Wells Fargo & Company Has Lowered Expectations for Spectrum Brands (NYSE:SPB) Stock Price

Spectrum Brands (NYSE:SPB) had its target price reduced by analysts at Wells Fargo & Company from $92.00 to $88.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 3.99% from the stock’s previous close.

Separately, Canaccord Genuity Group boosted their target price on shares of Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research note on Monday, November 18th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $102.13.

Spectrum Brands Price Performance

Shares of NYSE SPB opened at $84.62 on Tuesday. The company has a quick ratio of 1.62, a current ratio of 2.30 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $2.37 billion, a PE ratio of 20.74, a PEG ratio of 1.58 and a beta of 1.20. The stock’s 50 day moving average price is $89.53 and its 200-day moving average price is $89.12. Spectrum Brands has a twelve month low of $75.50 and a twelve month high of $96.74.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Friday, November 15th. The company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.16). The business had revenue of $773.70 million during the quarter, compared to analysts’ expectations of $747.80 million. Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 EPS. On average, equities analysts anticipate that Spectrum Brands will post 5.25 EPS for the current year.

Institutional Trading of Spectrum Brands

A number of institutional investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale raised its holdings in Spectrum Brands by 24.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,225 shares of the company’s stock valued at $104,000 after acquiring an additional 240 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Spectrum Brands by 92.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 544 shares of the company’s stock valued at $52,000 after purchasing an additional 261 shares during the period. Waldron Private Wealth LLC purchased a new stake in Spectrum Brands during the 3rd quarter worth about $27,000. Brooklyn Investment Group bought a new position in Spectrum Brands in the 3rd quarter worth about $31,000. Finally, State of New Jersey Common Pension Fund D grew its holdings in Spectrum Brands by 1.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 21,477 shares of the company’s stock valued at $2,043,000 after buying an additional 345 shares in the last quarter.

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.