Spectrum Brands (NYSE:SPB) Sets New 52-Week Low Following Analyst Downgrade

Spectrum Brands Holdings, Inc. (NYSE:SPB) hit a new 52-week low on Thursday after Wells Fargo & Company lowered their price target on the stock from $80.00 to $75.00. Wells Fargo & Company currently has an equal weight rating on the stock. Spectrum Brands traded as low as $67.21 and last traded at $67.46, with a volume of 56921 shares traded. The stock had previously closed at $71.41.

SPB has been the subject of several other reports. UBS Group lowered their price target on Spectrum Brands from $114.00 to $109.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Canaccord Genuity Group raised Spectrum Brands from a “hold” rating to a “buy” rating and increased their target price for the stock from $94.00 to $102.00 in a research note on Friday, February 7th. Finally, Royal Bank of Canada cut their price target on shares of Spectrum Brands from $114.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Spectrum Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.57.

Institutional Trading of Spectrum Brands

A number of institutional investors have recently made changes to their positions in SPB. Man Group plc boosted its stake in shares of Spectrum Brands by 160.5% during the 4th quarter. Man Group plc now owns 320,178 shares of the company’s stock worth $27,052,000 after buying an additional 197,263 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of Spectrum Brands in the 4th quarter valued at approximately $16,606,000. Two Sigma Advisers LP increased its holdings in Spectrum Brands by 403.9% during the fourth quarter. Two Sigma Advisers LP now owns 233,800 shares of the company’s stock worth $19,754,000 after buying an additional 187,400 shares during the last quarter. Trexquant Investment LP raised its position in Spectrum Brands by 2,541.2% during the fourth quarter. Trexquant Investment LP now owns 148,698 shares of the company’s stock worth $12,563,000 after acquiring an additional 143,068 shares in the last quarter. Finally, Callodine Capital Management LP lifted its stake in Spectrum Brands by 29.8% in the fourth quarter. Callodine Capital Management LP now owns 527,500 shares of the company’s stock valued at $44,568,000 after acquiring an additional 121,000 shares during the last quarter.

Spectrum Brands Trading Down 5.8 %

The company has a market cap of $1.77 billion, a P/E ratio of 16.53, a P/E/G ratio of 1.70 and a beta of 1.20. The business’s 50-day moving average price is $76.55 and its 200 day moving average price is $85.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40.

Spectrum Brands (NYSE:SPB) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. During the same period in the previous year, the business earned $0.78 earnings per share. As a group, analysts expect that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Tuesday, February 18th. Spectrum Brands’s payout ratio is 46.19%.

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.