Spectrum Brands (NYSE:SPB) Sets New 1-Year Low – Time to Sell?

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

Wall Street Analyst Weigh In

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

Spectrum Brands Price Performance

The firm’s 50 day moving average is $72.86 and its 200 day moving average is $83.47. The firm has a market cap of $1.61 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 1.70 and a beta of 1.03. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.53.

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

Spectrum Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.08%. The ex-dividend date was Tuesday, February 18th. Spectrum Brands’s dividend payout ratio is presently 46.19%.

Institutional Trading of Spectrum Brands

A number of institutional investors and hedge funds have recently bought and sold shares of SPB. Steward Partners Investment Advisory LLC purchased a new stake in shares of Spectrum Brands during the fourth quarter valued at approximately $50,000. Versant Capital Management Inc lifted its stake in shares of Spectrum Brands by 101.7% in 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 during the period. Blue Trust Inc. increased its holdings in Spectrum Brands by 46.5% during the fourth quarter. Blue Trust Inc. now owns 1,182 shares of the company’s stock valued at $100,000 after buying an additional 375 shares during the last quarter. KBC Group NV raised its position in Spectrum Brands by 46.3% in the fourth quarter. KBC Group NV now owns 1,233 shares of the company’s stock worth $104,000 after acquiring an additional 390 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in shares of Spectrum Brands by 89.6% during the 4th quarter. Lazard Asset Management LLC now owns 1,464 shares of the company’s stock worth $123,000 after acquiring an additional 692 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.