Oppenheimer Maintains Their Buy Rating on Spectrum Brands Holdings (SPB)


Oppenheimer analyst Ian Zaffino maintained a Buy rating on Spectrum Brands Holdings (SPB) today and set a price target of $58.00. The company’s shares closed last Friday at $53.66.

According to TipRanks.com, Zaffino is a 2-star analyst with an average return of 0.0% and a 49.0% success rate. Zaffino covers the Services sector, focusing on stocks such as Madison Square Garden Entertainment, Servicemaster Global Holdings, and Madison Square Garden Sports.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Spectrum Brands Holdings with a $47.67 average price target, representing a -10.5% downside. In a report issued on July 24, RBC Capital also maintained a Buy rating on the stock with a $40.00 price target.

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Based on Spectrum Brands Holdings’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $938 million and GAAP net loss of $57 million. In comparison, last year the company earned revenue of $907 million and had a net profit of $729 million.

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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.

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