Canaccord Genuity Group Boosts Spectrum Brands (NYSE:SPB) Price Target to $94.00

Spectrum Brands (NYSE:SPB - Free Report) had its target price raised by Canaccord Genuity Group from $91.00 to $94.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other equities research analysts have also weighed in on the stock. UBS Group boosted their price objective on shares of Spectrum Brands from $111.00 to $120.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Wells Fargo & Company upped their price target on shares of Spectrum Brands from $87.00 to $90.00 and gave the company an "equal weight" rating in a research report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Spectrum Brands from $91.00 to $94.00 and gave the company a "hold" rating in a research note on Friday, August 9th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $102.38.

Spectrum Brands Price Performance

NYSE:SPB traded up $2.01 during midday trading on Monday, hitting $90.23. The company had a trading volume of 655,530 shares, compared to its average volume of 386,291. The company has a market capitalization of $2.53 billion, a PE ratio of 21.62, a P/E/G ratio of 0.25 and a beta of 1.23. The company has a quick ratio of 1.61, a current ratio of 2.28 and a debt-to-equity ratio of 0.26. Spectrum Brands has a 52-week low of $65.27 and a 52-week high of $96.74. The stock's fifty day moving average price is $91.49 and its 200-day moving average price is $89.53.

Spectrum Brands (NYSE:SPB - Get Free Report) last announced its quarterly earnings data on Friday, November 15th. The company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.16). The firm had revenue of $773.70 million for the quarter, compared to the consensus estimate of $747.80 million. Spectrum Brands had a net margin of 4.21% and a return on equity of 6.11%. Spectrum Brands's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.36 earnings per share. As a group, research analysts expect that Spectrum Brands will post 6.12 earnings per share for the current year.

Spectrum Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Tuesday, November 26th. This is an increase from Spectrum Brands's previous quarterly dividend of $0.42. Spectrum Brands's dividend payout ratio is currently 41.18%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. M&T Bank Corp purchased a new stake in shares of Spectrum Brands in the 3rd quarter worth about $221,000. Barclays PLC raised its stake in Spectrum Brands by 71.4% in the third quarter. Barclays PLC now owns 35,407 shares of the company's stock worth $3,369,000 after buying an additional 14,746 shares in the last quarter. National Bank of Canada FI lifted its holdings in Spectrum Brands by 10,046.3% in the third quarter. National Bank of Canada FI now owns 44,441 shares of the company's stock worth $4,228,000 after buying an additional 44,003 shares during the period. Wellington Management Group LLP boosted its position in Spectrum Brands by 7.6% during the 3rd quarter. Wellington Management Group LLP now owns 513,025 shares of the company's stock valued at $48,809,000 after acquiring an additional 36,063 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Spectrum Brands by 1.3% during the 3rd quarter. State Street Corp now owns 590,222 shares of the company's stock worth $56,154,000 after acquiring an additional 7,783 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.