Spectrum Brands Holdings (SPB) is Initiated by Piper Jaffray to Overweight, Price Target at $147

Spectrum Brands Holdings (SPB) was Initiated by Piper Jaffray to “Overweight” and the brokerage firm has set the Price Target at $147. Piper Jaffray advised their investors in a research report released on Sep 1, 2016.

Many Wall Street Analysts have commented on Spectrum Brands Holdings. Company shares were Reiterated by Monness Crespi & Hardt on Jul 29, 2016 to “Buy”, Firm has raised the Price Target to $ 138 from a previous price target of $125 .

On the company’s financial health, Spectrum Brands Holdings reported $1.73 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.69. The company had revenue of $1361.50 million for the quarter, compared to analysts expectations of $1356.86 million. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 EPS.

Spectrum Brands Holdings opened for trading at $131.73 and hit $132.945 on the upside on Monday, eventually ending the session at $132.07, with a gain of 0.06% or 0.08 points. The heightened volatility saw the trading volume jump to 1,71,415 shares. Company has a market cap of $7,846 M.

In a different news, on Aug 3, 2016, Stacey L Neu (SVP of Human Resources) sold 800 shares at $128.04 per share price. According to the SEC, on Jun 14, 2016, David M Maura (Executive Chairman) purchased 4,350 shares at $114.52 per share price. On Dec 4, 2015, Andreas Rouve (President, International & COO) sold 19,324 shares at $95.25 per share price, according to the Form-4 filing with the securities and exchange commission.

Spectrum Brands Holdings Inc. (SB Holdings) is a consumer products company. The Company 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. The Company operates in segments which include Global Batteries & Appliances Hardware and Home Improvement Global Pet Supplies Home and Garden and Global Auto Care. The Company manufactures and markets alkaline zinc carbon and hearing aid batteries as well as aquariums and aquatic health supplies and the designing and marketing of rechargeable batteries and electric shavers among others. The Company also offers Armor All STP and A/C PRO brands.

Spectrum Brands Holdings

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