Spectrum Brands (SPB) Lowered to Strong Sell at Zacks Investment Research
Zacks Investment Research cut shares of Spectrum Brands (NYSE:SPB) from a hold rating to a strong sell rating in a research report report published on Saturday.
According to Zacks, “Spectrum Brands, Inc. and its subsidiaries operate as a global branded consumer products company. The Company has three reportable segments: Global Batteries & Personal Care; Global Pet Supplies; and Home and Garden Business. Its operations include the manufacturing and marketing of alkaline, zinc carbon and hearing aid batteries, as well as aquariums and aquatic health supplies and the designing and marketing of rechargeable batteries, battery-powered lighting products, electric shavers and accessories, grooming products and hair care appliances. The Company also provides specialty pet supplies and also herbicides, insecticides and repellents. Its portfolio of brands are Rayovac(R), Remington(R), VARTA(R), Tetra(R), Marineland(R), Nature’s Miracle(R), Dingo(R), 8-in-1(R), Spectracide(R), Cutter(R), Repel(R), and HotShot(R) with manufacturing and product development facilities located in the U.S., Europe, Asia and Latin America. Spectrum Brands, Inc. is headquartered in Atlanta, Georgia. “
A number of other equities research analysts have also recently weighed in on the stock. Wells Fargo & Co restated a buy rating and set a $132.00 price objective on shares of Spectrum Brands in a research note on Thursday. KeyCorp set a $140.00 price objective on shares of Spectrum Brands and gave the company a buy rating in a research note on Tuesday, January 16th. UBS Group lifted their price objective on shares of Spectrum Brands from $124.00 to $140.00 in a research note on Tuesday, January 16th. Jefferies Group restated a buy rating and set a $145.00 price objective on shares of Spectrum Brands in a research note on Tuesday, January 9th. Finally, Rowe restated a buy rating and set a $167.00 price objective on shares of Spectrum Brands in a research note on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $142.50.
Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.12. Spectrum Brands had a net margin of 8.80% and a return on equity of 14.79%. The business had revenue of $646.50 million for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the business earned $1.21 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. research analysts predict that Spectrum Brands will post 4.2 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Shareholders of record on Tuesday, February 20th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.57%. The ex-dividend date is Friday, February 16th. Spectrum Brands’s dividend payout ratio (DPR) is presently 25.04%.
Institutional investors have recently modified their holdings of the business. Toronto Dominion Bank raised its position in Spectrum Brands by 244.3% in the third quarter. Toronto Dominion Bank now owns 1,119 shares of the company’s stock worth $119,000 after acquiring an additional 794 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Spectrum Brands in the fourth quarter worth about $202,000. Eagle Boston Investment Management Inc. bought a new stake in Spectrum Brands in the fourth quarter worth about $201,000. Stoneridge Investment Partners LLC bought a new stake in Spectrum Brands in the third quarter worth about $214,000. Finally, Levin Capital Strategies L.P. bought a new stake in Spectrum Brands in the fourth quarter worth about $290,000. Hedge funds and other institutional investors own 47.68% of the company’s stock.
About Spectrum Brands
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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