Analysts Set Spectrum Brands Holdings Inc. (NYSE:SPB) Price Target at $85.00

Shares of Spectrum Brands Holdings Inc. (NYSE:SPB) have been given a consensus rating of “Moderate Buy” by the six research firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $85.00.

Several research analysts have weighed in on the stock. Monness Crespi & Hardt lowered their target price on shares of Spectrum Brands from $106.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, May 14th. UBS Group boosted their price target on shares of Spectrum Brands from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Wells Fargo & Company dropped their price objective on Spectrum Brands from $75.00 to $65.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Finally, Canaccord Genuity Group set a $77.00 target price on Spectrum Brands and gave the company a “buy” rating in a report on Wednesday, June 25th.

Insider Transactions at Spectrum Brands

In other Spectrum Brands news, CEO David M. Maura sold 66,000 shares of Spectrum Brands stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $65.53, for a total value of $4,324,980.00. Following the sale, the chief executive officer owned 723,607 shares of the company’s stock, valued at approximately $47,417,966.71. The trade was a 8.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Spectrum Brands

Large investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC acquired a new position in Spectrum Brands during the fourth quarter worth $50,000. Versant Capital Management Inc boosted its position in shares of Spectrum Brands by 101.7% during the 1st quarter. Versant Capital Management Inc now owns 970 shares of the company’s stock worth $69,000 after purchasing an additional 489 shares in the last quarter. New York State Teachers Retirement System acquired a new position in shares of Spectrum Brands during the 1st quarter worth $118,000. Lazard Asset Management LLC increased its holdings in shares of Spectrum Brands by 89.6% in the 4th quarter. Lazard Asset Management LLC now owns 1,464 shares of the company’s stock valued at $123,000 after purchasing an additional 692 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Spectrum Brands in the 1st quarter valued at about $157,000.

Spectrum Brands Stock Performance

NYSE:SPB opened at $56.58 on Tuesday. The company has a market cap of $1.39 billion, a P/E ratio of 27.07 and a beta of 0.90. Spectrum Brands has a twelve month low of $50.73 and a twelve month high of $96.62. The company’s 50-day moving average price is $58.37 and its 200-day moving average price is $70.11. The company has a current ratio of 2.34, a quick ratio of 1.40 and a debt-to-equity ratio of 0.34.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.67). Spectrum Brands had a return on equity of 5.20% and a net margin of 2.02%. The company had revenue of $675.70 million for the quarter, compared to analysts’ expectations of $701.00 million. During the same quarter in the prior year, the firm earned $1.62 EPS. The firm’s revenue was down 6.0% on a year-over-year basis. On average, sell-side analysts forecast that Spectrum Brands will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.32%. Spectrum Brands’s dividend payout ratio (DPR) is 89.95%.

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.