Spectrum Brands (NYSE:SPB) Given Hold (C-) Rating at Weiss Ratings

Key Points

• Spectrum Brands (NYSE:SPB) received a "hold (C-)" rating from Weiss Ratings, reaffirming analysts' cautious stance towards the company.
• The company's stock has seen a price target range with Wells Fargo lowering it to $55.00, while Royal Bank of Canada set it at $75.00 with an "outperform" rating.
• Spectrum Brands recently reported earnings of $1.24 per share, falling slightly short of analysts' expectations, and experienced a 10.2% revenue decline compared to the previous year.

Spectrum Brands (NYSE:SPB - Get Free Report)'s stock had its "hold (c-)" rating reaffirmed by stock analysts at Weiss Ratings in a research note issued to investors on Friday,Weiss Ratings reports.

SPB has been the subject of a number of other reports. Wells Fargo & Company lowered their target price on 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. Royal Bank Of Canada set a $75.00 target price on Spectrum Brands and gave the company an "outperform" rating in a research note on Monday, August 11th. Wall Street Zen upgraded Spectrum Brands from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Canaccord Genuity Group lowered their price objective on Spectrum Brands from $77.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.80.

Spectrum Brands Stock Performance

Shares of NYSE:SPB opened at $55.71 on Friday. Spectrum Brands has a twelve month low of $49.99 and a twelve month high of $96.62. The firm has a market cap of $1.35 billion, a PE ratio of 20.79 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. The business has a fifty day moving average of $54.08 and a 200-day moving average of $56.66.

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

Institutional Trading of Spectrum Brands

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its position in shares of Spectrum Brands by 120.3% in the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the company's stock valued at $26,000 after acquiring an additional 267 shares during the period. Headlands Technologies LLC bought a new stake in Spectrum Brands in the second quarter valued at approximately $41,000. SJS Investment Consulting Inc. acquired a new stake in Spectrum Brands in the third quarter worth $47,000. State of Alaska Department of Revenue bought a new position in shares of Spectrum Brands during the third quarter worth $49,000. Finally, Blue Trust Inc. grew its holdings in shares of Spectrum Brands by 44.8% in the 2nd quarter. Blue Trust Inc. now owns 1,060 shares of the company's stock valued at $56,000 after buying an additional 328 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.