Monness Crespi & Hardt Cuts Spectrum Brands (NYSE:SPB) Price Target to $86.00

Spectrum Brands (NYSE:SPB - Free Report) had its target price lowered by Monness Crespi & Hardt from $106.00 to $86.00 in a research note issued to investors on Wednesday morning, MarketBeat.com reports. Monness Crespi & Hardt currently has a buy rating on the stock.

Other analysts have also recently issued research reports about the stock. Canaccord Genuity Group upgraded shares of Spectrum Brands from a "hold" rating to a "buy" rating and increased their price target for the stock from $94.00 to $102.00 in a research note on Friday, February 7th. UBS Group increased their price target on shares of Spectrum Brands from $76.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Wells Fargo & Company decreased their price target on shares of Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Royal Bank of Canada decreased their price target on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $89.17.

Spectrum Brands Stock Up 1.5%

Shares of NYSE SPB traded up $0.95 during mid-day trading on Wednesday, reaching $65.50. The company had a trading volume of 407,854 shares, compared to its average volume of 418,722. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. The firm has a 50 day simple moving average of $65.18 and a two-hundred day simple moving average of $78.40. The stock has a market cap of $1.64 billion, a P/E ratio of 16.09, a PEG ratio of 1.70 and a beta of 1.00. Spectrum Brands has a 52-week low of $56.50 and a 52-week high of $96.62.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $1.35 by ($0.67). The company had revenue of $675.70 million during the quarter, compared to analysts' expectations of $701.00 million. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. The company's quarterly revenue was down 6.0% on a year-over-year basis. During the same period last year, the business earned $1.62 earnings per share. Sell-side analysts predict that Spectrum Brands will post 5.06 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Tuesday, May 27th. Spectrum Brands's dividend payout ratio (DPR) is presently 89.95%.

Insider Transactions at Spectrum Brands

In other news, CEO David M. Maura sold 5,180 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $63.77, for a total value of $330,328.60. Following the completion of the sale, the chief executive officer now owns 718,427 shares in the company, valued at approximately $45,814,089.79. This trade represents a 0.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.60% of the company's stock.

Institutional Trading of Spectrum Brands

Several hedge funds have recently made changes to their positions in the company. Caxton Associates LLP acquired a new stake in shares of Spectrum Brands in the 1st quarter worth $1,849,000. Goldman Sachs Group Inc. lifted its stake in shares of Spectrum Brands by 40.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 393,084 shares of the company's stock worth $28,125,000 after acquiring an additional 114,143 shares during the period. Parkwood LLC lifted its stake in shares of Spectrum Brands by 9.9% in the 1st quarter. Parkwood LLC now owns 137,524 shares of the company's stock worth $9,840,000 after acquiring an additional 12,406 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Spectrum Brands by 173.0% in the 1st quarter. NewEdge Advisors LLC now owns 5,389 shares of the company's stock valued at $386,000 after purchasing an additional 3,415 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Spectrum Brands by 64.7% in the 1st quarter. Millennium Management LLC now owns 166,496 shares of the company's stock valued at $11,913,000 after purchasing an additional 65,424 shares in the last quarter.

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.