South Pacific Resources (NYSE:SPB) Price Target Lowered to $84.00 at UBS Group

South Pacific Resources (NYSE:SPBGet Rating) had its price target dropped by investment analysts at UBS Group from $91.00 to $84.00 in a research note issued on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 68.47% from the company’s current price.

A number of other equities analysts have also recently issued reports on SPB. TheStreet cut South Pacific Resources from a “c-” rating to a “d+” rating in a report on Monday, October 10th. Monness Crespi & Hardt cut their price target on South Pacific Resources from $100.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, September 16th. Deutsche Bank Aktiengesellschaft cut their price target on South Pacific Resources from $68.00 to $63.00 in a report on Monday. Oppenheimer cut their price target on South Pacific Resources to $67.00 in a report on Thursday, October 20th. Finally, Wells Fargo & Company cut their price target on South Pacific Resources from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Monday, October 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.17.

South Pacific Resources Stock Performance

NYSE:SPB opened at $49.86 on Wednesday. The company has a market capitalization of $2.03 billion, a PE ratio of 28.49 and a beta of 1.49. The company has a 50 day simple moving average of $44.90 and a two-hundred day simple moving average of $64.90. The company has a debt-to-equity ratio of 2.48, a quick ratio of 2.02 and a current ratio of 2.72. South Pacific Resources has a fifty-two week low of $38.93 and a fifty-two week high of $105.75.

Hedge Funds Weigh In On South Pacific Resources

Large investors have recently modified their holdings of the company. Captrust Financial Advisors increased its holdings in South Pacific Resources by 31.7% in the 1st quarter. Captrust Financial Advisors now owns 503 shares of the company’s stock worth $45,000 after acquiring an additional 121 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in South Pacific Resources by 1.3% in the 3rd quarter. Treasurer of the State of North Carolina now owns 17,071 shares of the company’s stock worth $666,000 after acquiring an additional 220 shares during the last quarter. Brinker Capital Investments LLC increased its holdings in South Pacific Resources by 1.2% in the 3rd quarter. Brinker Capital Investments LLC now owns 19,744 shares of the company’s stock worth $771,000 after acquiring an additional 230 shares during the last quarter. Pinebridge Investments L.P. increased its holdings in South Pacific Resources by 233.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 333 shares of the company’s stock worth $27,000 after acquiring an additional 233 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its holdings in South Pacific Resources by 8.8% in the 3rd quarter. Ensign Peak Advisors Inc now owns 3,210 shares of the company’s stock worth $125,000 after acquiring an additional 260 shares during the last quarter.

About South Pacific Resources

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Spectrum Brands Holdings, Inc is a consumer products and home essentials company. It engages in the manufacturing and supply of residential locksets, residential builders’ hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn, garden and home pest control products, and personal insect repellents.

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