Spectrum Brands (NYSE:SPB) Rating Increased to Buy at Canaccord Genuity Group

Spectrum Brands (NYSE:SPB) was upgraded by equities researchers at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a $102.00 price target on the stock, up from their previous price target of $94.00. Canaccord Genuity Group’s price target would suggest a potential upside of 33.31% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. UBS Group cut their price target on shares of Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company cut their target price on Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $101.75.

Spectrum Brands Stock Down 7.7 %

Spectrum Brands stock opened at $76.51 on Friday. The company has a current ratio of 2.30, a quick ratio of 1.62 and a debt-to-equity ratio of 0.26. The firm’s fifty day moving average price is $86.88 and its two-hundred day moving average price is $89.13. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 1.51 and a beta of 1.20. Spectrum Brands has a 1-year low of $75.94 and a 1-year high of $96.74.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. During the same period in the prior year, the firm earned $0.78 earnings per share. On average, equities research analysts predict that Spectrum Brands will post 5.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in Spectrum Brands during the 4th quarter valued at $972,000. Proficio Capital Partners LLC bought a new stake in shares of Spectrum Brands during the 4th quarter valued at $2,463,000. Victory Capital Management Inc. lifted its holdings in Spectrum Brands by 9.9% during the 4th quarter. Victory Capital Management Inc. now owns 23,133 shares of the company’s stock worth $1,955,000 after purchasing an additional 2,078 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake 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 worth $38,089,000 after purchasing an additional 7,198 shares during the period. Finally, Steward Partners Investment Advisory LLC purchased a new position in Spectrum Brands during the 4th 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.