Spectrum Brands (NYSE:SPB) Given “Hold” Rating at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their hold rating on shares of Spectrum Brands (NYSE:SPBFree Report) in a research note published on Friday, Benzinga reports. Canaccord Genuity Group currently has a $86.00 target price on the stock, up from their previous target price of $83.00.

Other analysts have also issued reports about the company. StockNews.com raised Spectrum Brands from a sell rating to a hold rating in a research note on Saturday, December 30th. Royal Bank of Canada decreased their price target on Spectrum Brands from $96.00 to $89.00 and set an outperform rating on the stock in a research note on Wednesday, November 22nd. Canaccord Genuity Group lowered Spectrum Brands from a buy rating to a hold rating and lifted their price objective for the company from $83.00 to $86.00 in a research note on Friday. Finally, Wells Fargo & Company lowered Spectrum Brands from an overweight rating to an equal weight rating and reduced their price objective for the company from $90.00 to $73.00 in a research note on Monday, November 20th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $88.86.

Check Out Our Latest Report on Spectrum Brands

Spectrum Brands Stock Down 0.3 %

Shares of NYSE:SPB opened at $85.84 on Friday. The stock’s 50-day moving average price is $78.33 and its two-hundred day moving average price is $77.42. The company has a current ratio of 3.83, a quick ratio of 3.22 and a debt-to-equity ratio of 0.61. Spectrum Brands has a 12-month low of $56.69 and a 12-month high of $87.99. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 1.86, a PEG ratio of 0.76 and a beta of 1.19.

Spectrum Brands (NYSE:SPBGet Free Report) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.47. Spectrum Brands had a return on equity of 4.78% and a net margin of 63.89%. The firm had revenue of $692.20 million for the quarter, compared to analyst estimates of $674.20 million. During the same period last year, the company earned ($0.32) EPS. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. On average, research analysts forecast that Spectrum Brands will post 3.72 EPS for the current year.

Spectrum Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Shareholders of record on Tuesday, February 20th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Friday, February 16th. Spectrum Brands’s dividend payout ratio is presently 3.65%.

Insiders Place Their Bets

In other Spectrum Brands news, CEO David M. Maura bought 20,000 shares of the business’s stock in a transaction on Monday, November 27th. The shares were bought at an average cost of $66.41 per share, with a total value of $1,328,200.00. Following the transaction, the chief executive officer now directly owns 744,391 shares in the company, valued at approximately $49,435,006.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Spectrum Brands news, EVP Ehsan Zargar bought 1,053 shares of the business’s stock in a transaction on Monday, November 27th. The shares were bought at an average cost of $66.50 per share, with a total value of $70,024.50. Following the transaction, the executive vice president now directly owns 145,415 shares in the company, valued at approximately $9,670,097.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David M. Maura bought 20,000 shares of the business’s stock in a transaction on Monday, November 27th. The stock was acquired at an average cost of $66.41 per share, for a total transaction of $1,328,200.00. Following the completion of the transaction, the chief executive officer now owns 744,391 shares in the company, valued at $49,435,006.31. The disclosure for this purchase can be found here. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Spectrum Brands

A number of institutional investors have recently made changes to their positions in SPB. Invesco Ltd. raised its position in shares of Spectrum Brands by 194.0% in the 1st quarter. Invesco Ltd. now owns 1,514,530 shares of the company’s stock valued at $134,369,000 after purchasing an additional 999,459 shares in the last quarter. Alberta Investment Management Corp acquired a new stake in shares of Spectrum Brands during the 2nd quarter valued at approximately $47,501,000. LSV Asset Management acquired a new stake in shares of Spectrum Brands during the 4th quarter valued at approximately $35,216,000. Dimensional Fund Advisors LP raised its position in shares of Spectrum Brands by 48.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,206,827 shares of the company’s stock valued at $79,913,000 after acquiring an additional 396,155 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Spectrum Brands during the 4th quarter valued at approximately $22,965,000.

Spectrum Brands Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Spectrum Brands (NYSE:SPB)

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