Spectrum Brands (NYSE:SPB) Stock Rating Lowered by Raymond James

Raymond James downgraded shares of Spectrum Brands (NYSE:SPB) to a market perform rating in a report released on Wednesday morning, Stock Target Advisor reports.

A number of other analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a buy rating and issued a $116.00 price target (up from $110.00) on shares of Spectrum Brands in a research report on Friday, November 12th. Monness Crespi & Hardt upped their price target on shares of Spectrum Brands from $113.00 to $125.00 and gave the stock a buy rating in a research note on Monday, November 15th. Zacks Investment Research upgraded Spectrum Brands from a hold rating to a buy rating and set a $110.00 price objective for the company in a report on Wednesday, November 17th. Oppenheimer upped their target price on Spectrum Brands from $110.00 to $125.00 and gave the stock an outperform rating in a research report on Monday, November 15th. Finally, Royal Bank of Canada lifted their price target on Spectrum Brands from $100.00 to $124.00 and gave the company an outperform rating in a report on Wednesday, November 17th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $117.71.

Shares of NYSE:SPB opened at $100.01 on Wednesday. The company’s fifty day moving average is $100.47 and its two-hundred day moving average is $92.19. The company has a market cap of $4.26 billion, a P/E ratio of 22.68 and a beta of 1.62. Spectrum Brands has a 12-month low of $74.26 and a 12-month high of $107.22. The company has a quick ratio of 2.02, a current ratio of 2.50 and a debt-to-equity ratio of 1.69.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Friday, November 12th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.42). The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Spectrum Brands had a net margin of 4.50% and a return on equity of 16.93%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.72 EPS. Equities research analysts anticipate that Spectrum Brands will post 3.44 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 14th. Shareholders of record on Monday, November 22nd were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, November 19th. This represents a $1.68 annualized dividend and a yield of 1.68%. Spectrum Brands’s dividend payout ratio (DPR) is presently 38.10%.

Several institutional investors have recently modified their holdings of the company. O Shaughnessy Asset Management LLC grew its stake in Spectrum Brands by 6.1% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 2,171 shares of the company’s stock valued at $185,000 after buying an additional 125 shares during the last quarter. Fieldpoint Private Securities LLC boosted its holdings in Spectrum Brands by 2.5% during the third quarter. Fieldpoint Private Securities LLC now owns 5,906 shares of the company’s stock valued at $565,000 after acquiring an additional 146 shares during the period. West Oak Capital LLC grew its position in shares of Spectrum Brands by 1.8% in the third quarter. West Oak Capital LLC now owns 11,395 shares of the company’s stock valued at $1,090,000 after purchasing an additional 200 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Spectrum Brands by 65.0% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 510 shares of the company’s stock worth $49,000 after purchasing an additional 201 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in Spectrum Brands in the 3rd quarter valued at approximately $26,000. Institutional investors and hedge funds own 97.06% of the company’s stock.

Spectrum Brands Company Profile

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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Analyst Recommendations for Spectrum Brands (NYSE:SPB)

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