Spectrum Brands (NYSE:SPB) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Key Points

• Spectrum Brands shares moved above their 200-day moving average, reaching $81.45 before closing near $79.99, compared with the $79.88 long-term average.
• Analyst sentiment is cautiously positive: four analysts rate the stock Buy and four rate it Hold, producing a consensus “Moderate Buy” rating and an average price target of $97.86.
• The company exceeded quarterly expectations, reporting $2.79 in EPS and $753.3 million in revenue, while maintaining a quarterly dividend of $0.47, equivalent to a 2.4% annualized yield.

Shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Get Free Report) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $79.88 and traded as high as $81.45. Spectrum Brands shares last traded at $79.9860, with a volume of 316,862 shares.

Wall Street Analyst Weigh In

SPB has been the topic of several analyst reports. Wells Fargo & Company dropped their price target on shares of Spectrum Brands from $90.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Monday, October 5th. Canaccord Genuity Group lifted their price objective on shares of Spectrum Brands from $99.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, August 10th. UBS Group started coverage on shares of Spectrum Brands in a research note on Thursday, October 15th. They issued a "buy" rating and a $97.00 price objective for the company. Weiss Ratings cut shares of Spectrum Brands from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Finally, Oppenheimer upped their price objective on shares of Spectrum Brands from $85.00 to $100.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $97.86.

Spectrum Brands Price Performance

The stock has a 50 day moving average of $83.68 and a two-hundred day moving average of $79.88. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.61 and a current ratio of 2.41. The firm has a market capitalization of $1.84 billion, a P/E ratio of 24.39, a P/E/G ratio of 2.85 and a beta of 0.78.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its earnings results on Friday, August 7th. The company reported $2.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $1.33. Spectrum Brands had a return on equity of 10.06% and a net margin of 2.76%. The firm had revenue of $753.30 million during the quarter, compared to analysts' expectations of $732.19 million. During the same quarter in the prior year, the business earned $1.24 earnings per share. The company's revenue was up 7.7% on a year-over-year basis. Sell-side analysts predict that Spectrum Brands Holdings Inc. will post 6.39 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, August 25th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Tuesday, August 25th. Spectrum Brands's payout ratio is presently 57.32%.

Institutional Trading of Spectrum Brands

Large investors have recently modified their holdings of the company. Signaturefd LLC lifted its position in Spectrum Brands by 115.9% during the 3rd quarter. Signaturefd LLC now owns 1,300 shares of the company's stock worth $103,000 after acquiring an additional 698 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in Spectrum Brands by 23.4% during the third quarter. Evergreen Capital Management LLC now owns 5,087 shares of the company's stock valued at $404,000 after acquiring an additional 965 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Spectrum Brands by 16.7% during the third quarter. Nisa Investment Advisors LLC now owns 2,934 shares of the company's stock valued at $233,000 after acquiring an additional 420 shares during the period. Counterpoint Mutual Funds LLC acquired a new stake in shares of Spectrum Brands in the third quarter valued at about $900,000. Finally, Assenagon Asset Management S.A. grew its position in shares of Spectrum Brands by 11.9% in the third quarter. Assenagon Asset Management S.A. now owns 130,948 shares of the company's stock valued at $10,412,000 after purchasing an additional 13,893 shares during the last quarter.

Spectrum Brands Company Profile

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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