Royal Bank of Canada cut shares of Spectrum Brands (NYSE:SPB) from an outperform rating to a sector perform rating in a research report report published on Friday morning, BenzingaRatingsTable reports.
SPB has been the topic of a number of other research reports. Wells Fargo & Co reiterated a hold rating and set a $11.00 price objective on shares of Coty in a research note on Wednesday, May 8th. Zacks Investment Research cut GenMark Diagnostics from a hold rating to a sell rating in a research note on Wednesday, April 24th. Monness Crespi & Hardt reiterated a buy rating and set a $77.00 price objective (up previously from $64.00) on shares of Spectrum Brands in a research note on Thursday, May 9th. Finally, Deutsche Bank reiterated a hold rating on shares of AIB Group in a research note on Monday, April 8th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $57.39.
NYSE SPB opened at $50.87 on Friday. The company has a market cap of $2.51 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 8.51 and a beta of 1.84. The company has a 50 day moving average price of $55.16. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.60 and a quick ratio of 0.82. Spectrum Brands has a 52 week low of $40.54 and a 52 week high of $92.72.
Spectrum Brands (NYSE:SPB) last released its earnings results on Wednesday, May 8th. The company reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.12). The firm had revenue of $906.70 million during the quarter, compared to the consensus estimate of $874.57 million. Spectrum Brands had a net margin of 24.97% and a return on equity of 6.03%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 EPS. Sell-side analysts forecast that Spectrum Brands will post 2.82 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of SPB. New Jersey Better Educational Savings Trust bought a new position in Spectrum Brands in the second quarter valued at about $333,000. Supplemental Annuity Collective Trust of NJ bought a new position in Spectrum Brands in the second quarter valued at about $538,000. FMR LLC raised its position in Spectrum Brands by 14.3% in the first quarter. FMR LLC now owns 7,895,443 shares of the company’s stock valued at $432,511,000 after purchasing an additional 986,101 shares during the last quarter. Nordea Investment Management AB raised its position in Spectrum Brands by 33.0% in the first quarter. Nordea Investment Management AB now owns 97,600 shares of the company’s stock valued at $5,346,000 after purchasing an additional 24,200 shares during the last quarter. Finally, Advisory Services Network LLC raised its position in Spectrum Brands by 11.1% in the first quarter. Advisory Services Network LLC now owns 10,542 shares of the company’s stock valued at $577,000 after purchasing an additional 1,052 shares during the last quarter.
About Spectrum Brands
Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware, Stanley, and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell brands; and plumbing products under the Pfister brand.
See Also: Systematic Risk
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