Spectrum Brands Holdings, Inc. (NYSE:SPB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Posted by Defense World Staff on Jun 7th, 2023

Shares of Spectrum Brands Holdings, Inc. (NYSE:SPB – Get Rating) have earned a consensus rating of “Hold” from the eleven research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $82.86.

SPB has been the topic of several research reports. Wells Fargo & Company cut their price objective on shares of Spectrum Brands from $90.00 to $85.00 in a research report on Monday, May 15th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Spectrum Brands from $69.00 to $80.00 in a report on Monday, May 8th. UBS Group upped their price target on shares of Spectrum Brands from $84.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, March 31st. Canaccord Genuity Group began coverage on shares of Spectrum Brands in a research note on Thursday, March 30th. They issued a “buy” rating and a $82.00 price target on the stock. Finally, StockNews.com began coverage on shares of Spectrum Brands in a research report on Thursday, May 18th. They set a “sell” rating on the stock.

Spectrum Brands Trading Up 0.7 %

Shares of NYSE SPB opened at $74.70 on Wednesday. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of -113.18 and a beta of 1.40. Spectrum Brands has a twelve month low of $38.93 and a twelve month high of $88.20. The company’s fifty day moving average is $69.11 and its 200-day moving average is $63.85. The company has a quick ratio of 2.20, a current ratio of 2.70 and a debt-to-equity ratio of 2.67.

Spectrum Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 8th. Stockholders of record on Tuesday, May 23rd will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Monday, May 22nd. Spectrum Brands’s dividend payout ratio (DPR) is presently -254.55%.

Insider Transactions at Spectrum Brands

In other news, CEO David M. Maura purchased 5,000 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was bought at an average price of $72.13 per share, with a total value of $360,650.00. Following the acquisition, the chief executive officer now owns 673,816 shares in the company, valued at approximately $48,602,348.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Spectrum Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royce & Associates LP lifted its stake in Spectrum Brands by 40.3% in the 1st quarter. Royce & Associates LP now owns 58,179 shares of the company’s stock valued at $3,853,000 after purchasing an additional 16,700 shares during the last quarter. FourWorld Capital Management LLC bought a new position in Spectrum Brands in the 1st quarter valued at approximately $662,000. Ancora Advisors LLC lifted its stake in Spectrum Brands by 26.4% in the 1st quarter. Ancora Advisors LLC now owns 34,860 shares of the company’s stock valued at $2,308,000 after purchasing an additional 7,270 shares during the last quarter. State Street Corp raised its stake in shares of Spectrum Brands by 1.9% during the first quarter. State Street Corp now owns 642,670 shares of the company’s stock valued at $42,558,000 after acquiring an additional 11,787 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Spectrum Brands during the first quarter valued at $1,043,000. Institutional investors own 95.33% of the company’s stock.

Spectrum Brands Company Profile

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Spectrum Brands Holdings, Inc engages in the manufacture and supply of residential locksets, residential builders’ hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn, garden and home pest control products, and personal insect repellents.