UBS Group Cuts Spectrum Brands (NYSE:SPB) Price Target to $109.00

Spectrum Brands (NYSE:SPB) had its target price reduced by equities researchers at UBS Group from $114.00 to $109.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective would indicate a potential upside of 27.59% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Spectrum Brands from $92.00 to $88.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Canaccord Genuity Group upped their target price on Spectrum Brands from $91.00 to $94.00 and gave the company a “hold” rating in a report on Monday, November 18th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.75.

Spectrum Brands Stock Performance

Shares of SPB traded up $0.33 during midday trading on Thursday, reaching $85.43. 158,633 shares of the stock were exchanged, compared to its average volume of 333,795. The company has a quick ratio of 1.62, a current ratio of 2.30 and a debt-to-equity ratio of 0.26. The stock’s 50 day simple moving average is $88.89 and its 200 day simple moving average is $89.05. Spectrum Brands has a twelve month low of $75.50 and a twelve month high of $96.74. The company has a market cap of $2.40 billion, a P/E ratio of 20.94, a PEG ratio of 1.46 and a beta of 1.20.

Spectrum Brands (NYSE:SPB) last announced 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). Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. The firm had revenue of $773.70 million for the quarter, compared to analyst estimates of $747.80 million. During the same quarter in the previous year, the company earned $1.36 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts expect that Spectrum Brands will post 5.25 earnings per share for the current year.

Institutional Investors Weigh In On Spectrum Brands

Institutional investors and hedge funds have recently made changes to their positions in the business. Waldron Private Wealth LLC purchased a new position in Spectrum Brands during the third quarter worth about $27,000. Brooklyn Investment Group bought a new stake in Spectrum Brands during the 3rd quarter valued at $31,000. International Assets Investment Management LLC raised its stake in Spectrum Brands by 9,420.0% in the third quarter. International Assets Investment Management LLC now owns 476 shares of the company’s stock valued at $45,000 after purchasing an additional 471 shares in the last quarter. Quarry LP lifted its position in Spectrum Brands by 375.0% during the second quarter. Quarry LP now owns 570 shares of the company’s stock valued at $49,000 after purchasing an additional 450 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Spectrum Brands by 92.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 544 shares of the company’s stock worth $52,000 after buying an additional 261 shares in 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.