Royal Bank of Canada lowered shares of Spectrum Brands (NYSE:SPB) from an outperform rating to a sector perform rating in a report released on Friday morning, BenzingaRatingsTable reports.
SPB has been the topic of a number of other research reports. Zacks Investment Research lowered GenMark Diagnostics from a hold rating to a sell rating in a report on Wednesday, April 24th. Deutsche Bank restated a hold rating on shares of AIB Group in a report on Monday, April 8th. Wells Fargo & Co restated a hold rating and issued a $11.00 target price on shares of Coty in a report on Wednesday, May 8th. Finally, Monness Crespi & Hardt restated a buy rating and issued a $77.00 target price (up previously from $64.00) on shares of Spectrum Brands in a report on Thursday, May 9th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $57.39.
Shares of Spectrum Brands stock opened at $50.87 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.60 and a debt-to-equity ratio of 1.21. Spectrum Brands has a 52 week low of $40.54 and a 52 week high of $92.72. The firm has a 50 day moving average price of $55.16. The firm has a market capitalization of $2.51 billion, a PE ratio of 14.37, a PEG ratio of 8.51 and a beta of 1.84.
Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.12). Spectrum Brands had a net margin of 24.97% and a return on equity of 6.03%. The firm had revenue of $906.70 million during the quarter, compared to analyst estimates of $874.57 million. During the same period last year, the business posted $0.49 EPS. The company’s revenue was up 2.7% on a year-over-year basis. As a group, analysts expect that Spectrum Brands will post 2.82 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. New York State Common Retirement Fund raised its position in Spectrum Brands by 7.9% during the fourth quarter. New York State Common Retirement Fund now owns 73,536 shares of the company’s stock valued at $3,107,000 after acquiring an additional 5,400 shares in the last quarter. BlackRock Inc. raised its position in Spectrum Brands by 3.1% during the fourth quarter. BlackRock Inc. now owns 1,829,064 shares of the company’s stock valued at $77,278,000 after acquiring an additional 55,557 shares in the last quarter. Bank of New York Mellon Corp raised its position in Spectrum Brands by 247.4% during the fourth quarter. Bank of New York Mellon Corp now owns 448,768 shares of the company’s stock valued at $18,961,000 after acquiring an additional 319,592 shares in the last quarter. Raymond James & Associates raised its position in Spectrum Brands by 23.4% during the fourth quarter. Raymond James & Associates now owns 67,936 shares of the company’s stock valued at $2,870,000 after acquiring an additional 12,870 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its position in Spectrum Brands by 76.7% during the fourth quarter. Great West Life Assurance Co. Can now owns 6,341 shares of the company’s stock valued at $256,000 after acquiring an additional 2,753 shares in the last quarter.
About Spectrum Brands
Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware, Stanley, and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell brands; and plumbing products under the Pfister brand.
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