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

By Ryan Adsit

Oppenheimer analyst Ian Zaffino maintained a Buy rating on Spectrum Brands Holdings (SPBResearch Report) yesterday and set a price target of $50.00. The company’s shares closed last Friday at $35.56.

According to TipRanks.com, Zaffino is a 2-star analyst with an average return of 0.0% and a 49.4% success rate. Zaffino covers the Services sector, focusing on stocks such as Servicemaster Global Holdings, Madison Square Garden Co, and Wyndham Hotels & Resorts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Spectrum Brands Holdings with a $60.00 average price target, a 66.2% upside from current levels. In a report issued on March 23, RBC Capital also maintained a Buy rating on the stock with a $40.00 price target.

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The company has a one-year high of $66.50 and a one-year low of $19.60. Currently, Spectrum Brands Holdings has an average volume of 563.4K.

Based on the recent corporate insider activity of 31 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.