How Raymond James Currently Rates Spectrum Brands (NYSE:SPB)
In an analyst research report sent to investors and clients on 15 December, expert analysts at Raymond James commenced coverage coverage on Spectrum Brands (NYSE:SPB) shares. The investment house issued a key “Outperform” rating for SPB stock.
From a total of 7 analysts covering Spectrum Brands (NYSE:SPB) stock, 7 rate it a ”Buy”, 0 a “Sell”, and 2 a ”Hold”. This means that 78% of the ratings are positive. The highest target price is $116 while the lowest target price is $108. The mean of all analyst targets is $112.86 with a 14.41% above today’s ($97.89) stock price. Spectrum Brands was the topic of 3 analyst reports since August 6, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on August 20 with “Outperform” rating. Deutsche Bank maintained SPB stock in a recent report from August 6 with “Buy” rating.
The stock increased 1.36% or $1.31 on December 15, striking $97.89. Approximately 236,157 shares of stock traded hands. Spectrum Brands Holdings, Inc. (NYSE:SPB) has risen 5.55% since May 12, 2015 and is uptrending. It has outperformed by 9.23% the S&P500.
The overall sentiment of institutions has decreased to 1.01 in Q2 2015. Its down 0.33, from 1.34 in 2015Q2. The ratio worsened, as 32 institutions have sold all the shares of Spectrum Brands Holdings, Inc. that they owned while 67 funds have taken shares off the table. 34 funds have purchased shares for the first time while 66 added to their positions. These institutions now hold 21.76 million shares or 3.93% less than the 22.65 million shares they owned in 2015Q2.
The Fund Kortright Capital Partners Lp currently is holding shares equating to 7.95% of its total portfolio in Spectrum Brands Holdings, Inc. representing a total of 81,300 shares. Another fund,Venator Capital Management Ltd., is holding a total of 49,200 shares equating to 6.23% of their holdings. Additionally, Dynamo Internacional Gestao De Recursos Ltda. has a 220,920 share stake in Spectrum Brands Holdings, Inc. which represents 6.04% of their total portfolio. The Fund, Cyrus Capital Partners L.P., based out of New York, has also built up a stake in the stock, which represents a total of 5.58% of their total portfolio. Finally Cypress Funds Llc, a fund which is based in the state of California reported a total holdings of 197,000 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 24, 2015, shareholders of Spectrum Brands Holdings, Inc. have witnessed 0 buys, and a total of 4 selling transactions equating to a net activity of approximately $4.00 million . Lumley David R sold 10,000 shares worth approximately $965,400. Hrg Group – Inc. bought 3.05 million shares worth approximately $281.75 million.
Spectrum Brands Holdings, Inc. is a consumer products company. The company has a market cap of $5.71 billion. The Firm supplies consumer batteries, residential locksets, residential builder’s hardware, plumbing and accessories, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn and garden and home pest control products, personal insect repellents and auto care products. It has 36.4 P/E ratio. The Firm operates in divisions, which include Global Batteries & Appliances, Hardware and Home Improvement, Global Pet Supplies, Home and Garden, and Global Auto Care.
According to Zacks Investment Research, “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.”