Royal Bank of Canada Cuts Spectrum Brands (NYSE:SPB) Price Target to $110.00

Spectrum Brands (NYSE:SPB) had its price objective decreased by Royal Bank of Canada from $114.00 to $110.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 40.69% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Wedbush upgraded shares of Spectrum Brands from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $6.00 to $10.00 in a research note on Friday. Canaccord Genuity Group raised 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. Wells Fargo & Company reduced their target price on shares of Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, UBS Group lowered their price target on shares of Spectrum Brands from $114.00 to $109.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $91.11.

Spectrum Brands Price Performance

Shares of Spectrum Brands stock traded up $1.73 during trading on Friday, hitting $78.19. 535,585 shares of the company’s stock traded hands, compared to its average volume of 439,099. Spectrum Brands has a twelve month low of $75.94 and a twelve month high of $96.74. The company has a market cap of $2.14 billion, a PE ratio of 19.09, a PEG ratio of 1.51 and a beta of 1.20. The firm’s fifty day moving average price is $86.57 and its 200 day moving average price is $89.04. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.30 and a quick ratio of 1.62.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. During the same period in the previous year, the business earned $0.78 EPS. Analysts forecast that Spectrum Brands will post 5.17 earnings per share for the current year.

Institutional Trading of Spectrum Brands

A number of large investors have recently made changes to their positions in the company. Waldron Private Wealth LLC bought a new stake in Spectrum Brands during the 3rd quarter worth approximately $27,000. Brooklyn Investment Group acquired a new stake in shares of Spectrum Brands in the 3rd quarter valued at about $31,000. International Assets Investment Management LLC lifted its holdings in shares of Spectrum Brands by 9,420.0% in the third quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock valued at $45,000 after purchasing an additional 471 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Spectrum Brands during the fourth quarter worth about $50,000. Finally, Farther Finance Advisors LLC boosted its position in Spectrum Brands by 92.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 544 shares of the company’s stock worth $52,000 after acquiring an additional 261 shares during the last quarter.

About Spectrum Brands

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.