Wells Fargo & Company Cuts Spectrum Brands (NYSE:SPB) Price Target to $75.00

Spectrum Brands (NYSE:SPB - Get Free Report) had its target price dropped by investment analysts at Wells Fargo & Company from $80.00 to $75.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's price target indicates a potential upside of 23.75% from the stock's previous close.

Several other equities analysts also recently commented on SPB. Royal Bank of Canada lowered their price objective on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. Canaccord Genuity Group raised Spectrum Brands from a "hold" rating to a "buy" rating and upped their price target for the company from $94.00 to $102.00 in a research report on Friday, February 7th. Finally, UBS Group cut their price objective 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. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Spectrum Brands presently has a consensus rating of "Moderate Buy" and an average price target of $101.57.

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Spectrum Brands Trading Down 3.1 %

SPB traded down $1.91 on Wednesday, hitting $60.61. 198,610 shares of the company were exchanged, compared to its average volume of 395,779. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.53 and a current ratio of 2.40. The firm has a fifty day simple moving average of $75.72 and a two-hundred day simple moving average of $84.69. The stock has a market capitalization of $1.59 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 1.70 and a beta of 1.03. Spectrum Brands has a 12 month low of $58.67 and a 12 month high of $96.74.

Spectrum Brands (NYSE:SPB - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (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 6.44%. During the same period in the previous year, the business earned $0.78 EPS. Sell-side analysts expect that Spectrum Brands will post 5.06 earnings per share for the current year.

Hedge Funds Weigh In On Spectrum Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. increased its stake in shares of Spectrum Brands by 15.9% during the third quarter. Citigroup Inc. now owns 41,048 shares of the company's stock valued at $3,905,000 after purchasing an additional 5,641 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Spectrum Brands by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 450,807 shares of the company's stock worth $38,089,000 after buying an additional 7,198 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Spectrum Brands in the fourth quarter worth approximately $387,000. Everence Capital Management Inc. purchased a new stake in shares of Spectrum Brands during the fourth quarter valued at approximately $553,000. Finally, SG Americas Securities LLC increased its position in shares of Spectrum Brands by 478.4% during the fourth quarter. SG Americas Securities LLC now owns 13,500 shares of the company's stock valued at $1,141,000 after acquiring an additional 11,166 shares in the last quarter.

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.