UBS Group Has Lowered Expectations for Spectrum Brands (NYSE:SPB) Stock Price

Spectrum Brands (NYSE:SPB) had its price target trimmed by UBS Group from $106.00 to $76.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on SPB. Canaccord Genuity Group raised shares of 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, February 7th. Royal Bank of Canada lowered their target price on shares of Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, Wells Fargo & Company cut their price target on shares of Spectrum Brands from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.43.

Spectrum Brands Price Performance

Shares of SPB opened at $59.71 on Thursday. The business has a 50-day simple moving average of $70.64 and a two-hundred day simple moving average of $82.10. Spectrum Brands has a 12-month low of $57.93 and a 12-month high of $96.74. The stock has a market cap of $1.57 billion, a PE ratio of 14.67, a PEG ratio of 1.70 and a beta of 1.03. The company has a quick ratio of 1.53, a current ratio of 2.40 and a debt-to-equity ratio of 0.27.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. During the same period last year, the firm posted $0.78 earnings per share. Analysts anticipate that Spectrum Brands will post 5.06 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Tuesday, February 18th. Spectrum Brands’s payout ratio is 46.19%.

Hedge Funds Weigh In On Spectrum Brands

Several institutional investors have recently made changes to their positions in the stock. Pzena Investment Management LLC increased its position in Spectrum Brands by 1.7% in the 4th quarter. Pzena Investment Management LLC now owns 1,333,345 shares of the company’s stock valued at $112,654,000 after buying an additional 22,484 shares in the last quarter. State Street Corp increased its holdings in shares of Spectrum Brands by 1.3% during 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. Callodine Capital Management LP raised its position in shares of Spectrum Brands by 29.8% during the fourth quarter. Callodine Capital Management LP now owns 527,500 shares of the company’s stock worth $44,568,000 after purchasing an additional 121,000 shares during the period. FIL Ltd lifted its holdings in shares of Spectrum Brands by 8.7% in the 4th quarter. FIL Ltd now owns 461,568 shares of the company’s stock worth $38,998,000 after purchasing an additional 36,798 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Spectrum Brands by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company’s stock valued at $38,089,000 after purchasing an additional 7,198 shares during the period.

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.