Spectrum Brands (NYSE:SPB) Given New $65.00 Price Target at Wells Fargo & Company

Spectrum Brands (NYSE:SPB - Get Free Report) had its price target lowered by equities research analysts at Wells Fargo & Company from $75.00 to $65.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective suggests a potential upside of 11.97% from the company's previous close.

SPB has been the topic of a number of other reports. Canaccord Genuity Group raised shares of Spectrum Brands from a "hold" rating to a "buy" rating and boosted their price target for the company from $94.00 to $102.00 in a research note on Friday, February 7th. UBS Group decreased their price target on Spectrum Brands from $114.00 to $109.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Finally, Royal Bank of Canada dropped their price objective on Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Spectrum Brands has a consensus rating of "Moderate Buy" and an average price target of $95.43.

Spectrum Brands Trading Down 2.9 %

Shares of Spectrum Brands stock traded down $1.76 during mid-day trading on Wednesday, hitting $58.05. The stock had a trading volume of 126,557 shares, compared to its average volume of 404,884. The firm has a market cap of $1.53 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 1.70 and a beta of 1.03. The company has a quick ratio of 1.53, a current ratio of 2.40 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average of $70.64 and a two-hundred day moving average of $82.03. Spectrum Brands has a 12-month low of $55.79 and a 12-month high of $96.74.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $1.02 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. During the same period in the prior year, the company earned $0.78 EPS. Sell-side analysts forecast that Spectrum Brands will post 5.06 earnings per share for the current year.

Hedge Funds Weigh In On Spectrum Brands

A number of institutional investors and hedge funds have recently made changes to their positions in SPB. Anchor Capital Advisors LLC increased its position in shares of Spectrum Brands by 1.2% in the 4th quarter. Anchor Capital Advisors LLC now owns 15,596 shares of the company's stock valued at $1,318,000 after purchasing an additional 184 shares during the last quarter. Fox Run Management L.L.C. lifted its holdings in Spectrum Brands by 5.3% during the 4th quarter. Fox Run Management L.L.C. now owns 3,645 shares of the company's stock worth $308,000 after buying an additional 185 shares during the last quarter. Legato Capital Management LLC boosted its holdings in Spectrum Brands by 2.2% in the fourth quarter. Legato Capital Management LLC now owns 9,299 shares of the company's stock valued at $786,000 after purchasing an additional 198 shares in the last quarter. Pullen Investment Management LLC grew its position in shares of Spectrum Brands by 2.8% in the 1st quarter. Pullen Investment Management LLC now owns 12,361 shares of the company's stock valued at $884,000 after buying an additional 333 shares during the last quarter. Finally, Humankind Investments LLC grew its holdings in shares of Spectrum Brands by 7.5% during the fourth quarter. Humankind Investments LLC now owns 5,104 shares of the company's stock worth $431,000 after purchasing an additional 355 shares during 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.