Spectrum Brands (NYSE:SPB) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Spectrum Brands from “Buy” to “Hold.”
• Analyst views remain mixed: four rate the stock “Buy” and four “Hold,” with a consensus “Moderate Buy” rating and average price target of $97.86.
• In its latest reported quarter, Spectrum Brands earned $2.79 per share, beating the $1.46 estimate, while revenue rose 7.7% year over year to $753.3 million.

Spectrum Brands (NYSE:SPB - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday, Wall Street Zen reports.

SPB has been the topic of a number of other reports. Canaccord Genuity Group lifted their price target on Spectrum Brands from $99.00 to $110.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $96.00 price target on shares of Spectrum Brands in a research report on Monday, August 10th. Weiss Ratings cut shares of Spectrum Brands from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Oppenheimer raised their target price on shares of Spectrum Brands from $85.00 to $100.00 and gave the company an "outperform" rating in a report on Monday, August 10th. Finally, UBS Group initiated coverage on Spectrum Brands in a research note on Thursday, October 15th. They set a "buy" rating and a $97.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $97.86.

Spectrum Brands Stock Down 2.9%

Spectrum Brands stock opened at $86.46 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.61 and a current ratio of 2.41. Spectrum Brands has a fifty-two week low of $51.41 and a fifty-two week high of $99.06. The stock has a 50-day simple moving average of $82.93 and a 200-day simple moving average of $80.94. The company has a market capitalization of $1.99 billion, a P/E ratio of 10.80, a PEG ratio of 3.11 and a beta of 0.81.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $1.46 by $1.33. The business had revenue of $753.30 million during the quarter, compared to analyst estimates of $732.19 million. Spectrum Brands had a return on equity of 10.06% and a net margin of 2.76%. The company's revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.24 earnings per share. Equities research analysts expect that Spectrum Brands will post 6.26 earnings per share for the current year.

Hedge Funds Weigh In On Spectrum Brands

Hedge funds have recently bought and sold shares of the business. Diversified Trust Co bought a new stake in shares of Spectrum Brands in the third quarter valued at approximately $462,000. Fifth Third Bancorp grew its holdings in shares of Spectrum Brands by 7.4% during the third quarter. Fifth Third Bancorp now owns 12,746 shares of the company's stock worth $1,013,000 after purchasing an additional 879 shares during the last quarter. Ritholtz Wealth Management lifted its holdings in Spectrum Brands by 81.6% in the 3rd quarter. Ritholtz Wealth Management now owns 10,419 shares of the company's stock valued at $828,000 after purchasing an additional 4,681 shares in the last quarter. Fulcrum Asset Management LLP bought a new stake in Spectrum Brands during the third quarter valued at $61,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Spectrum Brands during the 3rd quarter valued at about $733,000.

About Spectrum Brands

Spectrum Brands Holdings, Inc NYSE: SPB is a consumer products company that develops, markets and distributes branded products for households and pets. The company sells its products through retailers, e-commerce channels and other distribution partners in the United States and international markets.

Spectrum Brands' Home and Personal Care portfolio includes small household appliances, personal-care products and related accessories sold under brands such as Remington, Russell Hobbs, George Foreman and Farberware.

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