Canaccord Genuity Group Forecasts Strong Price Appreciation for Spectrum Brands (NYSE:SPB) Stock

Spectrum Brands (NYSE:SPB) had its price target lifted by investment analysts at Canaccord Genuity Group from $91.00 to $94.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 6.55% from the stock’s previous close.

SPB has been the subject of several other reports. Deutsche Bank Aktiengesellschaft lifted their target price on Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Wells Fargo & Company upped their target price on shares of Spectrum Brands from $87.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Finally, UBS Group upped their target price on shares of Spectrum Brands from $111.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $102.38.

Spectrum Brands Stock Down 6.0 %

Shares of NYSE:SPB opened at $88.22 on Monday. The business has a 50-day moving average price of $91.49 and a 200 day moving average price of $89.48. The company has a current ratio of 2.28, a quick ratio of 1.61 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 0.25 and a beta of 1.23. Spectrum Brands has a 12-month low of $65.27 and a 12-month high of $96.74.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Friday, November 15th. The company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.16). The business had revenue of $773.70 million for the quarter, compared to analyst estimates of $747.80 million. Spectrum Brands had a return on equity of 6.11% and a net margin of 4.21%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.36 earnings per share. Sell-side analysts expect that Spectrum Brands will post 6.12 EPS for the current year.

Hedge Funds Weigh In On Spectrum Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPB. Russell Investments Group Ltd. boosted its holdings in Spectrum Brands by 5.7% in the first quarter. Russell Investments Group Ltd. now owns 54,154 shares of the company’s stock valued at $4,820,000 after purchasing an additional 2,927 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Spectrum Brands in the first quarter valued at approximately $42,000. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Spectrum Brands by 19.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 44,827 shares of the company’s stock valued at $3,995,000 after acquiring an additional 7,227 shares during the period. Natixis boosted its holdings in shares of Spectrum Brands by 402.5% in the first quarter. Natixis now owns 28,589 shares of the company’s stock valued at $2,545,000 after acquiring an additional 22,900 shares during the period. Finally, Gamco Investors INC. ET AL boosted its holdings in shares of Spectrum Brands by 50.5% in the first quarter. Gamco Investors INC. ET AL now owns 231,933 shares of the company’s stock valued at $20,644,000 after acquiring an additional 77,835 shares during the period.

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.