Spectrum Brands (NYSE:SPB) Upgraded by Canaccord Genuity Group to Buy Rating

Canaccord Genuity Group upgraded shares of Spectrum Brands (NYSE:SPB) from a hold rating to a buy rating in a report released on Friday, MarketBeat Ratings reports. The firm currently has $102.00 price target on the stock, up from their previous price target of $94.00.

A number of other equities analysts also recently commented on SPB. UBS Group lowered 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. Wells Fargo & Company lowered their price objective on Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.11.

Spectrum Brands Stock Up 2.3 %

Shares of SPB opened at $78.19 on Friday. The company has a quick ratio of 1.62, a current ratio of 2.30 and a debt-to-equity ratio of 0.26. The stock has a fifty day simple moving average of $86.57 and a two-hundred day simple moving average of $89.04. Spectrum Brands has a 52-week low of $75.94 and a 52-week high of $96.74. The company has a market capitalization of $2.14 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.36 and a beta of 1.20.

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 net margin of 4.01% and a return on equity of 6.34%. During the same period last year, the company posted $0.78 EPS. As a group, equities analysts forecast that Spectrum Brands will post 5.17 EPS for the current year.

Spectrum Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.47 per share. 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 is currently 46.19%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SPB. Allspring Global Investments Holdings LLC increased its holdings in shares of Spectrum Brands by 5.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,120,102 shares of the company’s stock valued at $201,707,000 after purchasing an additional 112,530 shares during the period. Pzena Investment Management LLC lifted its holdings in shares of Spectrum Brands by 1.7% in the 4th quarter. Pzena Investment Management LLC now owns 1,333,345 shares of the company’s stock valued at $112,654,000 after buying an additional 22,484 shares during the period. State Street Corp raised its position in Spectrum Brands by 1.3% in the third quarter. State Street Corp now owns 590,222 shares of the company’s stock worth $56,154,000 after acquiring an additional 7,783 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Spectrum Brands by 7.6% during the 3rd quarter. Wellington Management Group LLP now owns 513,025 shares of the company’s stock worth $48,809,000 after purchasing an additional 36,063 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Spectrum Brands by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company’s stock valued at $38,089,000 after purchasing an additional 7,198 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.