Investors Buy Spectrum Brands (SPB) on Weakness
Traders bought shares of Spectrum Brands Holdings, Inc. (NYSE:SPB) on weakness during trading on Wednesday. $46.14 million flowed into the stock on the tick-up and $25.06 million flowed out of the stock on the tick-down, for a money net flow of $21.08 million into the stock. Of all equities tracked, Spectrum Brands had the 17th highest net in-flow for the day. Spectrum Brands traded down ($0.07) for the day and closed at $125.16
SPB has been the topic of several recent analyst reports. Jefferies Group reissued a “buy” rating and set a $142.00 target price on shares of Spectrum Brands in a research note on Thursday, November 16th. Wells Fargo & Co reissued a “buy” rating on shares of Spectrum Brands in a research note on Wednesday, December 20th. KeyCorp set a $140.00 target price on shares of Spectrum Brands and gave the stock a “buy” rating in a research note on Tuesday. BMO Capital Markets set a $132.00 target price on shares of Spectrum Brands and gave the stock a “buy” rating in a research note on Friday, November 17th. Finally, Oppenheimer reissued a “buy” rating and set a $167.00 target price on shares of Spectrum Brands in a research note on Monday, November 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. Spectrum Brands presently has a consensus rating of “Buy” and a consensus target price of $142.50.
The stock has a market capitalization of $6,942.79, a P/E ratio of 24.83, a price-to-earnings-growth ratio of 1.80 and a beta of 0.76. The company has a current ratio of 1.44, a quick ratio of 0.75 and a debt-to-equity ratio of 2.06.
Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Thursday, November 16th. The company reported $1.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.47 by ($0.12). The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Spectrum Brands had a net margin of 5.91% and a return on equity of 17.48%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.31 earnings per share. analysts forecast that Spectrum Brands Holdings, Inc. will post 6.14 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 19th. Investors of record on Tuesday, November 28th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Monday, November 27th. Spectrum Brands’s dividend payout ratio is presently 33.33%.
Institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank lifted its stake in Spectrum Brands by 244.3% in the 3rd quarter. Toronto Dominion Bank now owns 1,119 shares of the company’s stock valued at $119,000 after buying an additional 794 shares in the last quarter. SG Americas Securities LLC lifted its stake in Spectrum Brands by 50.6% in the 2nd quarter. SG Americas Securities LLC now owns 1,586 shares of the company’s stock valued at $198,000 after buying an additional 533 shares in the last quarter. Stoneridge Investment Partners LLC purchased a new position in Spectrum Brands in the 3rd quarter valued at about $214,000. Cubist Systematic Strategies LLC lifted its stake in Spectrum Brands by 20.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,766 shares of the company’s stock valued at $346,000 after buying an additional 466 shares in the last quarter. Finally, Laurion Capital Management LP purchased a new position in Spectrum Brands in the 2nd quarter valued at about $363,000. 48.24% of the stock is currently owned by hedge funds and other institutional investors.
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Spectrum Brands Company Profile
Spectrum Brands Holdings, Inc (SB Holdings) is a diversified global consumer products company. The Company manufactures, markets and/or distributes its products in approximately 160 countries in the North America (NA); Europe, the Middle East and Africa (EMEA); Latin America (LATAM), and Asia-Pacific (APAC) regions.
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