Wells Fargo & Company Raises Spectrum Brands (NYSE:SPB) Price Target to $85.00

Spectrum Brands (NYSE:SPBFree Report) had its target price raised by Wells Fargo & Company from $75.00 to $85.00 in a report released on Friday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts have also recently commented on SPB. Canaccord Genuity Group restated a hold rating and set a $86.00 target price (up previously from $83.00) on shares of Spectrum Brands in a report on Friday. Canaccord Genuity Group cut shares of Spectrum Brands from a buy rating to a hold rating and increased their target price for the stock from $83.00 to $86.00 in a report on Friday. Royal Bank of Canada dropped their price target on shares of Spectrum Brands from $96.00 to $89.00 and set an outperform rating on the stock in a research report on Wednesday, November 22nd. Monness Crespi & Hardt upped their price target on shares of Spectrum Brands from $87.00 to $98.00 and gave the stock a buy rating in a research report on Friday. Finally, StockNews.com upgraded shares of Spectrum Brands from a sell rating to a hold rating in a research note on Saturday, December 30th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $88.86.

Read Our Latest Report on SPB

Spectrum Brands Stock Up 2.2 %

Spectrum Brands stock opened at $87.78 on Friday. The stock has a market capitalization of $2.66 billion, a PE ratio of 1.90, a price-to-earnings-growth ratio of 0.75 and a beta of 1.19. Spectrum Brands has a twelve month low of $56.69 and a twelve month high of $88.11. 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 50 day moving average of $78.95 and a 200-day moving average of $77.54.

Spectrum Brands (NYSE:SPBGet Free Report) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.47. Spectrum Brands had a net margin of 63.89% and a return on equity of 4.66%. The company had revenue of $692.20 million during the quarter, compared to analysts’ expectations of $674.20 million. During the same quarter in the prior year, the company earned ($0.32) earnings per share. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, equities research analysts anticipate that Spectrum Brands will post 3.81 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Larson Financial Group LLC raised its holdings in Spectrum Brands by 72.6% in the 4th quarter. Larson Financial Group LLC now owns 359 shares of the company’s stock worth $29,000 after acquiring an additional 151 shares during the period. International Assets Investment Management LLC boosted its position in Spectrum Brands by 1,713.6% in the fourth quarter. International Assets Investment Management LLC now owns 399 shares of the company’s stock valued at $32,000 after buying an additional 377 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Spectrum Brands by 53.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the company’s stock valued at $36,000 after buying an additional 160 shares in the last quarter. Captrust Financial Advisors boosted its position in Spectrum Brands by 31.7% in the first quarter. Captrust Financial Advisors now owns 503 shares of the company’s stock valued at $45,000 after buying an additional 121 shares in 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 worth $54,000 after acquiring an additional 177 shares during the last quarter.

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.

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Analyst Recommendations for Spectrum Brands (NYSE:SPB)

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