Spectrum Brands (NYSE:SPB) Upgraded at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Spectrum Brands (NYSE:SPB - Free Report) from a hold rating to a buy rating in a research report released on Friday, MarketBeat reports. The firm currently has $102.00 target price on the stock, up from their prior target price of $94.00.

Several other research analysts have also recently issued reports on the company. Wells Fargo & Company decreased their price target on Spectrum Brands from $92.00 to $88.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. UBS Group lowered their target price on shares of Spectrum Brands from $114.00 to $109.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $103.43.

Spectrum Brands Stock Performance

Shares of SPB traded up $0.46 during midday trading on Friday, hitting $76.55. 249,343 shares of the stock traded hands, compared to its average volume of 463,873. The business's 50 day moving average price is $86.30 and its two-hundred day moving average price is $89.08. The firm has a market capitalization of $2.09 billion, a PE ratio of 18.81, a price-to-earnings-growth ratio of 1.36 and a beta of 1.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.62 and a current ratio of 2.30. Spectrum Brands has a 1-year low of $74.72 and a 1-year high of $96.74.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.91 by $0.11. Spectrum Brands had a net margin of 4.01% and a return on equity of 6.34%. During the same period in the previous year, the business posted $0.78 earnings per share. Equities research analysts predict that Spectrum Brands will post 5.17 EPS for the current fiscal year.

Spectrum Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.88 annualized dividend and a dividend yield of 2.46%. Spectrum Brands's dividend payout ratio is currently 46.19%.

Institutional Investors Weigh In On Spectrum Brands

Several hedge funds have recently modified their holdings of SPB. Anchor Capital Advisors LLC lifted its stake in Spectrum Brands by 1.2% during the fourth quarter. Anchor Capital Advisors LLC now owns 15,596 shares of the company's stock valued at $1,318,000 after buying an additional 184 shares in the last quarter. Fox Run Management L.L.C. raised its holdings in shares of Spectrum Brands by 5.3% during the fourth quarter. Fox Run Management L.L.C. now owns 3,645 shares of the company's stock valued at $308,000 after acquiring an additional 185 shares during the period. Legato Capital Management LLC boosted its stake in Spectrum Brands by 2.2% in the 4th quarter. Legato Capital Management LLC now owns 9,299 shares of the company's stock worth $786,000 after purchasing an additional 198 shares during the period. Farther Finance Advisors LLC raised its stake in Spectrum Brands by 92.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 544 shares of the company's stock valued at $52,000 after purchasing an additional 261 shares during the period. Finally, Waldron Private Wealth LLC purchased a new stake in shares of Spectrum Brands in the third quarter valued at $27,000.

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.