Brokerages Set Spectrum Brands Holdings, Inc. (SPB) Price Target at $145.29

Spectrum Brands Holdings, Inc. (NYSE:SPB) has received a consensus recommendation of “Buy” from the ten ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $145.29.

Several analysts have weighed in on SPB shares. BidaskClub cut Spectrum Brands Holdings from a “sell” rating to a “strong sell” rating in a report on Saturday, July 8th. Zacks Investment Research cut Spectrum Brands Holdings from a “hold” rating to a “sell” rating in a report on Saturday, July 29th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Spectrum Brands Holdings in a report on Thursday, July 27th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $150.00 price target (down previously from $165.00) on shares of Spectrum Brands Holdings in a report on Thursday, July 6th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $160.00 price objective on shares of Spectrum Brands Holdings in a research report on Thursday, May 25th.

Several institutional investors have recently made changes to their positions in the company. Bank of Nova Scotia bought a new position in shares of Spectrum Brands Holdings during the 2nd quarter valued at about $5,852,000. Cubist Systematic Strategies LLC increased its position in shares of Spectrum Brands Holdings by 20.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,766 shares of the company’s stock valued at $346,000 after purchasing an additional 466 shares during the last quarter. State Street Corp increased its position in shares of Spectrum Brands Holdings by 2.6% during the 2nd quarter. State Street Corp now owns 569,855 shares of the company’s stock valued at $71,288,000 after purchasing an additional 14,196 shares during the last quarter. FTB Advisors Inc. increased its position in shares of Spectrum Brands Holdings by 16,710.6% during the 2nd quarter. FTB Advisors Inc. now owns 33,453 shares of the company’s stock valued at $4,080,000 after purchasing an additional 33,254 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new position in shares of Spectrum Brands Holdings during the 2nd quarter valued at about $12,046,000. Hedge funds and other institutional investors own 47.01% of the company’s stock.

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Spectrum Brands Holdings (NYSE:SPB) traded down 1.03% during mid-day trading on Wednesday, hitting $103.06. The stock had a trading volume of 281,507 shares. Spectrum Brands Holdings has a 52 week low of $102.27 and a 52 week high of $146.09. The company’s 50 day moving average price is $111.23 and its 200 day moving average price is $128.35. The firm has a market cap of $5.98 billion, a PE ratio of 21.10 and a beta of 0.68.

Spectrum Brands Holdings (NYSE:SPB) last released its quarterly earnings results on Thursday, July 27th. The company reported $1.71 earnings per share for the quarter, missing the consensus estimate of $1.92 by $0.21. Spectrum Brands Holdings had a net margin of 5.87% and a return on equity of 17.46%. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the previous year, the business earned $1.73 EPS. The business’s revenue was down 4.2% on a year-over-year basis. Analysts anticipate that Spectrum Brands Holdings will post $5.60 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, August 11th. This represents a $1.68 annualized dividend and a dividend yield of 1.63%. Spectrum Brands Holdings’s dividend payout ratio (DPR) is presently 34.29%.

About Spectrum Brands Holdings

Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.

Analyst Recommendations for Spectrum Brands Holdings (NYSE:SPB)

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