Wells Fargo & Company Has Lowered Expectations for Spectrum Brands (NYSE:SPB) Stock Price

Spectrum Brands (NYSE:SPB - Get Free Report) had its price target dropped by equities researchers at Wells Fargo & Company from $75.00 to $65.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target indicates a potential upside of 8.86% from the company's current price.

Several other equities research analysts have also recently issued reports on SPB. Royal Bank of Canada decreased their price target on shares of Spectrum Brands from $114.00 to $110.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Canaccord Genuity Group raised Spectrum Brands from a "hold" rating to a "buy" rating and lifted their price objective for the company from $94.00 to $102.00 in a research report on Friday, February 7th. Finally, UBS Group decreased their price target on 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $95.43.

Spectrum Brands Price Performance

NYSE:SPB traded up $0.56 during mid-day trading on Wednesday, hitting $59.71. 398,590 shares of the company's stock traded hands, compared to its average volume of 405,213. Spectrum Brands has a 1 year low of $57.93 and a 1 year high of $96.74. The company has a market cap of $1.57 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 1.70 and a beta of 1.03. 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's 50 day simple moving average is $70.64 and its 200 day simple moving average is $82.17.

Spectrum Brands (NYSE:SPB - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $1.02 earnings per share (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 last year, the company posted $0.78 EPS. Sell-side analysts expect that Spectrum Brands will post 5.06 EPS for the current year.

Institutional Trading of Spectrum Brands

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC acquired a new position in shares of Spectrum Brands in the 4th quarter worth approximately $50,000. Versant Capital Management Inc boosted its holdings in Spectrum Brands by 101.7% in the first quarter. Versant Capital Management Inc now owns 970 shares of the company's stock worth $69,000 after purchasing an additional 489 shares during the period. Blue Trust Inc. increased its stake in Spectrum Brands by 46.5% during the fourth quarter. Blue Trust Inc. now owns 1,182 shares of the company's stock valued at $100,000 after purchasing an additional 375 shares during the last quarter. KBC Group NV raised its holdings in shares of Spectrum Brands by 46.3% during the fourth quarter. KBC Group NV now owns 1,233 shares of the company's stock worth $104,000 after purchasing an additional 390 shares during the period. Finally, Lazard Asset Management LLC lifted its position in shares of Spectrum Brands by 89.6% in the 4th quarter. Lazard Asset Management LLC now owns 1,464 shares of the company's stock worth $123,000 after buying an additional 692 shares during 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.