Spectrum Brands (NYSE:SPB) Price Target Lowered to $88.00 at Wells Fargo & Company

Spectrum Brands (NYSE:SPB) had its price objective trimmed by Wells Fargo & Company from $92.00 to $88.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Separately, Canaccord Genuity Group upped their price target on Spectrum Brands from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $102.13.

Spectrum Brands Stock Up 0.1 %

Shares of NYSE:SPB opened at $84.16 on Tuesday. Spectrum Brands has a 52-week low of $75.50 and a 52-week high of $96.74. The firm has a market capitalization of $2.36 billion, a P/E ratio of 20.63, a P/E/G ratio of 1.58 and a beta of 1.20. The stock has a 50 day moving average price of $89.76 and a 200-day moving average price of $89.19. 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 (NYSE:SPB) last announced its earnings results on Friday, November 15th. The company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.16). The firm had revenue of $773.70 million during the quarter, compared to the consensus estimate of $747.80 million. Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.36 EPS. As a group, equities research analysts anticipate that Spectrum Brands will post 5.25 EPS for the current fiscal year.

Spectrum Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th were issued a $0.47 dividend. This is a boost from Spectrum Brands’s previous quarterly dividend of $0.42. This represents a $1.88 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date was Tuesday, November 26th. Spectrum Brands’s dividend payout ratio (DPR) is currently 46.08%.

Hedge Funds Weigh In On Spectrum Brands

Institutional investors have recently bought and sold shares of the stock. Waldron Private Wealth LLC bought a new position in Spectrum Brands in the 3rd quarter worth $27,000. Brooklyn Investment Group bought a new stake in Spectrum Brands during the third quarter valued at about $31,000. International Assets Investment Management LLC raised its holdings in Spectrum Brands by 9,420.0% during the third quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock valued at $45,000 after acquiring an additional 471 shares during the period. Quarry LP raised its holdings in Spectrum Brands by 375.0% during the second quarter. Quarry LP now owns 570 shares of the company’s stock valued at $49,000 after acquiring an additional 450 shares during the period. Finally, Headlands Technologies LLC bought a new stake in Spectrum Brands during the second quarter valued at about $50,000.

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.