Spectrum Brands (NYSE:SPB) Hits New 12-Month Low – Here’s Why

Spectrum Brands Holdings, Inc. (NYSE:SPB)’s stock price reached a new 52-week low on Wednesday . The stock traded as low as $57.93 and last traded at $58.45, with a volume of 628055 shares changing hands. The stock had previously closed at $60.92.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada lowered their target price on shares of Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Canaccord Genuity Group upgraded shares of Spectrum Brands from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $94.00 to $102.00 in a research note on Friday, February 7th. UBS Group cut their target price on shares of Spectrum Brands from $114.00 to $109.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, Wells Fargo & Company dropped their price objective on Spectrum Brands from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 2nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $101.57.

Spectrum Brands Trading Down 4.0 %

The company has a market cap of $1.54 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 1.70 and a beta of 1.03. The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average price is $74.14 and its 200-day moving average price is $84.04.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. During the same quarter in the prior year, the firm earned $0.78 earnings per share. On average, equities analysts anticipate that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend was Tuesday, February 18th. Spectrum Brands’s dividend payout ratio is 46.19%.

Institutional Investors Weigh In On Spectrum Brands

A number of hedge funds and other institutional investors have recently modified their holdings of SPB. GAMMA Investing LLC increased its position in Spectrum Brands by 4,757.5% during the first quarter. GAMMA Investing LLC now owns 15,884 shares of the company’s stock worth $1,137,000 after acquiring an additional 15,557 shares during the period. Versant Capital Management Inc grew its position in shares of Spectrum Brands by 101.7% during the 1st quarter. Versant Capital Management Inc now owns 970 shares of the company’s stock worth $69,000 after purchasing an additional 489 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Spectrum Brands by 13.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,259 shares of the company’s stock worth $275,000 after purchasing an additional 396 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Spectrum Brands in the fourth quarter valued at approximately $2,758,000. Finally, Pullen Investment Management LLC boosted its stake in shares of Spectrum Brands by 47.1% in the fourth quarter. Pullen Investment Management LLC now owns 12,028 shares of the company’s stock valued at $1,016,000 after buying an additional 3,849 shares during the period.

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.