Monness Crespi & Hardt Boosts Spectrum Brands (NYSE:SPB) Price Target to $98.00

Spectrum Brands (NYSE:SPBFree Report) had its price objective hoisted by Monness Crespi & Hardt from $87.00 to $98.00 in a research note released on Friday morning, MarketBeat Ratings reports. Monness Crespi & Hardt currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the company. Canaccord Genuity Group reissued a hold rating and set a $86.00 price target (up previously from $83.00) on shares of Spectrum Brands in a research report on Friday. StockNews.com raised Spectrum Brands from a sell rating to a hold rating in a research report on Saturday, December 30th. Royal Bank of Canada dropped their price target on Spectrum Brands from $96.00 to $89.00 and set an outperform rating for the company in a research report on Wednesday, November 22nd. Canaccord Genuity Group downgraded Spectrum Brands from a buy rating to a hold rating and raised their price target for the stock from $83.00 to $86.00 in a research report on Friday. Finally, Wells Fargo & Company downgraded Spectrum Brands from an overweight rating to an equal weight rating and dropped their price target for the stock from $90.00 to $73.00 in a research report on Monday, November 20th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $88.86.

Check Out Our Latest Stock Report on SPB

Spectrum Brands Stock Down 0.3 %

SPB opened at $85.86 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.83 and a quick ratio of 3.22. The business has a 50 day simple moving average of $78.63 and a 200-day simple moving average of $77.47. The stock has a market capitalization of $2.65 billion, a P/E ratio of 1.86, a P/E/G ratio of 0.76 and a beta of 1.19. Spectrum Brands has a 12 month low of $56.69 and a 12 month high of $87.99.

Spectrum Brands (NYSE:SPBGet Free Report) last released its quarterly earnings data 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 return on equity of 4.78% and a net margin of 63.89%. The firm had revenue of $692.20 million during the quarter, compared to the consensus estimate of $674.20 million. During the same period last year, the business posted ($0.32) EPS. Spectrum Brands’s quarterly revenue was down 3.0% on a year-over-year basis. On average, equities analysts anticipate that Spectrum Brands will post 3.81 earnings per share 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. Stockholders of record on Tuesday, February 20th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $1.68 annualized dividend and a dividend yield of 1.96%. Spectrum Brands’s dividend payout ratio is presently 3.65%.

Insider Transactions at Spectrum Brands

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

Institutional Investors Weigh In On Spectrum Brands

A number of institutional investors and hedge funds have recently modified their holdings of SPB. Acadian Asset Management LLC lifted its position in shares of Spectrum Brands by 351.9% during the 1st quarter. Acadian Asset Management LLC now owns 6,422 shares of the company’s stock valued at $568,000 after acquiring an additional 5,001 shares during the last quarter. MetLife Investment Management LLC raised its stake in Spectrum Brands by 1,012.7% during the 1st quarter. MetLife Investment Management LLC now owns 879 shares of the company’s stock valued at $78,000 after purchasing an additional 800 shares during the period. Bridgewater Associates LP raised its stake in Spectrum Brands by 306.4% during the 1st quarter. Bridgewater Associates LP now owns 90,590 shares of the company’s stock valued at $8,037,000 after purchasing an additional 68,300 shares during the period. First Trust Advisors LP raised its stake in Spectrum Brands by 89.6% during the 1st quarter. First Trust Advisors LP now owns 160,082 shares of the company’s stock valued at $14,202,000 after purchasing an additional 75,658 shares during the period. Finally, Gamco Investors INC. ET AL raised its stake in Spectrum Brands by 62.9% during the 1st quarter. Gamco Investors INC. ET AL now owns 23,300 shares of the company’s stock valued at $2,067,000 after purchasing an additional 9,000 shares during the period.

About Spectrum Brands

(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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