Spectrum Brands Holdings Inc. (NYSE:SPB) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Spectrum Brands Holdings has a consensus analyst rating of “Moderate Buy”, based on six covering firms: three rate it a hold and three rate it a buy. The average 12-month price target is $87.00.
• The company recently posted better-than-expected quarterly results, with EPS of $1.25 versus the $1.04 estimate and revenue of $708.9 million, up 4.9% year over year. Analysts now forecast full-year EPS of 5.32.
• Spectrum Brands also paid a quarterly dividend of $0.47, equal to an annualized yield of about 2.3%. CEO David M. Maura added to his stake by buying 2,500 shares in May.

Spectrum Brands Holdings Inc. (NYSE:SPB - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $87.00.

A number of equities analysts recently weighed in on SPB shares. Canaccord Genuity Group decreased their price objective on Spectrum Brands from $100.00 to $99.00 and set a "buy" rating on the stock in a report on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $81.00 price target on shares of Spectrum Brands in a research report on Friday, May 8th. Wells Fargo & Company boosted their price objective on shares of Spectrum Brands from $80.00 to $85.00 and gave the stock an "equal weight" rating in a report on Wednesday. Weiss Ratings raised shares of Spectrum Brands from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, April 24th. Finally, Wall Street Zen lowered shares of Spectrum Brands from a "buy" rating to a "hold" rating in a report on Sunday, June 21st.

Insider Buying and Selling

In other Spectrum Brands news, CEO David M. Maura bought 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average price of $72.85 per share, for a total transaction of $182,125.00. Following the completion of the acquisition, the chief executive officer directly owned 790,708 shares in the company, valued at $57,603,077.80. The trade was a 0.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.50% of the stock is owned by insiders.

Institutional Trading of Spectrum Brands

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. increased its position in Spectrum Brands by 35.1% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 5,094 shares of the company's stock valued at $437,000 after buying an additional 1,323 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Spectrum Brands by 437.2% in the second quarter. Assenagon Asset Management S.A. now owns 117,055 shares of the company's stock worth $10,037,000 after acquiring an additional 95,265 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Spectrum Brands by 52.6% during the first quarter. Pacer Advisors Inc. now owns 161,213 shares of the company's stock valued at $11,881,000 after acquiring an additional 55,563 shares in the last quarter. Empowered Funds LLC raised its position in shares of Spectrum Brands by 5.2% in the 1st quarter. Empowered Funds LLC now owns 93,632 shares of the company's stock worth $6,901,000 after purchasing an additional 4,612 shares during the last quarter. Finally, Glenmede Trust Co. NA purchased a new position in shares of Spectrum Brands in the 1st quarter worth about $311,000.

Spectrum Brands Stock Performance

Shares of NYSE SPB traded down $0.89 during midday trading on Friday, hitting $83.19. The company's stock had a trading volume of 276,360 shares, compared to its average volume of 369,156. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 15.88, a P/E/G ratio of 2.62 and a beta of 0.64. The company has a current ratio of 2.29, a quick ratio of 1.42 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average price of $81.52 and a 200 day moving average price of $75.40. Spectrum Brands has a one year low of $49.99 and a one year high of $88.14.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.04 by $0.21. Spectrum Brands had a return on equity of 8.23% and a net margin of 4.47%.The business had revenue of $708.90 million during the quarter, compared to the consensus estimate of $676.45 million. During the same quarter last year, the company earned $0.68 EPS. The firm's revenue was up 4.9% compared to the same quarter last year. On average, research analysts forecast that Spectrum Brands will post 5.32 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Tuesday, May 26th were given a $0.47 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.3%. Spectrum Brands's payout ratio is presently 35.88%.

About Spectrum Brands

Spectrum Brands Holdings, Inc is a global consumer products company that develops and markets a diverse portfolio of branded household and personal care products. Organized into four principal business segments—Hardware & Home Improvement, Home & Garden, Pet, and Appliances & Personal Care—the company offers a broad range of items including security and plumbing solutions, small electric appliances, grooming tools, and pet care accessories. Its hardware division features well-known brands such as Kwikset, Baldwin and Pfister, while the home appliance segment is anchored by names like Russell Hobbs and Remington.

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