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

Spectrum Brands (NYSE:SPB) had its target price lowered by Royal Bank of Canada from $114.00 to $110.00 in a research report released on Friday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other research firms also recently commented on SPB. UBS Group decreased their price objective 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. Canaccord Genuity Group raised shares of Spectrum Brands from a “hold” rating to a “buy” rating and boosted their price objective for the company from $94.00 to $102.00 in a research report on Friday. Wedbush raised shares of Spectrum Brands from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $6.00 to $10.00 in a report on Friday. Finally, Wells Fargo & Company lowered their target price on Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $91.11.

Spectrum Brands Price Performance

SPB opened at $78.19 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.62 and a current ratio of 2.30. Spectrum Brands has a 1-year low of $75.94 and a 1-year high of $96.74. The company has a 50-day moving average of $86.57 and a 200-day moving average of $89.04. The company has a market capitalization of $2.14 billion, a P/E ratio of 19.21, a PEG ratio of 1.36 and a beta of 1.20.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.34% and a net margin of 4.01%. During the same quarter in the previous year, the company earned $0.78 EPS. Equities analysts expect that Spectrum Brands will post 5.17 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.47 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.88 dividend on an annualized basis and a yield of 2.40%. Spectrum Brands’s dividend payout ratio (DPR) is presently 46.19%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its position in Spectrum Brands by 5.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,120,102 shares of the company’s stock valued at $201,707,000 after buying an additional 112,530 shares in the last quarter. Pzena Investment Management LLC lifted its stake in shares of Spectrum Brands by 1.7% in the 4th quarter. Pzena Investment Management LLC now owns 1,333,345 shares of the company’s stock worth $112,654,000 after acquiring an additional 22,484 shares during the period. State Street Corp boosted its holdings in shares of Spectrum Brands by 1.3% in the third quarter. State Street Corp now owns 590,222 shares of the company’s stock valued at $56,154,000 after acquiring an additional 7,783 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Spectrum Brands by 7.6% during the third quarter. Wellington Management Group LLP now owns 513,025 shares of the company’s stock valued at $48,809,000 after acquiring an additional 36,063 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Spectrum Brands by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company’s stock worth $38,089,000 after purchasing an additional 7,198 shares in 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.