Spectrum Brands (NYSE:SPB) Upgraded at Wedbush

Wedbush upgraded shares of Spectrum Brands (NYSE:SPB) from a neutral rating to an outperform rating in a research report sent to investors on Friday,Benzinga reports. Wedbush currently has $10.00 price target on the stock, up from their previous price target of $6.00.

A number of other analysts have also weighed in on the stock. UBS Group dropped their target price on shares of Spectrum Brands from $114.00 to $109.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Canaccord Genuity Group upgraded shares of Spectrum Brands from a “hold” rating to a “buy” rating and increased their price target for the stock from $94.00 to $102.00 in a research note on Friday. Finally, Wells Fargo & Company dropped their target price on Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $91.11.

Spectrum Brands Stock Up 2.3 %

SPB opened at $78.19 on Friday. The business’s 50-day moving average price is $86.57 and its 200-day moving average price is $89.04. The company has a current ratio of 2.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.26. Spectrum Brands has a 12 month low of $75.94 and a 12 month high of $96.74. The company has a market cap of $2.14 billion, a P/E ratio of 19.21, a P/E/G ratio of 1.36 and a beta of 1.20.

Spectrum Brands (NYSE:SPB) last issued its earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.34%. During the same period in the previous year, the business earned $0.78 EPS. On average, equities analysts expect that Spectrum Brands will post 5.17 EPS for the current year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Tuesday, February 18th. Spectrum Brands’s dividend payout ratio (DPR) is presently 46.19%.

Hedge Funds Weigh In On Spectrum Brands

Several hedge funds and other institutional investors have recently modified their holdings of SPB. Citigroup Inc. boosted its position in Spectrum Brands by 15.9% in the third quarter. Citigroup Inc. now owns 41,048 shares of the company’s stock worth $3,905,000 after purchasing an additional 5,641 shares during the last quarter. Everence Capital Management Inc. bought a new position in Spectrum Brands in the fourth quarter worth approximately $553,000. SG Americas Securities LLC boosted its stake in shares of Spectrum Brands by 478.4% during the 4th quarter. SG Americas Securities LLC now owns 13,500 shares of the company’s stock worth $1,141,000 after acquiring an additional 11,166 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Spectrum Brands by 9,420.0% during the 3rd 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. Finally, Manning & Napier Advisors LLC increased its stake in shares of Spectrum Brands by 30.4% in the 4th quarter. Manning & Napier Advisors LLC now owns 150,000 shares of the company’s stock worth $12,674,000 after purchasing an additional 35,000 shares in 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.