Spectrum Brands (NYSE:SPB) Price Target Lowered to $109.00 at UBS Group

Spectrum Brands (NYSE:SPB) had its price target lowered by UBS Group from $114.00 to $109.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts also recently commented on the company. Canaccord Genuity Group lifted their target price on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. Wells Fargo & Company cut their price target on Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Spectrum Brands presently has a consensus rating of “Moderate Buy” and an average price target of $100.75.

Spectrum Brands Price Performance

Shares of SPB opened at $85.59 on Thursday. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 1.46 and a beta of 1.20. 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 company’s fifty day simple moving average is $88.63 and its 200 day simple moving average is $89.03. Spectrum Brands has a 1-year low of $75.50 and a 1-year high of $96.74.

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

Spectrum Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.20%. This is a positive change from Spectrum Brands’s previous quarterly dividend of $0.42. The ex-dividend date was Tuesday, November 26th. Spectrum Brands’s dividend payout ratio (DPR) is currently 46.08%.

Institutional Trading of Spectrum Brands

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Waldron Private Wealth LLC bought a new position in shares of Spectrum Brands during the third quarter worth approximately $27,000. Brooklyn Investment Group acquired a new stake in Spectrum Brands during the third quarter worth approximately $31,000. International Assets Investment Management LLC increased its stake in Spectrum Brands by 9,420.0% during the 3rd quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock worth $45,000 after acquiring an additional 471 shares during the period. Farther Finance Advisors LLC raised 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 acquiring an additional 261 shares in the last quarter. Finally, Quarry LP lifted its position in shares of Spectrum Brands by 375.0% during the 2nd quarter. Quarry LP now owns 570 shares of the company’s stock valued at $49,000 after acquiring an additional 450 shares during the period.

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.