Spectrum Brands (NYSE:SPB) Rating Increased to Outperform at Wedbush

Wedbush upgraded shares of Spectrum Brands (NYSE:SPB) from a neutral rating to an outperform rating in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has $10.00 target price on the stock, up from their previous target price of $6.00.

Several other equities analysts have also recently issued reports on the stock. Canaccord Genuity Group upgraded shares of Spectrum Brands from a “hold” rating to a “buy” rating and upped their price target for the company from $94.00 to $102.00 in a research report on Friday. UBS Group cut their target price on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Wells Fargo & Company decreased their price target on Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.11.

Spectrum Brands Price Performance

SPB stock opened at $78.19 on Friday. Spectrum Brands has a 1 year low of $75.94 and a 1 year high of $96.74. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.30 and a quick ratio of 1.62. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 19.21, a P/E/G ratio of 1.36 and a beta of 1.20. The company has a 50 day simple moving average of $86.57 and a 200 day simple moving average of $89.04.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.34% and a net margin of 4.01%. During the same quarter last year, the company posted $0.78 EPS. Research analysts anticipate that Spectrum Brands will post 5.17 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.47 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.88 dividend on an annualized basis and a yield of 2.40%. Spectrum Brands’s payout ratio is 46.19%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in Spectrum Brands during the third quarter valued at $222,000. CWM LLC increased its position in shares of Spectrum Brands by 151.7% in the third quarter. CWM LLC now owns 1,880 shares of the company’s stock worth $179,000 after purchasing an additional 1,133 shares during the last quarter. nVerses Capital LLC raised its stake in Spectrum Brands by 28.6% in the third quarter. nVerses Capital LLC now owns 1,800 shares of the company’s stock valued at $171,000 after purchasing an additional 400 shares in the last quarter. West Oak Capital LLC grew its stake in Spectrum Brands by 48.8% in the 3rd quarter. West Oak Capital LLC now owns 26,984 shares of the company’s stock worth $2,567,000 after buying an additional 8,855 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Spectrum Brands by 410.8% during the 3rd quarter. Blue Trust Inc. now owns 807 shares of the company’s stock valued at $77,000 after buying an additional 649 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.