Spectrum Brands Holdings Inc (NYSE:SPB) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 4,087,200 shares, an increase of 17.4% from the May 30th total of 3,480,000 shares. Based on an average daily volume of 409,700 shares, the short-interest ratio is presently 10.0 days. Approximately 8.6% of the company’s shares are sold short.
A number of equities research analysts recently commented on the company. Wells Fargo & Co reaffirmed a “hold” rating and set a $11.00 price objective on shares of Coty in a research note on Wednesday, May 8th. Royal Bank of Canada reissued a “hold” rating and issued a $0.35 target price on shares of DB Commodity Double Short ETN in a research note on Friday. Deutsche Bank reissued a “hold” rating on shares of AIB Group in a research note on Monday, April 8th. Monness Crespi & Hardt reissued a “buy” rating and issued a $77.00 target price (up from $64.00) on shares of Spectrum Brands in a research note on Thursday, May 9th. Finally, Zacks Investment Research cut GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Spectrum Brands currently has an average rating of “Hold” and an average target price of $57.39.
NYSE:SPB traded up $1.53 on Friday, reaching $51.54. The company’s stock had a trading volume of 438,765 shares, compared to its average volume of 419,032. Spectrum Brands has a 1-year low of $40.54 and a 1-year high of $92.72. The company has a current ratio of 1.60, a quick ratio of 0.82 and a debt-to-equity ratio of 1.21. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 8.51 and a beta of 1.84. The stock’s 50-day moving average price is $55.82.
Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.12). The firm had revenue of $906.70 million for the quarter, compared to analyst estimates of $874.57 million. Spectrum Brands had a return on equity of 6.03% and a net margin of 24.97%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.49 earnings per share. As a group, equities research analysts forecast that Spectrum Brands will post 2.82 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. New Jersey Better Educational Savings Trust acquired a new position in shares of Spectrum Brands in the second quarter valued at approximately $333,000. Supplemental Annuity Collective Trust of NJ acquired a new position in shares of Spectrum Brands in the second quarter valued at approximately $538,000. FMR LLC grew its position in shares of Spectrum Brands by 14.3% in the first quarter. FMR LLC now owns 7,895,443 shares of the company’s stock valued at $432,511,000 after purchasing an additional 986,101 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Spectrum Brands by 33.0% in the first quarter. Nordea Investment Management AB now owns 97,600 shares of the company’s stock valued at $5,346,000 after purchasing an additional 24,200 shares during the last quarter. Finally, Advisory Services Network LLC grew its position in shares of Spectrum Brands by 11.1% in the first quarter. Advisory Services Network LLC now owns 10,542 shares of the company’s stock valued at $577,000 after purchasing an additional 1,052 shares during the last quarter.
About Spectrum Brands
Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware, Stanley, and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell brands; and plumbing products under the Pfister brand.
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