Spectrum Brands (NYSE:SPB) Reaches New 12-Month Low on Analyst Downgrade

Spectrum Brands Holdings, Inc. (NYSE:SPB - Get Free Report)'s stock price reached a new 52-week low on Thursday after Wells Fargo & Company lowered their price target on the stock from $80.00 to $75.00. Wells Fargo & Company currently has an equal weight rating on the stock. Spectrum Brands traded as low as $67.21 and last traded at $67.46, with a volume of 56921 shares traded. The stock had previously closed at $71.41.

Other equities analysts also recently issued reports about the company. UBS Group cut their target price 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. Canaccord Genuity Group upgraded Spectrum Brands from a "hold" rating to a "buy" rating and raised their price objective for the stock from $94.00 to $102.00 in a research note on Friday, February 7th. Finally, Royal Bank of Canada decreased their target price on Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating for the company in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $101.57.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Spectrum Brands by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company's stock valued at $38,089,000 after purchasing an additional 7,198 shares in the last quarter. Empowered Funds LLC purchased a new position in Spectrum Brands in the fourth quarter valued at $387,000. Everence Capital Management Inc. purchased a new position in Spectrum Brands in the fourth quarter valued at $553,000. SG Americas Securities LLC raised its position in shares of Spectrum Brands by 478.4% in the fourth quarter. SG Americas Securities LLC now owns 13,500 shares of the company's stock worth $1,141,000 after acquiring an additional 11,166 shares during the period. Finally, Wealthfront Advisers LLC purchased a new stake in shares of Spectrum Brands during the 4th quarter worth about $16,606,000.

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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 stock has a 50-day moving average price of $75.22 and a 200 day moving average price of $84.46. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.70 and a beta of 1.03.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.02 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.11. Spectrum Brands had a return on equity of 6.44% and a net margin of 4.01%. During the same period in the previous year, the firm earned $0.78 earnings per share. As a group, equities research analysts expect that Spectrum Brands Holdings, Inc. will post 5.06 earnings per share for the current year.

Spectrum Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.14%. The ex-dividend date was Tuesday, February 18th. Spectrum Brands's payout ratio is 46.19%.

About Spectrum Brands

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.