Spectrum Brands (NYSE:SPB) Stock Rating Lowered by Wall Street Zen

Key Points

• Spectrum Brands has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, signaling declining confidence in the stock's performance.
• Despite the downgrade, the stock has a current consensus rating of "Moderate Buy" with an average price target of $73.80 based on several analysts’ evaluations.
• In its latest quarterly earnings report, Spectrum Brands posted an EPS of $1.24, missing analyst expectations and indicating a 10.2% decline in revenue compared to the previous year.

Spectrum Brands (NYSE:SPB - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

A number of other brokerages also recently issued reports on SPB. Weiss Ratings reiterated a "hold (c-)" rating on shares of Spectrum Brands in a report on Friday. Royal Bank Of Canada set a $75.00 price target on shares of Spectrum Brands and gave the company an "outperform" rating in a report on Monday, August 11th. Canaccord Genuity Group dropped their target price on shares of Spectrum Brands from $77.00 to $75.00 and set a "buy" rating for the company in a report on Friday, August 8th. Finally, Wells Fargo & Company dropped their target price on shares of Spectrum Brands from $60.00 to $55.00 and set an "equal weight" rating for the company in a report on Thursday, September 25th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $73.80.

Spectrum Brands Stock Performance

Shares of SPB opened at $55.71 on Friday. The company has a 50-day simple moving average of $54.08 and a 200-day simple moving average of $56.66. The company has a quick ratio of 1.50, a current ratio of 2.42 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $1.35 billion, a PE ratio of 20.79 and a beta of 0.81. Spectrum Brands has a 52-week low of $49.99 and a 52-week high of $96.62.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $1.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.25 by ($0.01). The company had revenue of $699.60 million during the quarter, compared to analysts' expectations of $742.13 million. Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. The business's revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.13 EPS. Equities research analysts predict that Spectrum Brands will post 5.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spectrum Brands

Several hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new stake in shares of Spectrum Brands during the 3rd quarter worth about $49,000. SG Americas Securities LLC boosted its stake in shares of Spectrum Brands by 261.9% during the 3rd quarter. SG Americas Securities LLC now owns 14,895 shares of the company's stock worth $782,000 after purchasing an additional 10,779 shares during the last quarter. KLP Kapitalforvaltning AS boosted its stake in shares of Spectrum Brands by 13.6% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 8,380 shares of the company's stock worth $440,000 after purchasing an additional 1,000 shares during the last quarter. SJS Investment Consulting Inc. acquired a new stake in shares of Spectrum Brands during the 3rd quarter worth about $47,000. Finally, Rice Hall James & Associates LLC acquired a new stake in shares of Spectrum Brands during the 3rd quarter worth about $1,437,000.

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.

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