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Spectrum Brands (NYSE:SPB) Price Target Cut to $80.00

Defense World ·  Sep 18, 2022 04:11

Spectrum Brands (NYSE:SPB – Get Rating) had its target price cut by Wells Fargo & Company from $95.00 to $80.00 in a report issued on Friday, MarketBeat Ratings reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price target would indicate a potential upside of 70.03% from the company's current price.

A number of other equities research analysts also recently commented on the company. Royal Bank of Canada cut their price objective on Spectrum Brands from $120.00 to $109.00 and set an "outperform" rating for the company in a research report on Monday, August 15th. Monness Crespi & Hardt reduced their target price on Spectrum Brands from $100.00 to $70.00 and set a "buy" rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft reduced their target price on Spectrum Brands from $90.00 to $68.00 and set a "buy" rating for the company in a report on Friday. Raymond James assumed coverage on Spectrum Brands in a report on Tuesday, July 12th. They issued a "market perform" rating for the company. Finally, UBS Group reduced their target price on Spectrum Brands from $109.00 to $100.00 and set a "buy" rating for the company in a report on Monday, August 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Spectrum Brands has a consensus rating of "Moderate Buy" and a consensus target price of $87.00.

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Spectrum Brands Price Performance

Shares of NYSE:SPB opened at $47.05 on Friday. Spectrum Brands has a one year low of $46.67 and a one year high of $107.22. The stock has a fifty day moving average of $66.97 and a 200-day moving average of $79.54. The company has a market capitalization of $1.92 billion, a PE ratio of 18.45 and a beta of 1.30. The company has a debt-to-equity ratio of 2.45, a quick ratio of 2.02 and a current ratio of 2.66.

Spectrum Brands (NYSE:SPB – Get Rating) last announced its quarterly earnings data on Friday, August 12th. The company reported $0.54 EPS for the quarter, missing analysts' consensus estimates of $1.42 by ($0.88). Spectrum Brands had a net margin of 3.41% and a return on equity of 3.85%. The company had revenue of $818.00 million for the quarter, compared to analyst estimates of $917.88 million. During the same quarter last year, the company posted $1.57 EPS. Spectrum Brands's revenue was up 10.0% on a year-over-year basis. As a group, equities analysts anticipate that Spectrum Brands will post 1.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. FMR LLC lifted its holdings in Spectrum Brands by 1.0% in the 2nd quarter. FMR LLC now owns 5,663,740 shares of the company's stock worth $464,540,000 after purchasing an additional 58,634 shares during the last quarter. American Century Companies Inc. lifted its holdings in Spectrum Brands by 14.5% in the 1st quarter. American Century Companies Inc. now owns 2,255,826 shares of the company's stock worth $200,137,000 after purchasing an additional 285,748 shares during the last quarter. Invesco Ltd. lifted its holdings in Spectrum Brands by 194.0% in the 1st quarter. Invesco Ltd. now owns 1,514,530 shares of the company's stock worth $134,369,000 after purchasing an additional 999,459 shares during the last quarter. Cardinal Capital Management LLC CT lifted its holdings in Spectrum Brands by 25.2% in the 1st quarter. Cardinal Capital Management LLC CT now owns 1,404,956 shares of the company's stock worth $124,648,000 after purchasing an additional 282,821 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in Spectrum Brands by 0.6% in the 2nd quarter. Macquarie Group Ltd. now owns 1,119,194 shares of the company's stock worth $91,796,000 after purchasing an additional 6,341 shares during the last quarter.

Spectrum Brands Company Profile

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Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. 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, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington and LumaBella brands.

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