Spectrum Brands (NYSE:SPB) Cut to Hold at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of Spectrum Brands (NYSE:SPB – Free Report) from a buy rating to a hold rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts have also recently issued reports on SPB. Royal Bank Of Canada cut shares of Spectrum Brands from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $85.00 to $92.00 in a research note on Monday, August 10th. Oppenheimer lifted their target price on shares of Spectrum Brands from $85.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $96.00 price target on shares of Spectrum Brands in a research note on Monday, August 10th. Weiss Ratings lowered shares of Spectrum Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Finally, UBS Group began coverage on shares of Spectrum Brands in a research report on Thursday, October 15th. They set a “buy” rating and a $97.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.86.

Check Out Our Latest Analysis on Spectrum Brands

Spectrum Brands Price Performance

Shares of Spectrum Brands stock opened at $89.30 on Friday. The company has a current ratio of 2.41, a quick ratio of 1.61 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $2.05 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 3.27 and a beta of 0.81. The business’s 50-day moving average price is $82.94 and its 200-day moving average price is $81.06. Spectrum Brands has a 12 month low of $51.41 and a 12 month high of $99.06.

Spectrum Brands (NYSE:SPB – Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $1.33. The company had revenue of $753.30 million for the quarter, compared to analysts’ expectations of $732.19 million. Spectrum Brands had a return on equity of 10.06% and a net margin of 2.76%. Spectrum Brands’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $1.24 EPS. Sell-side analysts forecast that Spectrum Brands will post 6.26 EPS for the current fiscal year.

Institutional Trading of Spectrum Brands

Institutional investors have recently made changes to their positions in the stock. Global Retirement Partners LLC bought a new position in shares of Spectrum Brands in the second quarter worth approximately $27,000. Allworth Financial LP bought a new stake in Spectrum Brands during the 2nd quarter valued at $29,000. Fulcrum Asset Management LLP bought a new stake in Spectrum Brands during the 3rd quarter valued at $61,000. Integrated Wealth Concepts LLC purchased a new stake in Spectrum Brands during the 2nd quarter valued at $70,000. Finally, Nykredit A S purchased a new stake in Spectrum Brands during the 2nd quarter valued at $102,000.

About Spectrum Brands

(Get Free Report)

Spectrum Brands Holdings, Inc is a global consumer products company that develops, manufactures and markets products for homes, pets and gardens. Its businesses serve consumers through a portfolio of established brands and retail, e-commerce and other distribution channels.

The company’s Home and Personal Care products include small kitchen appliances, personal care devices and home appliances sold under brands such as Remington, Russell Hobbs, George Foreman and Black+Decker, under license.

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