Spectrum Brands (NYSE:SPB) Sets New 52-Week High - Here's What Happened

Key Points

• Spectrum Brands hit a new 52-week high — the stock traded as high as $80.44 (last $80.15) on Thursday with about 104,507 shares changing hands, while analysts have raised targets (average price target $83) and the consensus rating is a "Moderate Buy" (five Buy, two Hold).
• Quarterly results beat expectations — the company reported $1.40 EPS versus a $0.77 consensus and $677M in revenue vs. $667.6M expected, though revenue fell 3.3% year-over-year; Spectrum also pays a $0.47 quarterly dividend (2.4% yield) and has a $1.85B market cap with a P/E of ~18.5.

Spectrum Brands Holdings Inc. (NYSE:SPB - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $80.44 and last traded at $80.15, with a volume of 104507 shares traded. The stock had previously closed at $78.64.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Spectrum Brands from $62.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Friday, February 6th. Oppenheimer boosted their price target on shares of Spectrum Brands from $75.00 to $85.00 and gave the company an "outperform" 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. Finally, Royal Bank Of Canada set a $85.00 price objective on shares of Spectrum Brands in a report on Friday, February 6th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $83.00.

Spectrum Brands Trading Up 1.7%

The company has a quick ratio of 1.38, a current ratio of 2.21 and a debt-to-equity ratio of 0.29. The firm's 50-day simple moving average is $74.72 and its 200 day simple moving average is $63.51. The stock has a market capitalization of $1.85 billion, a P/E ratio of 18.47, a PEG ratio of 2.48 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 EPS for the quarter, topping the consensus estimate of $0.77 by $0.63. Spectrum Brands had a net margin of 3.76% and a return on equity of 7.65%. The firm had revenue of $677.00 million for the quarter, compared to analysts' expectations of $667.59 million. During the same period in the previous year, the business earned $1.02 earnings per share. Spectrum Brands's revenue for the quarter was down 3.3% compared to the same quarter last year. Equities research analysts anticipate that Spectrum Brands Holdings Inc. 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, March 10th. Shareholders of record on Tuesday, February 17th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.4%. The ex-dividend date was Tuesday, February 17th. Spectrum Brands's payout ratio is presently 43.42%.

Institutional Trading of Spectrum Brands

Several institutional investors and hedge funds have recently bought and sold shares of the stock. ProShare Advisors LLC raised its holdings in Spectrum Brands by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 4,721 shares of the company's stock worth $279,000 after buying an additional 140 shares during the period. Federated Hermes Inc. increased its holdings in Spectrum Brands by 1.3% in the fourth quarter. Federated Hermes Inc. now owns 12,048 shares of the company's stock worth $712,000 after buying an additional 157 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Spectrum Brands by 96.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company's stock worth $37,000 after buying an additional 310 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Spectrum Brands by 111.7% in the fourth quarter. Farther Finance Advisors LLC now owns 635 shares of the company's stock worth $38,000 after buying an additional 335 shares during the last quarter. Finally, CWM LLC increased its holdings in Spectrum Brands by 58.2% in the fourth quarter. CWM LLC now owns 1,237 shares of the company's stock worth $73,000 after buying an additional 455 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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