Wells Fargo Cuts Spectrum Brands (SPB) Price Target to $112.00

Spectrum Brands (NYSE:SPB) had its price target lowered by Wells Fargo from $120.00 to $112.00 in a report issued on Thursday morning. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on SPB. Oppenheimer reissued a buy rating on shares of Spectrum Brands in a research note on Wednesday, December 20th. Rowe reissued a buy rating and issued a $167.00 price target on shares of Spectrum Brands in a research note on Wednesday, January 3rd. Jefferies Group reissued a buy rating and issued a $145.00 price target on shares of Spectrum Brands in a research note on Tuesday, January 9th. UBS upped their target price on Spectrum Brands from $124.00 to $140.00 in a research report on Tuesday, January 16th. Finally, KeyCorp set a $140.00 target price on Spectrum Brands and gave the company a buy rating in a research report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. Spectrum Brands presently has a consensus rating of Buy and a consensus target price of $139.80.

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Shares of SPB stock opened at $97.66 on Thursday. The stock has a market capitalization of $5,746.36, a PE ratio of 17.89, a P/E/G ratio of 1.57 and a beta of 0.78. The company has a quick ratio of 2.19, a current ratio of 2.70 and a debt-to-equity ratio of 2.01. Spectrum Brands has a 1-year low of $89.36 and a 1-year high of $146.09.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.12. The company had revenue of $646.50 million during the quarter, compared to analysts’ expectations of $1.26 billion. Spectrum Brands had a return on equity of 14.51% and a net margin of 8.80%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.21 earnings per share. research analysts predict that Spectrum Brands will post 4.33 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the stock. Schroder Investment Management Group boosted its holdings in Spectrum Brands by 9.7% in the fourth quarter. Schroder Investment Management Group now owns 960,750 shares of the company’s stock worth $107,988,000 after acquiring an additional 84,903 shares in the last quarter. OppenheimerFunds Inc. boosted its holdings in Spectrum Brands by 1.5% in the fourth quarter. OppenheimerFunds Inc. now owns 908,814 shares of the company’s stock worth $102,150,000 after acquiring an additional 13,215 shares in the last quarter. Millennium Management LLC boosted its holdings in Spectrum Brands by 296.7% in the fourth quarter. Millennium Management LLC now owns 717,699 shares of the company’s stock worth $80,669,000 after acquiring an additional 536,798 shares in the last quarter. Newbrook Capital Advisors LP bought a new position in Spectrum Brands in the fourth quarter worth approximately $76,729,000. Finally, Jane Street Group LLC boosted its holdings in Spectrum Brands by 62.9% in the fourth quarter. Jane Street Group LLC now owns 260,190 shares of the company’s stock worth $29,245,000 after acquiring an additional 100,503 shares in the last quarter. Institutional investors own 48.39% of the company’s stock.

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Spectrum Brands Company Profile

Spectrum Brands Holdings, Inc manufactures, markets, and distributes branded consumer products. Its Global Batteries & Appliances segment offers consumer batteries; personal care products, including electric shaving and grooming products, and hair care appliances and accessories; and small appliances, such as small kitchen and home appliances.

Analyst Recommendations for Spectrum Brands (NYSE:SPB)

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