Oppenheimer analyst Ian Zaffino maintained a Hold rating on Spectrum Brands Holdings (SPB) today. The company’s shares opened today at $54.11.
Zaffino observed:
“FY1Q19 revenues declined 4.9% (-3.4% organically), and EBITDA of $115.3M slightly missed Street’s $117M, as a recovery in Pet was offset by tough comps at HHI and HPC. Management expects a typical recovery in 2H, as comps ease and HHI and H&G enter seasonally strong periods. SPB reiterated FY2019 guidance of $560-580M, which includes significant increases in investment spending in key segments to improve product offerings. Following the closing of Battery and GAC, SPB allocated ~$2.2B of proceeds toward deleveraging and remains on track to achieve ~3.5x leverage exiting FY19. Maintain Perform.”
According to TipRanks.com, Zaffino is a 3-star analyst with an average return of 0.5% and a 50.6% success rate. Zaffino covers the Services sector, focusing on stocks such as Servicemaster Global Holdings, Wyndham Hotels & Resorts Inc, and frontdoor inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Spectrum Brands Holdings with a $64.60 average price target.
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The company has a one-year high of $92.72 and a one-year low of $40.54. Currently, Spectrum Brands Holdings has an average volume of 680.6K.
Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock.
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Spectrum Brands Holdings, Inc. manufactures and supplies consumer batteries, residential locksets, residential builders hardware, plumbing, shaving & grooming products, personal care products, small household appliances, specialty pet supplies, lawn, garden and home pest control products, personal insect repellents, and auto care products.
