Spectrum Brands (NYSE:SPB) Price Target Increased to $85.00 by Analysts at Wells Fargo & Company

Spectrum Brands (NYSE:SPBGet Free Report) had its price objective boosted by analysts at Wells Fargo & Company from $75.00 to $85.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential downside of 1.00% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. StockNews.com upgraded shares of Spectrum Brands from a “sell” rating to a “hold” rating in a report on Saturday, December 30th. Canaccord Genuity Group reiterated a “hold” rating and issued a $86.00 price target (up previously from $83.00) on shares of Spectrum Brands in a report on Friday. Canaccord Genuity Group downgraded shares of Spectrum Brands from a “buy” rating to a “hold” rating and increased their price target for the company from $83.00 to $86.00 in a report on Friday. Monness Crespi & Hardt increased their price target on shares of Spectrum Brands from $87.00 to $98.00 and gave the company a “buy” rating in a report on Friday. Finally, Royal Bank of Canada cut their price target on shares of Spectrum Brands from $96.00 to $89.00 and set an “outperform” rating for the company in a report on Wednesday, November 22nd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Spectrum Brands presently has an average rating of “Hold” and an average price target of $88.86.

View Our Latest Analysis on Spectrum Brands

Spectrum Brands Stock Down 0.3 %

Shares of Spectrum Brands stock opened at $85.86 on Friday. The company has a market cap of $2.65 billion, a P/E ratio of 1.86, a PEG ratio of 0.76 and a beta of 1.19. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.22 and a current ratio of 3.83. Spectrum Brands has a one year low of $56.69 and a one year high of $87.99. The firm has a fifty day moving average of $78.63 and a two-hundred day moving average of $77.48.

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

Insider Activity at Spectrum Brands

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

Institutional Investors Weigh In On Spectrum Brands

Several hedge funds have recently modified their holdings of SPB. Invesco Ltd. boosted its stake in shares of Spectrum Brands by 194.0% during the 1st quarter. Invesco Ltd. now owns 1,514,530 shares of the company’s stock worth $134,369,000 after purchasing an additional 999,459 shares during the last quarter. Alberta Investment Management Corp purchased a new position in shares of Spectrum Brands during the 2nd quarter worth about $47,501,000. LSV Asset Management purchased a new position in shares of Spectrum Brands during the 4th quarter worth about $35,216,000. Dimensional Fund Advisors LP lifted its holdings 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 worth $79,913,000 after acquiring an additional 396,155 shares during the period. Finally, Norges Bank purchased a new position in shares of Spectrum Brands during the 4th quarter worth about $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.

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