Spectrum Brands (NYSE:SPB) Price Target Lowered to $90.00 at Canaccord Genuity Group

Spectrum Brands (NYSE:SPB) had its price objective reduced by Canaccord Genuity Group from $92.00 to $90.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a hold rating on the stock.

SPB has been the subject of a number of other reports. Wells Fargo & Company lifted their price target on Spectrum Brands from $85.00 to $95.00 and gave the stock an equal weight rating in a research note on Friday, May 10th. Monness Crespi & Hardt lifted their target price on Spectrum Brands from $98.00 to $106.00 and gave the company a buy rating in a research note on Friday, May 10th. Deutsche Bank Aktiengesellschaft lifted their target price on Spectrum Brands from $85.00 to $91.00 and gave the company a hold rating in a research note on Friday, May 10th. Oppenheimer lifted their target price on Spectrum Brands from $88.00 to $115.00 and gave the company an outperform rating in a research note on Friday, May 10th. Finally, Royal Bank of Canada restated an outperform rating and issued a $114.00 target price on shares of Spectrum Brands in a research note on Friday, June 7th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $99.57.

Spectrum Brands Stock Down 2.5 %

NYSE:SPB opened at $85.09 on Monday. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 1.72, a price-to-earnings-growth ratio of 0.37 and a beta of 1.19. Spectrum Brands has a one year low of $65.27 and a one year high of $96.74. The stock has a 50-day simple moving average of $88.84 and a 200 day simple moving average of $84.13. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.05 and a current ratio of 3.73.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, May 9th. The company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $1.13. The business had revenue of $718.50 million during the quarter, compared to the consensus estimate of $708.54 million. Spectrum Brands had a return on equity of 6.43% and a net margin of 68.11%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.14) earnings per share. Sell-side analysts predict that Spectrum Brands will post 4.68 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, May 28th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.97%. Spectrum Brands’s dividend payout ratio (DPR) is presently 3.40%.

Institutional Investors Weigh In On Spectrum Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Eagle Investment Management LLC bought a new stake in Spectrum Brands during the fourth quarter worth approximately $3,949,000. Great Lakes Advisors LLC increased its holdings in shares of Spectrum Brands by 50.0% in the fourth quarter. Great Lakes Advisors LLC now owns 324,413 shares of the company’s stock valued at $25,878,000 after buying an additional 108,076 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Spectrum Brands in the fourth quarter valued at $1,424,000. Redwood Investment Management LLC increased its holdings in shares of Spectrum Brands by 273.6% in the fourth quarter. Redwood Investment Management LLC now owns 76,092 shares of the company’s stock valued at $6,070,000 after buying an additional 55,727 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of Spectrum Brands in the third quarter valued at $4,452,000.

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.