Spectrum Brands (NYSE:SPB) Price Target Raised to $114.00 at Royal Bank of Canada

Spectrum Brands (NYSE:SPB) had its price objective lifted by equities research analysts at Royal Bank of Canada from $100.00 to $114.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 19.94% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Canaccord Genuity Group downgraded shares of Spectrum Brands from a “buy” rating to a “hold” rating and upped their price objective for the company from $83.00 to $86.00 in a report on Friday, February 9th. Wells Fargo & Company upped their price objective on shares of Spectrum Brands from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Oppenheimer upped their price objective on shares of Spectrum Brands from $88.00 to $115.00 and gave the company an “outperform” rating in a report on Friday. Canaccord Genuity Group reaffirmed a “hold” rating and set a $86.00 price objective (up previously from $83.00) on shares of Spectrum Brands in a research note on Friday, February 9th. Finally, Monness Crespi & Hardt increased their target price on shares of Spectrum Brands from $98.00 to $106.00 and gave the stock a “buy” rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Spectrum Brands has a consensus rating of “Hold” and an average price target of $100.33.

Spectrum Brands Stock Up 0.5 %

SPB traded up $0.44 during mid-day trading on Friday, reaching $95.05. 163,081 shares of the stock were exchanged, compared to its average volume of 376,891. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.75 and a current ratio of 3.36. The stock has a market capitalization of $2.88 billion, a PE ratio of 2.07, a price-to-earnings-growth ratio of 0.59 and a beta of 1.20. The company has a 50 day moving average price of $83.58 and a two-hundred day moving average price of $79.58. Spectrum Brands has a 1 year low of $65.27 and a 1 year high of $96.74.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Thursday, May 9th. The company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $1.13. The firm had revenue of $718.50 million for the quarter, compared to the consensus estimate of $708.54 million. Spectrum Brands had a net margin of 63.89% and a return on equity of 4.66%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.14) EPS. As a group, research analysts anticipate that Spectrum Brands will post 3.79 EPS for the current year.

Institutional Trading of Spectrum Brands

Institutional investors have recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC purchased a new stake in Spectrum Brands during the first quarter valued at about $27,000. Larson Financial Group LLC raised its stake in shares of Spectrum Brands by 72.6% during the fourth quarter. Larson Financial Group LLC now owns 359 shares of the company’s stock valued at $29,000 after acquiring an additional 151 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Spectrum Brands during the first quarter valued at about $30,000. International Assets Investment Management LLC raised its stake in shares of Spectrum Brands by 1,713.6% during the fourth quarter. International Assets Investment Management LLC now owns 399 shares of the company’s stock valued at $32,000 after acquiring an additional 377 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of Spectrum Brands by 53.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the company’s stock valued at $36,000 after acquiring an additional 160 shares during the last quarter.

Spectrum Brands Company Profile

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.