RBC Capital Reiterates a Buy Rating on Spectrum Brands Holdings

By Ryan Adsit

In a report released today, Gary Bisbee from RBC Capital reiterated a Buy rating on Spectrum Brands Holdings (NYSE: SPB), with a price target of $160. The company’s shares opened today at $133.23.

According to TipRanks.com, Bisbee is a 5-star analyst with an average return of 9.0% and a 73.0% success rate. Bisbee covers the Services sector, focusing on stocks such as Ollie’s Bargain Outlet Holding, Servicemaster Global Holdings, and Corporate Executive Board.

Spectrum Brands Holdings has an analyst consensus of Strong Buy, with a price target consensus of $161.40.

Based on Spectrum Brands Holdings’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.17 billion and quarterly net profit of $58.8 million. In comparison, last year the company earned revenue of $1.22 billion and had a net profit of $75.2 million.

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Spectrum Brand Holdings, Inc. engages in the manufacture, market, and distribution of consumer products. The company operates through the following segments: Global Batteries and Appliances (GBA); Global Pet Supplies (PET); Home and Garden (H&G); and Hardware and Home Improvement (HHI); and Global Auto Care (GAC). The GBA segment includes consumer batteries; electric shaving and grooming; electric personal care; and small appliances primarily in the kitchen and home product categories. The PET segment comprises dog, cat, and small animal food and treats; and aquariums and aquatic health supplies. The H&G segment involves in home and garden and insect control business. The HHI segment offers residential locksets and builders hardware, and as plumbing products. The GBA sells products to big box auto, auto specialty retail, mass retailers, food and drug retailers, and convenience retailers. The company was founded on February 5, 2010 and is headquartered in Madison, WI.