Spectrum Brands (NYSE:SPB) Sets New 1-Year Low - What's Next?

Spectrum Brands Holdings, Inc. (NYSE:SPB - Get Free Report) reached a new 52-week low on Monday . The company traded as low as $55.53 and last traded at $55.78, with a volume of 61465 shares traded. The stock had previously closed at $57.77.

Analysts Set New Price Targets

SPB has been the subject of a number of research reports. Royal Bank of Canada reduced their price objective on Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Canaccord Genuity Group upgraded Spectrum Brands from a "hold" rating to a "buy" rating and lifted their price target for the company from $94.00 to $102.00 in a report on Friday, February 7th. Monness Crespi & Hardt dropped their price objective on Spectrum Brands from $106.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. UBS Group raised their price objective on shares of Spectrum Brands from $76.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, Wells Fargo & Company decreased their target price on shares of Spectrum Brands from $75.00 to $65.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Spectrum Brands has an average rating of "Moderate Buy" and an average price target of $89.17.

Spectrum Brands Trading Down 0.2%

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 company has a fifty day moving average of $61.65 and a two-hundred day moving average of $75.18. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 1.70 and a beta of 0.93.

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

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th will be issued a dividend of $0.47 per share. The ex-dividend date is Tuesday, May 27th. This represents a $1.88 annualized dividend and a dividend yield of 3.37%. Spectrum Brands's payout ratio is 89.95%.

Insider Activity at Spectrum Brands

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

Hedge Funds Weigh In On Spectrum Brands

A number of hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC bought a new position in shares of Spectrum Brands during the fourth quarter valued at $50,000. Versant Capital Management Inc grew its holdings in Spectrum Brands by 101.7% during the 1st quarter. Versant Capital Management Inc now owns 970 shares of the company's stock worth $69,000 after acquiring an additional 489 shares during the last quarter. Blue Trust Inc. increased its position in Spectrum Brands by 46.5% in the 4th quarter. Blue Trust Inc. now owns 1,182 shares of the company's stock valued at $100,000 after acquiring an additional 375 shares in the last quarter. KBC Group NV increased its position in Spectrum Brands by 46.3% in the 4th quarter. KBC Group NV now owns 1,233 shares of the company's stock valued at $104,000 after acquiring an additional 390 shares in the last quarter. Finally, New York State Teachers Retirement System bought a new position in shares of Spectrum Brands in the first quarter worth about $118,000.

About Spectrum Brands

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.