Weiss Ratings Reaffirms Hold (C-) Rating for Spectrum Brands (NYSE:SPB)

Key Points

• Weiss Ratings has reaffirmed its "hold (C-)" rating for Spectrum Brands (NYSE:SPB) amid ongoing evaluations from multiple research firms.
• Analysts have set varying price targets for Spectrum Brands, with a consensus rating of "Moderate Buy" and a price target of $73.80.
• Spectrum Brands reported a 10.2% decrease in revenue year-over-year, missing analysts' consensus estimates in its recent quarterly earnings.

Spectrum Brands (NYSE:SPB - Get Free Report)'s stock had its "hold (c-)" rating reissued by stock analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research firms have also recently issued reports on SPB. Canaccord Genuity Group decreased their price target 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. Wall Street Zen upgraded shares of Spectrum Brands from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Royal Bank Of Canada set a $75.00 target price on shares of Spectrum Brands and gave the company an "outperform" rating in a research note on Monday, August 11th. Finally, Wells Fargo & Company reduced 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 research note on Thursday, September 25th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.80.

Spectrum Brands Stock Performance

SPB stock traded down $0.21 during mid-day trading on Wednesday, reaching $52.19. 319,627 shares of the stock traded hands, compared to its average volume of 382,959. The company has a quick ratio of 1.50, a current ratio of 2.42 and a debt-to-equity ratio of 0.35. Spectrum Brands has a 52 week low of $50.73 and a 52 week high of $96.62. The business has a 50-day moving average of $54.66 and a two-hundred day moving average of $57.89. The firm has a market capitalization of $1.26 billion, a PE ratio of 19.47 and a beta of 0.81.

Spectrum Brands (NYSE:SPB - Get Free Report) last released 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). Spectrum Brands had a net margin of 2.56% and a return on equity of 5.27%. The firm had revenue of $699.60 million for the quarter, compared to the consensus estimate of $742.13 million. During the same quarter last year, the company earned $1.13 earnings per share. The firm's revenue was down 10.2% on a year-over-year basis. As a group, equities analysts predict that Spectrum Brands will post 5.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in Spectrum Brands by 120.3% in the second quarter. GAMMA Investing LLC now owns 489 shares of the company's stock worth $26,000 after purchasing an additional 267 shares in the last quarter. Headlands Technologies LLC acquired a new position in Spectrum Brands in the second quarter worth about $41,000. Blue Trust Inc. raised its position in Spectrum Brands by 44.8% in the second quarter. Blue Trust Inc. now owns 1,060 shares of the company's stock worth $56,000 after purchasing an additional 328 shares in the last quarter. New York State Teachers Retirement System acquired a new position in Spectrum Brands in the first quarter worth about $118,000. Finally, Nisa Investment Advisors LLC raised its position in Spectrum Brands by 13.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,767 shares of the company's stock worth $94,000 after purchasing an additional 215 shares in the last quarter.

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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