Wells Fargo & Company Cuts Spectrum Brands (NYSE:SPB) Price Target to $80.00

Spectrum Brands (NYSE:SPBGet Rating) had its price target cut by analysts at Wells Fargo & Company from $95.00 to $80.00 in a research report issued on Friday, Marketbeat reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 70.03% from the company’s previous close.

Several other brokerages also recently commented on SPB. Monness Crespi & Hardt lowered their target price on shares of Spectrum Brands from $100.00 to $70.00 and set a “buy” rating for the company in a research note on Friday. Royal Bank of Canada lowered their target price on shares of Spectrum Brands from $120.00 to $109.00 and set an “outperform” rating for the company in a research note on Monday, August 15th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Spectrum Brands from $90.00 to $68.00 and set a “buy” rating for the company in a research note on Friday. UBS Group lowered their target price on shares of Spectrum Brands from $109.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, August 15th. Finally, Oppenheimer lowered their target price on shares of Spectrum Brands from $125.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, July 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Spectrum Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.

Spectrum Brands Trading Down 4.5 %

Shares of SPB opened at $47.05 on Friday. The company has a quick ratio of 2.02, a current ratio of 2.66 and a debt-to-equity ratio of 2.45. Spectrum Brands has a 12-month low of $46.67 and a 12-month high of $107.22. The firm has a market capitalization of $1.92 billion, a PE ratio of 18.45 and a beta of 1.30. The stock’s fifty day simple moving average is $66.97 and its 200-day simple moving average is $79.54.

Spectrum Brands (NYSE:SPBGet Rating) last announced its quarterly earnings results on Friday, August 12th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.88). Spectrum Brands had a net margin of 3.41% and a return on equity of 3.85%. The company had revenue of $818.00 million during the quarter, compared to the consensus estimate of $917.88 million. During the same period last year, the company earned $1.57 earnings per share. The business’s revenue was up 10.0% compared to the same quarter last year. As a group, research analysts predict that Spectrum Brands will post 1.27 earnings per share for the current year.

Institutional Trading of Spectrum Brands

Large investors have recently added to or reduced their stakes in the company. Pinebridge Investments L.P. lifted its stake in Spectrum Brands by 233.0% in the second quarter. Pinebridge Investments L.P. now owns 333 shares of the company’s stock valued at $27,000 after acquiring an additional 233 shares during the last quarter. Captrust Financial Advisors lifted its stake in Spectrum Brands by 31.7% in the first quarter. Captrust Financial Advisors now owns 503 shares of the company’s stock valued at $45,000 after acquiring an additional 121 shares during the last quarter. Quent Capital LLC bought a new position in shares of Spectrum Brands in the fourth quarter valued at about $65,000. Point72 Hong Kong Ltd bought a new position in shares of Spectrum Brands in the fourth quarter valued at about $87,000. Finally, MetLife Investment Management LLC raised its position in shares of Spectrum Brands by 1,012.7% in the first quarter. MetLife Investment Management LLC now owns 879 shares of the company’s stock valued at $78,000 after purchasing an additional 800 shares during the period.

About Spectrum Brands

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Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. 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, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington and LumaBella brands.

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