands has a 52 week low of $75.94 and a 52 week high of $96.74. The company has a current ratio of 2.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 1.51 and a beta of 1.20. The company has a 50 day simple moving average of $86.57 and a 200-day simple moving average of $89.04.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. During the same period last year, the business posted $0.78 earnings per share. On average, research analysts expect that Spectrum Brands will post 5.17 earnings per share for the current fiscal year.

Institutional Trading of Spectrum Brands

Institutional investors and hedge funds have recently made changes to their positions in the stock. Anchor Capital Advisors LLC boosted its holdings in shares of Spectrum Brands by 1.2% during the 4th quarter. Anchor Capital Advisors LLC now owns 15,596 shares of the company’s stock worth $1,318,000 after buying an additional 184 shares during the period. Legato Capital Management LLC increased its stake in shares of Spectrum Brands by 2.2% in the fourth quarter. Legato Capital Management LLC now owns 9,299 shares of the company’s stock worth $786,000 after purchasing an additional 198 shares during the period. Farther Finance Advisors LLC grew its holdings in Spectrum Brands by 92.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 544 shares of the company’s stock valued at $52,000 after buying an additional 261 shares during the last quarter. Waldron Private Wealth LLC bought a new position in Spectrum Brands in the 3rd quarter worth approximately $27,000. Finally, Brooklyn Investment Group acquired a new position in shares of Spectrum Brands during the third quarter worth approximately $31,000.

Spectrum Brands Company Profile

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.