Spectrum Brands (NYSE:SPB) Sets New 52-Week Low – What’s Next?

Spectrum Brands Holdings, Inc. (NYSE:SPB)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $69.85 and last traded at $71.82, with a volume of 455390 shares traded. The stock had previously closed at $70.55.

Analyst Ratings Changes

Several research firms have recently weighed in on SPB. Wells Fargo & Company reduced their price objective 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. Royal Bank of Canada lowered their price target on Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Canaccord Genuity Group upgraded Spectrum Brands from a “hold” rating to a “buy” rating and boosted their price target for the company from $94.00 to $102.00 in a report on Friday, February 7th. Finally, UBS Group reduced their price objective on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.43.

Spectrum Brands Stock Up 2.3 %

The firm has a 50 day simple moving average of $80.16 and a two-hundred day simple moving average of $87.03. The company has a quick ratio of 1.53, a current ratio of 2.40 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $1.90 billion, a P/E ratio of 17.64, a PEG ratio of 1.70 and a beta of 1.20.

Spectrum Brands (NYSE:SPB) last issued its earnings results on Thursday, February 6th. The company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. During the same period in the prior year, the firm posted $0.78 earnings per share. On average, equities research analysts expect that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.47 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.61%. Spectrum Brands’s dividend payout ratio (DPR) is currently 46.19%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. increased its position in shares of Spectrum Brands by 15.9% during the third quarter. Citigroup Inc. now owns 41,048 shares of the company’s stock valued at $3,905,000 after buying an additional 5,641 shares during the period. Empowered Funds LLC purchased a new stake in Spectrum Brands in the fourth quarter worth about $387,000. Everence Capital Management Inc. purchased a new stake in shares of Spectrum Brands during the fourth quarter valued at approximately $553,000. SG Americas Securities LLC lifted its position in Spectrum Brands by 478.4% during the fourth quarter. SG Americas Securities LLC now owns 13,500 shares of the company’s stock valued at $1,141,000 after purchasing an additional 11,166 shares during the period. Finally, Ieq Capital LLC bought a new position in Spectrum Brands during the fourth quarter valued at approximately $562,000.

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.