Wells Fargo & Company Lowers Spectrum Brands (NYSE:SPB) Price Target to $88.00

Spectrum Brands (NYSE:SPB - Get Free Report) had its price target reduced by Wells Fargo & Company from $92.00 to $88.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target would indicate a potential upside of 4.56% from the stock's current price.

Separately, Canaccord Genuity Group increased their price target on shares of Spectrum Brands from $91.00 to $94.00 and gave the stock a "hold" rating in a research report on Monday, November 18th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Spectrum Brands currently has a consensus rating of "Moderate Buy" and a consensus price target of $102.13.

Spectrum Brands Trading Up 0.1 %

Shares of NYSE:SPB traded up $0.12 during mid-day trading on Tuesday, reaching $84.16. 385,704 shares of the company were exchanged, compared to its average volume of 335,026. Spectrum Brands has a 1 year low of $75.50 and a 1 year high of $96.74. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.30 and a quick ratio of 1.62. The firm's 50-day simple moving average is $89.76 and its 200 day simple moving average is $89.19. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 1.58 and a beta of 1.20.

Spectrum Brands (NYSE:SPB - Get Free Report) last released its quarterly earnings results on Friday, November 15th. The company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.16). Spectrum Brands had a return on equity of 6.16% and a net margin of 4.21%. The firm had revenue of $773.70 million for the quarter, compared to analysts' expectations of $747.80 million. During the same quarter in the prior year, the business earned $1.36 earnings per share. The company's quarterly revenue was up 4.5% on a year-over-year basis. Equities research analysts forecast that Spectrum Brands will post 5.25 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Waldron Private Wealth LLC purchased a new stake in shares of Spectrum Brands during the 3rd quarter worth $27,000. Brooklyn Investment Group purchased a new stake in Spectrum Brands during the 3rd quarter worth about $31,000. International Assets Investment Management LLC boosted its position in shares of Spectrum Brands by 9,420.0% during the 3rd quarter. International Assets Investment Management LLC now owns 476 shares of the company's stock worth $45,000 after acquiring an additional 471 shares in the last quarter. Quarry LP increased its holdings in shares of Spectrum Brands by 375.0% in the 2nd quarter. Quarry LP now owns 570 shares of the company's stock valued at $49,000 after acquiring an additional 450 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Spectrum Brands during the second quarter worth approximately $50,000.

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.