Today, Spectrum Brands Holdings Inc. (SPB) Cut to Hold at Zacks Investment Research

Today, Spectrum Brands Holdings Inc. (SPB) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Spectrum Brands Holdings Inc. (NYSE:SPB) from a buy rating to a hold rating in a research report report published on Tuesday.

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 research firms have also recently commented on SPB. Jefferies Group lifted their price objective on shares of Spectrum Brands Holdings from $147.00 to $157.00 and gave the stock a buy rating in a research report on Friday, July 29th. Monness Crespi & Hardt lifted their price objective on shares of Spectrum Brands Holdings from $125.00 to $138.00 and gave the stock a buy rating in a research report on Friday, July 29th. Deutsche Bank AG reaffirmed a buy rating and set a $140.00 price objective (up from $125.00) on shares of Spectrum Brands Holdings in a research report on Sunday, July 24th. Finally, Piper Jaffray Cos. started coverage on shares of Spectrum Brands Holdings in a research report on Thursday, September 1st. They issued an overweight rating and a $147.00 target price for the company. Eight analysts have rated the stock with a buy rating, The company has an average rating of Buy and a consensus target price of $142.50.

Shares of Spectrum Brands Holdings (NYSE:SPB) opened at 134.92 on Tuesday. The company’s 50 day moving average is $132.75 and its 200-day moving average is $121.79. Spectrum Brands Holdings has a 12 month low of $87.65 and a 12 month high of $138.95. The firm has a market cap of $8.01 billion, a PE ratio of 27.41 and a beta of 0.65.

Spectrum Brands Holdings (NYSE:SPB) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.73 EPS for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.04. Spectrum Brands Holdings had a net margin of 5.44% and a return on equity of 17.79%. The firm earned $1.36 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the business posted $1.42 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities research analysts predict that Spectrum Brands Holdings will post $0.53 EPS for the current year.

In other Spectrum Brands Holdings news, SVP Stacey L. Neu sold 800 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $128.04, for a total transaction of $102,432.00. Following the completion of the transaction, the senior vice president now owns 3,850 shares of the company’s stock, valued at $492,954. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David M. Maura bought 2,000 shares of the stock in a transaction on Thursday, September 15th. The shares were acquired at an average cost of $127.47 per share, with a total value of $254,940.00. The disclosure for this purchase can be found here. 0.95% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of SPB. BNP Paribas Arbitrage SA increased its position in shares of Spectrum Brands Holdings by 2.3% in the second quarter. BNP Paribas Arbitrage SA now owns 7,390 shares of the company’s stock valued at $882,000 after buying an additional 167 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of Spectrum Brands Holdings by 155.6% in the first quarter. Squarepoint Ops LLC now owns 6,900 shares of the company’s stock valued at $754,000 after buying an additional 4,200 shares during the last quarter. Royal Bank of Canada increased its position in shares of Spectrum Brands Holdings by 272.1% in the first quarter. Royal Bank of Canada now owns 2,173 shares of the company’s stock valued at $238,000 after buying an additional 1,589 shares during the last quarter. Barclays PLC increased its position in shares of Spectrum Brands Holdings by 75.2% in the first quarter. Barclays PLC now owns 24,995 shares of the company’s stock valued at $2,724,000 after buying an additional 10,725 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new position in shares of Spectrum Brands Holdings during the first quarter valued at approximately $339,000. 45.38% of the stock is owned by hedge funds and other institutional investors.

Spectrum Brands Holdings Company Profile

Spectrum Brands Holdings, Inc (SBH) is a diversified consumer products company. The Company operates through five segments: Global Batteries & Appliances, Global Pet Supplies, Home and Garden, Hardware & Home Improvement, and Global Auto Care. The Company’s Global Batteries & Appliances segment includes consumer batteries, small appliances and personal care products.

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