Canaccord Genuity Group Forecasts Strong Price Appreciation for Spectrum Brands (NYSE:SPB) Stock

Spectrum Brands (NYSE:SPB) had its target price hoisted by Canaccord Genuity Group from $91.00 to $94.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a hold rating on the stock.

Several other brokerages have also issued reports on SPB. Deutsche Bank Aktiengesellschaft increased their target price on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Wells Fargo & Company lifted their price target on shares of Spectrum Brands from $87.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Finally, UBS Group upped their price objective on shares of Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Spectrum Brands presently has an average rating of “Hold” and an average price target of $102.38.

Spectrum Brands Stock Up 1.5 %

Spectrum Brands stock opened at $90.26 on Monday. The company’s 50-day moving average is $91.50 and its 200-day moving average is $89.62. Spectrum Brands has a fifty-two week low of $65.27 and a fifty-two week high of $96.74. The firm has a market capitalization of $2.53 billion, a PE ratio of 22.12, a P/E/G ratio of 1.57 and a beta of 1.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.30 and a quick ratio of 1.61.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Friday, November 15th. The company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.16). The business had revenue of $773.70 million for the quarter, compared to analyst estimates of $747.80 million. Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. Spectrum Brands’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $1.36 EPS. Sell-side analysts anticipate that Spectrum Brands will post 5.25 earnings per share for the current year.

Spectrum Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, November 26th will be given a $0.47 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $1.88 annualized dividend and a yield of 2.08%. This is a boost from Spectrum Brands’s previous quarterly dividend of $0.42. Spectrum Brands’s payout ratio is currently 41.18%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPB. Waldron Private Wealth LLC purchased a new position in shares of Spectrum Brands in the third quarter valued at $27,000. Brooklyn Investment Group purchased a new position in shares of Spectrum Brands in the 3rd quarter valued at approximately $31,000. Versant Capital Management Inc grew its holdings in Spectrum Brands by 1,923.8% in the second quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock worth $37,000 after purchasing an additional 404 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Spectrum Brands in the 1st quarter worth approximately $42,000. Finally, International Assets Investment Management LLC lifted its stake 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 worth $45,000 after buying an additional 471 shares in the last quarter.

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.