Spectrum Brands (NYSE:SPB) Given a $77.00 Price Target at Canaccord Genuity Group

Canaccord Genuity Group set a $77.00 price objective on Spectrum Brands (NYSE:SPB - Free Report) in a research report sent to investors on Wednesday, Marketbeat Ratings reports. The firm currently has a buy rating on the stock.

Several other analysts have also recently weighed in on the company. UBS Group raised their price target on Spectrum Brands from $76.00 to $78.00 and gave the company a "buy" rating in a report on Friday, May 9th. Monness Crespi & Hardt lowered their price target on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Finally, Wells Fargo & Company lowered their price target on Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $85.00.

Spectrum Brands Price Performance

NYSE SPB traded down $0.46 during trading hours on Wednesday, hitting $52.91. The company had a trading volume of 4,157,788 shares, compared to its average volume of 443,220. Spectrum Brands has a 52 week low of $50.73 and a 52 week high of $96.62. The firm has a 50 day simple moving average of $58.71 and a 200 day simple moving average of $70.72. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.40 and a current ratio of 2.34. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 25.31 and a beta of 0.93.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.67). Spectrum Brands had a return on equity of 5.20% and a net margin of 2.02%. The company had revenue of $675.70 million during the quarter, compared to the consensus estimate of $701.00 million. During the same quarter in the prior year, the business earned $1.62 EPS. The firm's revenue for the quarter was down 6.0% compared to the same quarter last year. Equities research analysts expect that Spectrum Brands will post 5.06 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th were issued a dividend of $0.47 per share. The ex-dividend date was Tuesday, May 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.55%. Spectrum Brands's dividend payout ratio is 89.95%.

Insider Activity at Spectrum Brands

In related news, CEO David M. Maura sold 5,180 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $63.77, for a total transaction of $330,328.60. Following the transaction, the chief executive officer now directly owns 718,427 shares of the company's stock, valued at approximately $45,814,089.79. This trade represents a 0.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Spectrum Brands

A number of large investors have recently modified their holdings of SPB. AQR Capital Management LLC raised its holdings in shares of Spectrum Brands by 142.5% during the 1st quarter. AQR Capital Management LLC now owns 634,137 shares of the company's stock valued at $44,592,000 after buying an additional 372,630 shares in the last quarter. Callodine Capital Management LP grew its position in Spectrum Brands by 38.4% during the 1st quarter. Callodine Capital Management LP now owns 730,000 shares of the company's stock worth $52,232,000 after acquiring an additional 202,500 shares during the last quarter. Man Group plc grew its position in Spectrum Brands by 160.5% during the 4th quarter. Man Group plc now owns 320,178 shares of the company's stock worth $27,052,000 after acquiring an additional 197,263 shares during the last quarter. Wealthfront Advisers LLC bought a new position in Spectrum Brands during the 4th quarter worth approximately $16,606,000. Finally, Two Sigma Advisers LP grew its position in Spectrum Brands by 403.9% during the 4th quarter. Two Sigma Advisers LP now owns 233,800 shares of the company's stock worth $19,754,000 after acquiring an additional 187,400 shares during the last quarter.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. 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, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.