Spectrum Brands (NYSE:SPB) Reaches New 1-Year High - Here's Why

Key Points

• Spectrum Brands' stock hit a new 52-week high of $85.49 (last trading around $82.55) as analysts lifted price targets — Oppenheimer to $85 and Wells Fargo to $80 — leaving a consensus rating of Moderate Buy and an average target of $83.
• The company posted a strong quarterly beat with EPS of $1.40 (vs. $0.77 expected) and revenue of $677 million (slightly above estimates) despite revenue being down 3.3% year‑over‑year.
• Spectrum Brands has a market cap of $1.92 billion, a P/E of 19.06, and pays a $0.47 quarterly dividend (annualized yield 2.3%, payout ratio ~43%), with 50- and 200-day moving averages at $76.78 and $65.38 respectively.

Spectrum Brands Holdings Inc. (NYSE:SPB - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The stock traded as high as $85.49 and last traded at $82.5470, with a volume of 388141 shares. The stock had previously closed at $85.41.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on Spectrum Brands from $62.00 to $80.00 and gave the stock an "equal weight" rating in a report on Friday, February 6th. Weiss Ratings reissued a "hold (c)" rating on shares of Spectrum Brands in a report on Friday, March 27th. Royal Bank Of Canada set a $85.00 price target on Spectrum Brands in a report on Friday, February 6th. Finally, Oppenheimer lifted their price target on Spectrum Brands from $75.00 to $85.00 and gave the stock an "outperform" rating in a report on Friday, February 6th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $83.00.

Spectrum Brands Stock Performance

The company has a 50 day moving average price of $76.78 and a 200-day moving average price of $65.38. The company has a current ratio of 2.21, a quick ratio of 1.38 and a debt-to-equity ratio of 0.29. The company has a market cap of $1.92 billion, a P/E ratio of 19.06, a price-to-earnings-growth ratio of 2.88 and a beta of 0.63.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.63. Spectrum Brands had a return on equity of 7.65% and a net margin of 3.76%.The company had revenue of $677.00 million for the quarter, compared to analyst estimates of $667.59 million. During the same quarter last year, the company posted $1.02 EPS. The company's revenue for the quarter was down 3.3% compared to the same quarter last year. On average, equities analysts expect that Spectrum Brands Holdings Inc. will post 4.9 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th were paid a $0.47 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $1.88 annualized dividend and a dividend yield of 2.3%. Spectrum Brands's dividend payout ratio (DPR) is presently 43.42%.

Hedge Funds Weigh In On Spectrum Brands

Several hedge funds and other institutional investors have recently modified their holdings of the business. American Century Companies Inc. grew its position in Spectrum Brands by 14.5% during the 3rd quarter. American Century Companies Inc. now owns 2,052,850 shares of the company's stock worth $107,836,000 after acquiring an additional 260,085 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in Spectrum Brands by 88.3% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 22,618 shares of the company's stock worth $1,188,000 after acquiring an additional 10,605 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Spectrum Brands during the 3rd quarter worth $994,000. Rovida Advisors Inc. grew its position in Spectrum Brands by 1,140.4% during the 3rd quarter. Rovida Advisors Inc. now owns 60,000 shares of the company's stock worth $3,150,000 after acquiring an additional 55,163 shares during the last quarter. Finally, Callodine Capital Management LP grew its position in Spectrum Brands by 26.7% during the 3rd quarter. Callodine Capital Management LP now owns 1,714,955 shares of the company's stock worth $90,087,000 after acquiring an additional 360,898 shares during the last quarter.

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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