Royal Bank of Canada Increases Spectrum Brands (NYSE:SPB) Price Target to $100.00

Spectrum Brands (NYSE:SPBFree Report) had its target price lifted by Royal Bank of Canada from $89.00 to $100.00 in a research note released on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

SPB has been the subject of several other research reports. StockNews.com raised shares of Spectrum Brands from a sell rating to a hold rating in a research report on Saturday, December 30th. Canaccord Genuity Group restated a hold rating and issued a $86.00 price target (up from $83.00) on shares of Spectrum Brands in a report on Friday. Monness Crespi & Hardt upped their price objective on shares of Spectrum Brands from $87.00 to $98.00 and gave the company a buy rating in a report on Friday. Canaccord Genuity Group downgraded Spectrum Brands from a buy rating to a hold rating and raised their target price for the company from $83.00 to $86.00 in a research note on Friday. Finally, Wells Fargo & Company upped their price target on Spectrum Brands from $75.00 to $85.00 and gave the stock an equal weight rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $88.86.

View Our Latest Research Report on SPB

Spectrum Brands Price Performance

Shares of NYSE SPB opened at $87.78 on Friday. The company has a quick ratio of 2.75, a current ratio of 3.36 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $2.66 billion, a PE ratio of 1.90, a P/E/G ratio of 0.75 and a beta of 1.19. The firm has a fifty day simple moving average of $78.95 and a 200 day simple moving average of $77.54. Spectrum Brands has a twelve month low of $56.69 and a twelve month high of $88.11.

Spectrum Brands (NYSE:SPBGet Free Report) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.47. Spectrum Brands had a return on equity of 4.66% and a net margin of 63.89%. The firm had revenue of $692.20 million during the quarter, compared to analyst estimates of $674.20 million. During the same period last year, the company posted ($0.32) EPS. The business’s quarterly revenue was down 3.0% on a year-over-year basis. On average, sell-side analysts forecast that Spectrum Brands will post 3.81 EPS for the current year.

Spectrum Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.91%. Spectrum Brands’s dividend payout ratio is presently 3.65%.

Insider Buying and Selling at Spectrum Brands

In related news, CEO David M. Maura acquired 20,000 shares of the stock in a transaction dated Monday, November 27th. The stock was purchased at an average cost of $66.41 per share, with a total value of $1,328,200.00. Following the completion of the purchase, the chief executive officer now directly owns 744,391 shares in the company, valued at approximately $49,435,006.31. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Ehsan Zargar acquired 1,053 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was purchased at an average price of $66.50 per share, for a total transaction of $70,024.50. Following the purchase, the executive vice president now owns 145,415 shares in the company, valued at approximately $9,670,097.50. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David M. Maura bought 20,000 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was acquired at an average price of $66.41 per share, for a total transaction of $1,328,200.00. Following the purchase, the chief executive officer now directly owns 744,391 shares in the company, valued at $49,435,006.31. The disclosure for this purchase can be found here. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Spectrum Brands

A number of institutional investors and hedge funds have recently modified their holdings of the business. Larson Financial Group LLC grew its position in Spectrum Brands by 72.6% during the fourth quarter. Larson Financial Group LLC now owns 359 shares of the company’s stock valued at $29,000 after buying an additional 151 shares during the period. International Assets Investment Management LLC grew its holdings in Spectrum Brands by 1,713.6% during the fourth quarter. International Assets Investment Management LLC now owns 399 shares of the company’s stock valued at $32,000 after purchasing an additional 377 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Spectrum Brands by 53.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the company’s stock valued at $36,000 after purchasing an additional 160 shares during the period. Captrust Financial Advisors increased its position in Spectrum Brands by 31.7% in the first quarter. Captrust Financial Advisors now owns 503 shares of the company’s stock worth $45,000 after buying an additional 121 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Spectrum Brands by 34.6% in the second quarter. CWM LLC now owns 689 shares of the company’s stock valued at $54,000 after buying an additional 177 shares during the period.

Spectrum Brands Company Profile

(Get Free Report)

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.

Featured Articles

Analyst Recommendations for Spectrum Brands (NYSE:SPB)

Receive News & Ratings for Spectrum Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spectrum Brands and related companies with MarketBeat.com's FREE daily email newsletter.