UBS Group Lowers Spectrum Brands (NYSE:SPB) Price Target to $109.00

Spectrum Brands (NYSE:SPB) had its price objective decreased by stock analysts at UBS Group from $114.00 to $109.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price target points to a potential upside of 27.59% from the stock’s previous close.

Several other research analysts also recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Canaccord Genuity Group boosted their target price on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $100.75.

Spectrum Brands Stock Performance

NYSE:SPB traded up $0.33 during trading hours on Thursday, hitting $85.43. 158,633 shares of the company traded hands, compared to its average volume of 333,795. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 20.94, a P/E/G ratio of 1.46 and a beta of 1.20. The company has a current ratio of 2.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.26. Spectrum Brands has a twelve month low of $75.50 and a twelve month high of $96.74. The firm has a 50-day moving average of $88.89 and a 200 day moving average of $89.05.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings data on Friday, November 15th. The company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.16). Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. The firm had revenue of $773.70 million for the quarter, compared to analyst estimates of $747.80 million. During the same period in the previous year, the business posted $1.36 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. On average, analysts forecast that Spectrum Brands will post 5.25 EPS for the current year.

Hedge Funds Weigh In On Spectrum Brands

Hedge funds have recently added to or reduced their stakes in the stock. Citigroup Inc. increased its stake in shares of Spectrum Brands by 15.9% in the 3rd quarter. Citigroup Inc. now owns 41,048 shares of the company’s stock valued at $3,905,000 after acquiring an additional 5,641 shares during the last quarter. Everence Capital Management Inc. acquired a new position in shares of Spectrum Brands in the 4th quarter valued at $553,000. Bank of Montreal Can increased its holdings in shares of Spectrum Brands by 2,542.3% in the second quarter. Bank of Montreal Can now owns 117,795 shares of the company’s stock worth $10,862,000 after acquiring an additional 113,337 shares in the last quarter. International Assets Investment Management LLC increased its stake in Spectrum Brands by 9,420.0% during the 3rd quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock worth $45,000 after purchasing an additional 471 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Spectrum Brands by 5.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,120,102 shares of the company’s stock worth $201,707,000 after acquiring an additional 112,530 shares during the period.

About Spectrum Brands

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.