In a research note released on Friday, analysts at Wells Fargo & Company cut their price objective for Spectrum Brands (NYSE: SPB), as reported by Benzinga. The previous price goal of $95.00 has been revised to $80.00 as the new price objective. The stock now carries an overweight rating after the company changed its recommendation. According to the price objective provided by Wells Fargo & Company, the price of the company’s stock can increase by 62.30 percent from where it is currently trading. Other research analysts have recently authored studies on the stock, which have recently been published. On July 12, Raymond James released a research note on the company’s website, signaling the beginning of the investment firm’s coverage of shares of Spectrum Brands.
They gave the stock a rating of “market perform,” which indicates that it should continue to trade at the same price. Monness Crespi & Hardt lowered them “buy” rating and price target on Spectrum Brands shares from $100 to $70.00 in a research report published on Friday. The report stated that the price target had been reduced from $100. According to the report, they anticipate the share price will reach $70.00. In a research report published on Monday, July 18, Oppenheimer decreased their target price on Spectrum Brands shares from $125.00 to $95.00 and gave the company an “outperform” rating in a research report. The “buy” recommendation that Deutsche Bank Aktiengesellschaft had previously assigned to Spectrum Brands shares was replaced with a “sell” rating, and the price objective was lowered from $90.00 to $68.00. A research note distributed on Friday made both of these updates available to the general public. In a report that was released on Monday, August 15, UBS Group gave a “buy” rating to the company in a report.
However, in the same report, the firm lowered its target price on Spectrum Brands shares from $109.00 to $100.00. According to the study, the company was given a “buy” recommendation. Seven separate financial analysts have provided the stock with a recommendation to buy, while one has suggested selling it, and one has it categorized as a hold. One analyst has given the stock a recommendation to sell it. According to data from Bloomberg, the shares currently carry an average recommendation of “Moderate Buy,” Market experts have established a consensus price objective of $87.50 for the company. This past Friday, the price of a single share of Spectrum Brands was set to commence trading at $49.29. The stock’s 50-day moving average is currently at $67.63, while its 200-day moving average is $79.93. Both of these moving averages are sitting above their respective 50-day moving averages. A price-to-earnings ratio of 19.33, a beta of 1.30, and a market capitalization of $2.01 billion are some metrics describing the company.
The debt-to-equity ratio is calculated to be 2.45, the quick ratio is calculated to be 2.02, and the current ratio is calculated to be 2.66. Spectrum Brands achieved a one-year high of $107.22 and a one-year low of $48.59 during the period covered by this report.
Spectrum Brands’ most recent earnings report, which was released on August 12 and can be found under the ticker code “SPB” on the New York Stock Exchange, Earnings per share for the quarter were reported by the firm at $0.54, which was $0.88 less than the average estimate of $1.42. The actual sales for the company for the quarter came in at $818.00 million, which was lower than the average estimate of $917.88 million used. The return on equity for Spectrum Brands was 3.85%, and the net margin for the company was 3.41%. When compared to the same period in the prior year, Spectrum Brands had a 10% rise in revenue from their product sales. As a result, the company generated revenue equivalent to $1.57 per share compared to the prior period. Equity research experts think Spectrum Brands will earn $1.27 per share by the end of the current fiscal year.
Hedge funds and other institutional investors have been actively purchasing and selling SPB shares. Pinebridge Investments L.P. increased its overall stake in Spectrum Brands to a level that was 233.0% higher than it was before the second quarter of 2018. Following the conclusion of the allotted amount of time, Pinebridge Investments L.P. was successful in acquiring an additional 233 shares of the corporation. This brings the total number of shares the firm has to 333, each worth $27,000. The value of Captrust Financial Advisors’ investment in Spectrum Brands climbed by 31.7% during the first three months of the year. The most recent quarter saw Captrust Financial Advisors acquire an additional 121 shares of the company’s stock, bringing the total number of shares directly owned by the firm to 503, with a value of $45,000. This brings the firm’s total number of directly owned shares to a cumulative total of 503. A fresh investment of $65,000 was made in Spectrum Brands by Quent Capital LLC during the final three months of 2018. MetLife Investment Management LLC increased its stake in Spectrum Brands by 1,012.7 percent during the first three months of 2018.
MetLife Investment Management LLC now holds 879 shares of the company’s stock, which has a value of $78,000 after purchasing an additional 800 shares during the most recent quarter. These shares were acquired as a result of an acquisition of an additional 800 shares during the most recent quarter. Spectrum Brands received a new investment from Point72 Hong Kong Ltd. for approximately $87,000 during the fourth quarter. This was the first time that the firm had invested money in the company.
Spectrum Brands Holdings, Inc. is a corporation that specializes in consumer goods and operates its businesses in several different nations. This shop is divided into three sections: home and personal care, global pet care, and home and garden, and each of these sections contain various products. Black & Decker, Russell Hobbs, George Foreman, Toastmaster, Juiceman, Farberware, and Breadman are some brand names used to promote home appliances. Remington and LumaBella are trademarks that are used for marketing personal care products.