Spectrum Brands (NYSE:SPB) Stock Price Expected to Rise, Monness Crespi & Hardt Analyst Says

Key Points

• Monness Crespi & Hardt raised Spectrum Brands’ price target from $86 to $105 and maintained a “buy” rating, implying 16.32% upside from the previous close. Canaccord Genuity also lifted its target to $110, though the overall analyst consensus remains “Hold” with an average target of $93.
• Spectrum Brands reported quarterly EPS of $2.79, well above the $1.46 consensus estimate, while revenue reached $753.3 million and increased 7.7% year over year.
• The stock opened at $90.27 and has climbed from a 52-week low of $49.99, with shares trading near the $99.06 52-week high; CEO David M. Maura also purchased 2,500 shares.

Spectrum Brands (NYSE:SPB - Get Free Report) had its target price raised by analysts at Monness Crespi & Hardt from $86.00 to $105.00 in a report issued on Monday. The brokerage currently has a "buy" rating on the stock. Monness Crespi & Hardt's target price would suggest a potential upside of 16.32% from the company's previous close.

A number of other brokerages also recently commented on SPB. Canaccord Genuity Group upped their price objective on shares of Spectrum Brands from $99.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday. Wells Fargo & Company lifted their target price on shares of Spectrum Brands from $80.00 to $85.00 and gave the company an "equal weight" rating in a report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $81.00 price target on shares of Spectrum Brands in a research note on Friday, May 8th. Wall Street Zen cut shares of Spectrum Brands from a "buy" rating to a "hold" rating in a report on Sunday, June 21st. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Spectrum Brands in a research report on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Spectrum Brands currently has an average rating of "Hold" and an average target price of $93.00.

Spectrum Brands Stock Up 0.2%

Shares of NYSE:SPB opened at $90.27 on Monday. The firm has a fifty day moving average price of $85.44 and a 200 day moving average price of $79.33. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.29 and a quick ratio of 1.42. The stock has a market cap of $2.08 billion, a P/E ratio of 27.52, a P/E/G ratio of 2.83 and a beta of 0.63. Spectrum Brands has a 1-year low of $49.99 and a 1-year high of $99.06.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The company reported $2.79 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $1.33. The company had revenue of $753.30 million during the quarter, compared to analysts' expectations of $732.19 million. Spectrum Brands had a return on equity of 9.99% and a net margin of 2.76%.The firm's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $1.24 EPS. Sell-side analysts predict that Spectrum Brands will post 5.32 EPS for the current year.

Insider Activity

In related news, CEO David M. Maura acquired 2,500 shares of Spectrum Brands stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average price of $72.85 per share, for a total transaction of $182,125.00. Following the completion of the purchase, the chief executive officer directly owned 790,708 shares of the company's stock, valued at approximately $57,603,077.80. This trade represents a 0.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC acquired a new stake in shares of Spectrum Brands during the 2nd quarter valued at approximately $27,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Spectrum Brands by 7,237.5% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 587 shares of the company's stock worth $31,000 after acquiring an additional 579 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in Spectrum Brands by 96.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 630 shares of the company's stock valued at $37,000 after purchasing an additional 310 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Spectrum Brands by 111.7% in the 4th quarter. Farther Finance Advisors LLC now owns 635 shares of the company's stock valued at $38,000 after purchasing an additional 335 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in Spectrum Brands during the second quarter worth $41,000.

Spectrum Brands Company Profile

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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