Spectrum Brands (NYSE:SPB) Sets New 52-Week Low - Here's Why

Spectrum Brands Holdings, Inc. (NYSE:SPB - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $57.93 and last traded at $58.45, with a volume of 628055 shares. The stock had previously closed at $60.92.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SPB shares. Canaccord Genuity Group raised Spectrum Brands from a "hold" rating to a "buy" rating and increased their price objective for the company from $94.00 to $102.00 in a report on Friday, February 7th. Royal Bank of Canada dropped their target price on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. UBS Group lowered their price target on Spectrum Brands from $114.00 to $109.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Finally, Wells Fargo & Company decreased their target price on Spectrum Brands from $80.00 to $75.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Spectrum Brands presently has an average rating of "Moderate Buy" and a consensus target price of $101.57.

Spectrum Brands Price Performance

The company has a current ratio of 2.40, a quick ratio of 1.53 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $1.65 billion, a P/E ratio of 15.40, a P/E/G ratio of 1.70 and a beta of 1.03. The company has a 50 day moving average of $72.44 and a 200-day moving average of $83.20.

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Spectrum Brands (NYSE:SPB - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.44%. During the same period in the prior year, the firm earned $0.78 EPS. On average, sell-side analysts predict that Spectrum Brands Holdings, Inc. will post 5.06 EPS for the current year.

Spectrum Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were given a $0.47 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.00%. Spectrum Brands's payout ratio is 46.19%.

Institutional Investors Weigh In On Spectrum Brands

A number of large investors have recently added to or reduced their stakes in the stock. Man Group plc lifted its position in shares of Spectrum Brands by 160.5% during the 4th quarter. Man Group plc now owns 320,178 shares of the company's stock valued at $27,052,000 after acquiring an additional 197,263 shares during the period. Wealthfront Advisers LLC bought a new position in shares of Spectrum Brands in the 4th quarter valued at $16,606,000. Two Sigma Advisers LP raised its holdings in shares of Spectrum Brands by 403.9% during the 4th quarter. Two Sigma Advisers LP now owns 233,800 shares of the company's stock worth $19,754,000 after buying an additional 187,400 shares in the last quarter. Trexquant Investment LP lifted its position in shares of Spectrum Brands by 2,541.2% during the 4th quarter. Trexquant Investment LP now owns 148,698 shares of the company's stock worth $12,563,000 after buying an additional 143,068 shares during the last quarter. Finally, Callodine Capital Management LP boosted its stake in Spectrum Brands by 29.8% in the fourth quarter. Callodine Capital Management LP now owns 527,500 shares of the company's stock valued at $44,568,000 after buying an additional 121,000 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.