Spectrum Brands (NYSE:SPB) Price Target Lowered to $90.00 at Canaccord Genuity Group

Spectrum Brands (NYSE:SPB) had its price objective reduced by stock analysts at Canaccord Genuity Group from $92.00 to $90.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 4.43% from the stock’s current price.

A number of other research firms have also issued reports on SPB. Monness Crespi & Hardt lifted their price objective on shares of Spectrum Brands from $98.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $114.00 price target on shares of Spectrum Brands in a research note on Friday, June 7th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Spectrum Brands from $85.00 to $91.00 and gave the company a “hold” rating in a research report on Friday, May 10th. Oppenheimer boosted their price target on Spectrum Brands from $88.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Finally, Wells Fargo & Company increased their price target on Spectrum Brands from $85.00 to $95.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Spectrum Brands currently has a consensus rating of “Hold” and a consensus price target of $99.57.

Spectrum Brands Stock Up 0.3 %

Shares of NYSE:SPB traded up $0.25 during midday trading on Monday, hitting $86.18. 38,982 shares of the company’s stock traded hands, compared to its average volume of 416,065. The firm’s fifty day moving average price is $88.49 and its two-hundred day moving average price is $84.01. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.05 and a current ratio of 3.73. Spectrum Brands has a twelve month low of $65.27 and a twelve month high of $96.74. The company has a market cap of $2.51 billion, a PE ratio of 1.74, a P/E/G ratio of 0.37 and a beta of 1.19.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, May 9th. The company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $1.13. Spectrum Brands had a return on equity of 6.43% and a net margin of 68.11%. The company had revenue of $718.50 million for the quarter, compared to analysts’ expectations of $708.54 million. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities research analysts anticipate that Spectrum Brands will post 4.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Spectrum Brands

Hedge funds have recently added to or reduced their stakes in the business. EMC Capital Management acquired a new position in shares of Spectrum Brands in the 1st quarter valued at about $192,000. Tidal Investments LLC lifted its holdings in Spectrum Brands by 66.0% in the first quarter. Tidal Investments LLC now owns 13,778 shares of the company’s stock worth $1,226,000 after acquiring an additional 5,480 shares during the last quarter. Redwood Investment Management LLC boosted its stake in Spectrum Brands by 3.1% in the first quarter. Redwood Investment Management LLC now owns 78,447 shares of the company’s stock valued at $6,983,000 after acquiring an additional 2,355 shares during the period. Bayesian Capital Management LP bought a new position in shares of Spectrum Brands during the first quarter valued at approximately $335,000. Finally, Caxton Associates LP acquired a new stake in shares of Spectrum Brands during the 1st quarter worth approximately $792,000.

Spectrum Brands Company Profile

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.