Spectrum Brands (NYSE:SPB – Get Rating) had its price objective cut by Deutsche Bank Aktiengesellschaft from $90.00 to $68.00 in a research note issued to investors on Friday, The Fly reports. They currently have a buy rating on the stock.
SPB has been the subject of a number of other reports. Wells Fargo & Company cut their target price on Spectrum Brands from $100.00 to $95.00 and set an overweight rating for the company in a research note on Monday, August 15th. Oppenheimer cut their target price on Spectrum Brands from $125.00 to $95.00 and set an outperform rating for the company in a research note on Monday, July 18th. UBS Group cut their target price on Spectrum Brands from $109.00 to $100.00 and set a buy rating for the company in a research note on Monday, August 15th. Royal Bank of Canada cut their target price on Spectrum Brands from $120.00 to $109.00 and set an outperform rating for the company in a research note on Monday, August 15th. Finally, Raymond James began coverage on Spectrum Brands in a research note on Tuesday, July 12th. They issued a market perform rating for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $87.00.
Get Spectrum Brands alerts:Spectrum Brands Stock Performance
NYSE SPB opened at $47.05 on Friday. The company's fifty day moving average is $66.97 and its two-hundred day moving average is $79.46. Spectrum Brands has a 52-week low of $46.67 and a 52-week high of $107.22. The company has a debt-to-equity ratio of 2.45, a current ratio of 2.66 and a quick ratio of 2.02. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 18.45 and a beta of 1.30.
Spectrum Brands (NYSE:SPB – Get Rating) last released its earnings results on Friday, August 12th. The company reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $1.42 by ($0.88). Spectrum Brands had a return on equity of 3.85% and a net margin of 3.41%. The firm had revenue of $818.00 million for the quarter, compared to analyst estimates of $917.88 million. During the same period last year, the business earned $1.57 earnings per share. The firm's quarterly revenue was up 10.0% compared to the same quarter last year. Equities research analysts forecast that Spectrum Brands will post 1.27 EPS for the current year.Spectrum Brands Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 28th. Shareholders of record on Tuesday, August 30th will be paid a dividend of $0.42 per share. The ex-dividend date is Monday, August 29th. This represents a $1.68 annualized dividend and a yield of 3.57%. Spectrum Brands's dividend payout ratio is currently 65.88%.
Institutional Trading of Spectrum Brands
Hedge funds and other institutional investors have recently made changes to their positions in the business. Ensign Peak Advisors Inc acquired a new stake in shares of Spectrum Brands in the fourth quarter valued at $300,000. Gotham Asset Management LLC acquired a new stake in shares of Spectrum Brands in the fourth quarter valued at $747,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of Spectrum Brands in the fourth quarter valued at $305,000. Cinctive Capital Management LP acquired a new stake in shares of Spectrum Brands in the fourth quarter valued at $2,885,000. Finally, Teacher Retirement System of Texas increased its stake in shares of Spectrum Brands by 3.5% in the first quarter. Teacher Retirement System of Texas now owns 8,170 shares of the company's stock valued at $725,000 after buying an additional 275 shares in the last quarter.
About Spectrum Brands
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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.
Further Reading
- Get a free copy of the StockNews.com research report on Spectrum Brands (SPB)
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