Canaccord Genuity Group Boosts Spectrum Brands (NYSE:SPB) Price Target to $92.00

Spectrum Brands (NYSE:SPB - Get Free Report) had its price objective raised by investment analysts at Canaccord Genuity Group from $86.00 to $92.00 in a report released on Friday, Benzinga reports. The firm presently has a "hold" rating on the stock. Canaccord Genuity Group's price objective suggests a potential downside of 2.95% from the stock's previous close.

A number of other research analysts have also issued reports on the company. Oppenheimer boosted their price objective on Spectrum Brands from $88.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday. Royal Bank of Canada increased their price objective on shares of Spectrum Brands from $100.00 to $114.00 and gave the stock an "outperform" rating in a report on Friday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Spectrum Brands from $85.00 to $91.00 and gave the company a "hold" rating in a research note on Friday. Canaccord Genuity Group lowered shares of Spectrum Brands from a "buy" rating to a "hold" rating and raised their price target for the company from $83.00 to $86.00 in a research note on Friday, February 9th. Finally, Wells Fargo & Company lifted their price target on Spectrum Brands from $85.00 to $95.00 and gave the company an "equal weight" rating in a report on Friday. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $99.86.

Spectrum Brands Stock Up 0.2 %

Shares of SPB stock traded up $0.19 on Friday, hitting $94.80. The stock had a trading volume of 693,382 shares, compared to its average volume of 383,155. The stock's 50 day moving average is $83.58 and its 200-day moving average is $79.58. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 2.04, a P/E/G ratio of 0.59 and a beta of 1.20. Spectrum Brands has a 52-week low of $65.27 and a 52-week high of $96.74. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.75 and a current ratio of 3.36.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its earnings results on Thursday, May 9th. The company reported $1.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $1.13. Spectrum Brands had a net margin of 63.89% and a return on equity of 4.66%. The business had revenue of $718.50 million for the quarter, compared to analyst estimates of $708.54 million. During the same quarter in the prior year, the business posted ($0.14) EPS. The company's revenue for the quarter was down 1.5% on a year-over-year basis. As a group, research analysts expect that Spectrum Brands will post 3.79 earnings per share for the current year.

Institutional Investors Weigh In On Spectrum Brands

A number of institutional investors and hedge funds have recently bought and sold shares of SPB. Larson Financial Group LLC increased its stake in Spectrum Brands by 72.6% in the 4th quarter. Larson Financial Group LLC now owns 359 shares of the company's stock worth $29,000 after purchasing an additional 151 shares in the last quarter. Arizona State Retirement System increased its position in shares of Spectrum Brands by 1.4% in the third quarter. Arizona State Retirement System now owns 11,675 shares of the company's stock worth $915,000 after acquiring an additional 158 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Spectrum Brands by 53.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the company's stock valued at $36,000 after acquiring an additional 160 shares during the period. Principal Financial Group Inc. lifted its stake in Spectrum Brands by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,156 shares of the company's stock worth $247,000 after acquiring an additional 166 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in shares of Spectrum Brands by 0.8% during the third quarter. GSA Capital Partners LLP now owns 27,453 shares of the company's stock worth $2,151,000 after purchasing an additional 226 shares during the period.

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.

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