In a report released today, Nik Modi from RBC Capital maintained a Buy rating on Spectrum Brands Holdings (SPB – Research Report), with a price target of $89.00. The company’s shares opened today at $79.57.
Modi covers the Consumer Defensive sector, focusing on stocks such as Clorox, Colgate-Palmolive, and Constellation Brands. According to TipRanks, Modi has an average return of 6.4% and a 60.60% success rate on recommended stocks.
Currently, the analyst consensus on Spectrum Brands Holdings is a Moderate Buy with an average price target of $82.80.
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Based on Spectrum Brands Holdings’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $735.5 million and a net profit of $1.86 billion. In comparison, last year the company earned a revenue of $818 million and had a net profit of $32.7 million
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SPB in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Spectrum Brands Holdings (SPB) Company Description:
Spectrum Brands Holdings, Inc. engages in the manufacture and supply of residential locksets, residential builders hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn, garden and home pest control products, and personal insect repellents. It operates through the following segments: Hardware and Home Improvement (HHI); Home and Personal Care (HPC); Global Pet Care (GPC); Home and Garden (H&G). The HHI segment consists of hardware, security and plumbing business. The GPC segment focuses on the pet care business. The H&G segment involves the home and garden and insect control business. The HPC segment includes the small kitchen and personal care appliances business. The company was founded in 1906 and is headquartered in Middleton, WI.
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