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

Spectrum Brands (NYSE:SPB) was upgraded by stock analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research note issued on Friday,Benzinga reports. The firm presently has a $102.00 target price on the stock, up from their previous target price of $94.00. Canaccord Genuity Group’s target price indicates a potential upside of 33.31% from the stock’s previous close.

SPB has been the topic of several other reports. Wells Fargo & Company decreased their price target on shares of Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. UBS Group dropped their price target on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $101.75.

Spectrum Brands Stock Down 7.7 %

Shares of NYSE SPB opened at $76.51 on Friday. The stock has a market capitalization of $2.09 billion, a P/E ratio of 18.75, a PEG ratio of 1.51 and a beta of 1.20. The stock’s fifty day moving average is $86.88 and its 200 day moving average is $89.13. Spectrum Brands has a 52 week low of $75.94 and a 52 week high of $96.74. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.62 and a current ratio of 2.30.

Spectrum Brands (NYSE:SPB) last announced its quarterly earnings data 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 net margin of 4.21% and a return on equity of 6.16%. During the same quarter in the prior year, the company earned $0.78 earnings per share. Sell-side analysts forecast that Spectrum Brands will post 5.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Citigroup Inc. raised 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 worth $3,905,000 after acquiring an additional 5,641 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in Spectrum Brands during the 4th quarter valued at approximately $553,000. SG Americas Securities LLC raised its holdings in Spectrum Brands by 478.4% during the 4th quarter. SG Americas Securities LLC now owns 13,500 shares of the company’s stock worth $1,141,000 after purchasing an additional 11,166 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Spectrum Brands by 9,420.0% in the 3rd quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock worth $45,000 after purchasing an additional 471 shares during the period. Finally, Manning & Napier Advisors LLC boosted its stake in shares of Spectrum Brands by 30.4% in the 4th quarter. Manning & Napier Advisors LLC now owns 150,000 shares of the company’s stock valued at $12,674,000 after purchasing an additional 35,000 shares during the last quarter.

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.