Spectrum Brands Holdings Inc. (NYSE:SPB) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Spectrum Brands Holdings Inc. has received a consensus rating of "Moderate Buy" from six rating firms, with an average price target of $73.80.
• Institutional investors have shown increased interest in the company, with GAMMA Investing LLC boosting its stake by 120.3% during the second quarter.
• The company recently announced a quarterly dividend of $0.47 per share, resulting in an annualized dividend of $1.88 and a yield of 3.6%.

Shares of Spectrum Brands Holdings Inc. (NYSE:SPB - Get Free Report) have earned a consensus rating of "Moderate Buy" from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $73.80.

A number of brokerages have recently issued reports on SPB. Royal Bank Of Canada set a $75.00 price objective on shares of Spectrum Brands and gave the company an "outperform" rating in a research note on Monday, August 11th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Spectrum Brands in a research note on Wednesday. Wall Street Zen raised shares of Spectrum Brands from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Wells Fargo & Company cut their price objective on shares of Spectrum Brands from $60.00 to $55.00 and set an "equal weight" rating for the company in a research note on Thursday, September 25th. Finally, Canaccord Genuity Group cut their price objective on shares of Spectrum Brands from $77.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, August 8th.

Institutional Trading of Spectrum Brands

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in shares of Spectrum Brands by 120.3% during the second quarter. GAMMA Investing LLC now owns 489 shares of the company's stock valued at $26,000 after purchasing an additional 267 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Spectrum Brands during the second quarter valued at approximately $41,000. Blue Trust Inc. lifted its holdings in Spectrum Brands by 44.8% in the 2nd quarter. Blue Trust Inc. now owns 1,060 shares of the company's stock worth $56,000 after buying an additional 328 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Spectrum Brands by 13.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,767 shares of the company's stock worth $94,000 after buying an additional 215 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Spectrum Brands in the 2nd quarter worth approximately $103,000.

Spectrum Brands Stock Down 0.4%

Shares of NYSE:SPB opened at $52.19 on Thursday. Spectrum Brands has a 52-week low of $50.73 and a 52-week high of $96.62. The firm has a fifty day moving average of $54.66 and a 200 day moving average of $57.89. The firm has a market capitalization of $1.26 billion, a PE ratio of 19.47 and a beta of 0.81. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.50 and a current ratio of 2.42.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.01). Spectrum Brands had a return on equity of 5.27% and a net margin of 2.56%.The company had revenue of $699.60 million during the quarter, compared to analysts' expectations of $742.13 million. During the same quarter last year, the firm posted $1.13 earnings per share. The firm's revenue was down 10.2% on a year-over-year basis. As a group, research analysts anticipate that Spectrum Brands will post 5.06 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Tuesday, August 26th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, August 26th. Spectrum Brands's dividend payout ratio is 70.15%.

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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