Spectrum Brands (NYSE:SPB) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Spectrum Brands Holdings, Inc. (NYSE:SPB)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $87.99 and traded as high as $92.18. Spectrum Brands shares last traded at $91.68, with a volume of 221,362 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Wells Fargo & Company lifted their target price on shares of Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. UBS Group increased their price target on Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Canaccord Genuity Group lowered their price objective on Spectrum Brands from $92.00 to $90.00 and set a “hold” rating for the company in a research report on Monday, July 1st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $101.88.

Spectrum Brands Price Performance

The company has a market capitalization of $2.59 billion, a PE ratio of 26.06, a PEG ratio of 0.25 and a beta of 1.22. The company has a current ratio of 2.28, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average price is $91.49 and its 200-day moving average price is $88.02.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.25). The firm had revenue of $779.40 million for the quarter, compared to analyst estimates of $750.97 million. Spectrum Brands had a return on equity of 6.84% and a net margin of 3.86%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 earnings per share. On average, sell-side analysts forecast that Spectrum Brands Holdings, Inc. will post 4.78 earnings per share for the current fiscal year.

Spectrum Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Tuesday, August 27th were given a dividend of $0.42 per share. The ex-dividend date was Tuesday, August 27th. This represents a $1.68 dividend on an annualized basis and a yield of 1.82%. Spectrum Brands’s dividend payout ratio (DPR) is 47.46%.

Institutional Investors Weigh In On Spectrum Brands

Large investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale lifted its holdings in shares of Spectrum Brands by 24.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,225 shares of the company’s stock valued at $104,000 after acquiring an additional 240 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Spectrum Brands in the first quarter worth about $27,000. Central Pacific Bank Trust Division purchased a new stake in shares of Spectrum Brands in the first quarter worth about $30,000. nVerses Capital LLC grew its stake in shares of Spectrum Brands by 28.6% in the third quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $171,000 after buying an additional 400 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Spectrum Brands by 1,923.8% during the 2nd quarter. Versant Capital Management Inc now owns 425 shares of the company’s stock valued at $37,000 after buying an additional 404 shares during the period.

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.