Spectrum Brands (NYSE:SPB) Sets New 1-Year Low After Analyst Downgrade

Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) reached a new 52-week low during trading on Thursday after Wells Fargo & Company lowered their price target on the stock from $80.00 to $75.00. Wells Fargo & Company currently has an equal weight rating on the stock. Spectrum Brands traded as low as $67.21 and last traded at $67.46, with a volume of 56921 shares traded. The stock had previously closed at $71.41.

A number of other equities analysts have also recently commented on the company. Canaccord Genuity Group raised Spectrum Brands from a “hold” rating to a “buy” rating and increased their target price for the company from $94.00 to $102.00 in a report on Friday, February 7th. UBS Group reduced their price objective on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, Royal Bank of Canada lowered their target price on shares of Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.57.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP purchased a new position in Spectrum Brands during the third quarter worth about $62,000. Glenmede Trust Co. NA purchased a new stake in shares of Spectrum Brands during the 3rd quarter valued at approximately $207,000. Centiva Capital LP acquired a new position in Spectrum Brands in the third quarter valued at approximately $383,000. Point72 DIFC Ltd grew its position in Spectrum Brands by 2,137.5% in the third quarter. Point72 DIFC Ltd now owns 6,198 shares of the company’s stock worth $590,000 after acquiring an additional 5,921 shares during the period. Finally, Quarry LP increased its stake in Spectrum Brands by 70.9% during the third quarter. Quarry LP now owns 974 shares of the company’s stock worth $93,000 after acquiring an additional 404 shares during the last quarter.

Spectrum Brands Price Performance

The stock has a 50-day simple moving average of $75.72 and a 200 day simple moving average of $84.79. The company has a market cap of $1.64 billion, a PE ratio of 15.32, a P/E/G ratio of 1.70 and a beta of 1.20. The company has a quick ratio of 1.53, a current ratio of 2.40 and a debt-to-equity ratio of 0.27.

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, beating the consensus estimate of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. During the same period last year, the company posted $0.78 EPS. Equities analysts expect that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were given a dividend of $0.47 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.02%. Spectrum Brands’s payout ratio is currently 46.19%.

About Spectrum Brands

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.