Spectrum Brands Holdings Inc. [NYSE: SPB] plunged by -$9.54 during the normal trading session on Thursday and reaching a high of $59.93 during the day while it closed the day at $49.29. The company report on September 15, 2022 that Spectrum Brands’ Statement on the U.S. Department of Justice’s Opposition to the Sale of its Hardware and Home Improvement Division to ASSA ABLOY.
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Spectrum Brands Holdings, Inc. (NYSE: SPB, “Spectrum Brands” or the “Company”), a leading global branded consumer products and home essentials company focused on driving innovation and providing exceptional customer service, today announced that it will vigorously oppose the U.S. Department of Justice’s (“DOJ”) baseless attempt to block the Company’s sale of its Hardware and Home Improvement (“HHI”) business to ASSA ABLOY. Spectrum Brands and ASSA ABLOY are committed to completing the transaction and are confident that they will prevail in litigation.
On September 8, 2021, Spectrum Brands announced that it had signed an agreement to sell its HHI business to ASSA ABLOY for $4.3 billion in cash. The transaction will first and foremost benefit consumers. In ASSA ABLOY’s hands, HHI will be able to keep up with the fierce competition across today’s home security marketplace and bring consumers better innovation and product choice. The transaction will also simplify the Spectrum Brands business and advance its strategic objective of creating a pure-play Global Pet Care and Home & Garden company, allowing management to devote resources and to prioritize innovation in those units in order to accelerate long-term sustainable growth.
Spectrum Brands Holdings Inc. stock has also loss -18.35% of its value over the past 7 days. However, SPB stock has declined by -38.34% in the 3 months of the year. Over the past six months meanwhile, it has lost -46.15% and lost -51.54% year-on date.
The market cap for SPB stock reached $1.97 billion, with 41.00 million shares outstanding and 39.97 million shares in the current float. Compared to the average trading volume of 361.95K shares, SPB reached a trading volume of 4602311 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Spectrum Brands Holdings Inc. [SPB]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SPB shares is $99.86 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SPB stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Raymond James have made an estimate for Spectrum Brands Holdings Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on July 13, 2022. While these analysts kept the previous recommendation, UBS raised their target price to Buy. The new note on the price target was released on June 24, 2021, representing the official price target for Spectrum Brands Holdings Inc. stock. Previously, the target price had yet another raise from $100 to $113, while Monness Crespi & Hardt kept a Buy rating on SPB stock. On February 08, 2021, analysts increased their price target for SPB shares from 85 to 100.
The Average True Range (ATR) for Spectrum Brands Holdings Inc. is set at 2.67, with the Price to Sales ratio for SPB stock in the period of the last 12 months amounting to 1.03. The Price to Book ratio for the last quarter was 1.55, with the Price to Cash per share for the same quarter was set at 6.18. Price to Free Cash Flow for SPB in the course of the last twelve months was 75.62 with Quick ratio for the last quarter at 2.00.
SPB stock trade performance evaluation
Spectrum Brands Holdings Inc. [SPB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.35. With this latest performance, SPB shares dropped by -28.92% in over the last four-week period, additionally sinking by -46.15% over the last 6 months – not to mention a drop of -48.03% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SPB stock in for the last two-week period is set at 18.43, with the RSI for the last a single of trading hit 13.62, and the three-weeks RSI is set at 22.68 for Spectrum Brands Holdings Inc. [SPB]. The present Moving Average for the last 50 days of trading for this stock 68.01, while it was recorded at 58.39 for the last single week of trading, and 84.72 for the last 200 days.
Spectrum Brands Holdings Inc. [SPB]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Spectrum Brands Holdings Inc. [SPB] shares currently have an operating margin of +6.77 and a Gross Margin at +34.88. Spectrum Brands Holdings Inc.’s Net Margin is presently recorded at +0.50.
Return on Total Capital for SPB is now 5.04, given the latest momentum, and Return on Invested Capital for the company is 0.38. Return on Equity for this stock inclined to 1.05, with Return on Assets sitting at 0.29. When it comes to the capital structure of this company, Spectrum Brands Holdings Inc. [SPB] has a Total Debt to Total Equity ratio set at 172.47. Additionally, SPB Total Debt to Total Capital is recorded at 63.30, with Total Debt to Total Assets ending up at 48.09. Long-Term Debt to Equity for the company is recorded at 171.66, with the Long-Term Debt to Total Capital now at 63.00.
Receivables Turnover for the company is 6.76 with a Total Asset Turnover recorded at a value of 0.57.Spectrum Brands Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.70.
Earnings per share (EPS) analysis for Spectrum Brands Holdings Inc. [SPB] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SPB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Spectrum Brands Holdings Inc. go to 18.20%.
Spectrum Brands Holdings Inc. [SPB]: Insider Ownership positions
There are presently around $2,062 million, in the hands of institutional investors. The top three institutional holders of SPB stocks are: FMR LLC with ownership of 5,663,740, which is approximately 1.046% of the company’s market cap and around 1.98% of the total institutional ownership; VANGUARD GROUP INC, holding 4,017,037 shares of the stock with an approximate value of $198.0 million in SPB stocks shares; and ALLSPRING GLOBAL INVESTMENTS HOLDINGS, LLC, currently with $122.1 million in SPB stock with ownership of nearly -2.201% of the company’s market capitalization.
Positions in Spectrum Brands Holdings Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 104 institutional holders increased their position in Spectrum Brands Holdings Inc. [NYSE:SPB] by around 3,030,610 shares. Additionally, 139 investors decreased positions by around 2,646,093 shares, while 56 investors held positions by with 36,152,217 shares. The mentioned changes placed institutional holdings at 41,828,920 shares, according to the latest SEC report filing. SPB stock had 29 new institutional investments in for a total of 584,557 shares, while 41 institutional investors sold positions of 336,750 shares during the same period.