Deutsche Bank AG Reaffirms Buy Rating for Spectrum Brands Holdings, Inc. (NYSE:SPB)

Spectrum Brands Holdings, Inc. (NYSE:SPB)‘s stock had its “buy” rating reissued by analysts at Deutsche Bank AG in a report issued on Monday, July 31st. They presently have a $131.00 target price on the stock, down from their prior target price of $149.00. Deutsche Bank AG’s price objective would suggest a potential upside of 21.95% from the company’s current price.

A number of other analysts also recently commented on SPB. Zacks Investment Research downgraded Spectrum Brands Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, April 4th. Jefferies Group LLC reiterated a “buy” rating and set a $167.00 target price (up from $160.00) on shares of Spectrum Brands Holdings in a research report on Tuesday, April 18th. Royal Bank Of Canada reiterated a “buy” rating and set a $160.00 target price on shares of Spectrum Brands Holdings in a research report on Friday, April 21st. BMO Capital Markets set a $155.00 target price on Spectrum Brands Holdings and gave the stock a “buy” rating in a research report on Tuesday, May 2nd. Finally, BidaskClub downgraded Spectrum Brands Holdings from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $143.88.

Shares of Spectrum Brands Holdings (NYSE:SPB) traded down 0.50% during midday trading on Monday, reaching $107.42. 288,878 shares of the company’s stock traded hands. Spectrum Brands Holdings has a one year low of $106.79 and a one year high of $146.09. The company has a 50-day moving average of $117.96 and a 200-day moving average of $130.96. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 21.99 and a beta of 0.66.

Spectrum Brands Holdings (NYSE:SPB) last posted its quarterly earnings results on Thursday, July 27th. The company reported $1.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.92 by $0.21. Spectrum Brands Holdings had a net margin of 5.87% and a return on equity of 17.46%. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter last year, the firm earned $1.73 earnings per share. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. Equities research analysts anticipate that Spectrum Brands Holdings will post $5.61 EPS for the current year.

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A number of institutional investors have recently added to or reduced their stakes in SPB. BlackRock Inc. raised its position in Spectrum Brands Holdings by 5,054.7% in the first quarter. BlackRock Inc. now owns 1,208,769 shares of the company’s stock valued at $168,030,000 after buying an additional 1,185,319 shares during the last quarter. JPMorgan Chase & Co. raised its position in Spectrum Brands Holdings by 21.0% in the first quarter. JPMorgan Chase & Co. now owns 1,614,442 shares of the company’s stock valued at $224,423,000 after buying an additional 280,396 shares during the last quarter. Bank of New York Mellon Corp raised its position in Spectrum Brands Holdings by 164.2% in the first quarter. Bank of New York Mellon Corp now owns 355,613 shares of the company’s stock valued at $49,434,000 after buying an additional 221,030 shares during the last quarter. Schroder Investment Management Group raised its position in Spectrum Brands Holdings by 29.7% in the second quarter. Schroder Investment Management Group now owns 812,903 shares of the company’s stock valued at $101,084,000 after buying an additional 186,285 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Spectrum Brands Holdings by 3,962.2% in the first quarter. Renaissance Technologies LLC now owns 182,800 shares of the company’s stock valued at $25,411,000 after buying an additional 178,300 shares in the last quarter. Hedge funds and other institutional investors own 48.37% of the company’s stock.

Spectrum Brands Holdings 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.

Analyst Recommendations for Spectrum Brands Holdings (NYSE:SPB)

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