Spectrum Brands Holdings Inc. (NYSE:SPB) Stock Now Rated "Hold" by Wall Street Analysts

Key Points

• Analysts have a “Hold” consensus on Spectrum Brands, with four hold ratings and three buys; the average 12-month price target is $98.83.
• Spectrum Brands exceeded quarterly expectations, reporting $2.79 in EPS versus a $1.46 estimate and $753.3 million in revenue, up 7.7% year over year.
• The company paid a quarterly dividend of $0.47 per share, equivalent to an annualized $1.88 dividend and a 2.2% yield.

Spectrum Brands Holdings Inc. (NYSE:SPB - Get Free Report) has earned an average rating of "Hold" from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $98.83.

A number of equities research analysts have recently commented on SPB shares. Weiss Ratings downgraded Spectrum Brands from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Oppenheimer lifted their target price on Spectrum Brands from $85.00 to $100.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. Monness Crespi & Hardt boosted their target price on Spectrum Brands from $86.00 to $105.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Royal Bank Of Canada downgraded Spectrum Brands from an "outperform" rating to a "sector perform" rating and upped their target price for the company from $85.00 to $92.00 in a report on Monday, August 10th. Finally, Wall Street Zen upgraded Spectrum Brands from a "hold" rating to a "buy" rating in a research report on Saturday, September 5th.

Spectrum Brands Stock Performance

Shares of SPB opened at $84.89 on Friday. The firm's 50 day moving average is $87.96 and its 200-day moving average is $82.86. The stock has a market capitalization of $1.95 billion, a P/E ratio of 25.88, a P/E/G ratio of 2.78 and a beta of 0.65. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.41 and a quick ratio of 1.61. Spectrum Brands has a 12-month low of $49.99 and a 12-month high of $99.06.

Spectrum Brands (NYSE:SPB - Get Free Report) last released its earnings results on Friday, August 7th. The company reported $2.79 EPS 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 net margin of 2.76% and a return on equity of 10.06%. The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.24 earnings per share. Equities research analysts anticipate that Spectrum Brands will post 6.38 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Tuesday, August 25th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Tuesday, August 25th. Spectrum Brands's dividend payout ratio (DPR) is presently 57.32%.

Hedge Funds Weigh In On Spectrum Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new stake in Spectrum Brands during the 2nd quarter valued at $27,000. Allworth Financial LP acquired a new stake in shares of Spectrum Brands in the second quarter worth $29,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Spectrum Brands by 96.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company's stock valued at $37,000 after buying an additional 310 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Spectrum Brands during the second quarter valued at $70,000. Finally, Nykredit A S acquired a new position in Spectrum Brands during the second quarter valued at $102,000.

Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc NYSE: SPB is a global branded consumer products company headquartered in Middleton, Wisconsin. The company develops, markets and distributes products for household, personal care and pet-care needs, selling through mass retailers, specialty stores, e-commerce channels and other outlets.

Its portfolio has included well-known brands such as Remington personal-care products, Black+Decker-branded small appliances under license, Russell Hobbs and Farberware kitchen products, and Pfister plumbing products.

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