Spectrum Brands (NYSE:SPB) was downgraded by Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report released on Friday, BenzingaRatingsTable reports.
SPB has been the topic of a number of other reports. Monness Crespi & Hardt reiterated a “buy” rating and issued a $77.00 price target (up from $64.00) on shares of Spectrum Brands in a research report on Thursday, May 9th. Zacks Investment Research cut GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. Deutsche Bank reiterated a “hold” rating on shares of AIB Group in a research report on Monday, April 8th. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $11.00 price target on shares of Coty in a research report on Wednesday, May 8th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Spectrum Brands has a consensus rating of “Hold” and an average price target of $57.39.
SPB opened at $51.54 on Friday. The company has a market capitalization of $2.44 billion, a PE ratio of 14.56, a PEG ratio of 8.26 and a beta of 1.84. The company has a current ratio of 1.60, a quick ratio of 0.82 and a debt-to-equity ratio of 1.21. Spectrum Brands has a 1 year low of $40.54 and a 1 year high of $92.72. The company’s 50 day moving average price is $55.82.
A number of large investors have recently made changes to their positions in SPB. FMR LLC boosted its stake in Spectrum Brands by 14.3% in the first quarter. FMR LLC now owns 7,895,443 shares of the company’s stock worth $432,511,000 after purchasing an additional 986,101 shares in the last quarter. Pzena Investment Management LLC acquired a new position in Spectrum Brands in the first quarter worth $33,401,000. Norges Bank acquired a new position in Spectrum Brands in the fourth quarter worth $16,899,000. Bank of New York Mellon Corp boosted its stake in Spectrum Brands by 247.4% in the fourth quarter. Bank of New York Mellon Corp now owns 448,768 shares of the company’s stock worth $18,961,000 after purchasing an additional 319,592 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in Spectrum Brands by 4,007.4% in the fourth quarter. Teacher Retirement System of Texas now owns 195,267 shares of the company’s stock worth $8,250,000 after purchasing an additional 190,513 shares in the last quarter.
About Spectrum Brands
Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware, Stanley, and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell brands; and plumbing products under the Pfister brand.
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