In a report released today, Ian Zaffino from Oppenheimer assigned a Buy rating to Spectrum Brands Holdings (SPB), with a price target of $100.00. The company’s shares closed last Wednesday at $88.15, close to its 52-week high of $92.12.
According to TipRanks.com, Zaffino is a 4-star analyst with an average return of 8.5% and a 56.4% success rate. Zaffino covers the Services sector, focusing on stocks such as Madison Square Garden Entertainment, Madison Square Garden Sports, and Wyndham Hotels & Resorts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Spectrum Brands Holdings with a $100.80 average price target.
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Based on Spectrum Brands Holdings’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.15 billion and net profit of $72.1 million. In comparison, last year the company earned revenue of $872 million and had a GAAP net loss of $35.8 million.
Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SPB in relation to earlier this year.
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Spectrum Brands Holdings, Inc. engages in the manufacture and supply of residential locksets, residential builders hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn, garden and home pest control products, and personal insect repellents. It operates through the following segments: Hardware and Home Improvement (HHI); Home and Personal Care (HPC); Global Pet Care (GPC); Home and Garden (H&G). The HHI segment consists of hardware, security and plumbing business. The GPC segment focuses on the pet care business. The H&G segment involves the home and garden and insect control business. The HPC segment includes the small kitchen and personal care appliances business. The company was founded in 1906 and is headquartered in Middleton, WI.