Wells Fargo Maintains a Hold Rating on Spectrum Brands Holdings (SPB)


Wells Fargo analyst Sam Reid maintained a Hold rating on Spectrum Brands Holdings (SPB) today and set a price target of $70. The company’s shares opened today at $65.29, close to its 52-week low of $61.97.

Reid noted:

“We look forward to SPB’s FQ4 earnings release on 11/19 for add’l detail. Separately, we modestly lower our price target by $5 to $70 to reflect what we see as slightly lower valuation for SPB’s inherently more cyclical post-deal biz mix.”

According to TipRanks.com, Reid is ranked #4612 out of 4891 analysts.

Currently, the analyst consensus on Spectrum Brands Holdings is a Moderate Buy with an average price target of $82.67.

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Based on Spectrum Brands Holdings’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $377 million. In comparison, last year the company had a GAAP net loss of $26.2 million.

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Spectrum Brands Holdings, Inc. engages in the manufacture of diversified consumer products. It produces consumer batteries; residential locksets; residential builders’ hardware; plumbing, 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 firm offers a portfolio of brands including Rayovac, VARTA, Kwikset, Weiser, Baldwin, National Hardware, Pfister, Remington, George Foreman, Black + Decker, Tetra, Marineland, Nature’s Miracle, Dingo, 8-in-1, FURminator, IAMS and Eukanuba, Healthy-Hide, Digest-eeze, Littermaid, Spectracide, Cutter, Repel, Hot Shot, Black Flag, Liquid Fence, Armor All, STP, and A/C PRO. The company was founded on July 13, 2018 and is headquartered in Middleton, WI.

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