Here's What Analysts Are Saying About Spectrum Brands Holdings (SPB)

Spectrum Brands Holdings, Inc. (NYSE:SPB) is one of the best pet stocks to buy according to hedge funds. RBC Capital lifted the price target on Spectrum Brands Holdings, Inc. (NYSE:SPB) to $85 from $75 on February 6, maintaining an Outperform rating on the shares. The firm updated the price target on the stock after it reported mixed fiscal Q1 results, with in-line EBITDA and weaker-than-expected organic growth. Despite these trends and the continued headwinds experienced by the company, the firm stated that management maintained an optimistic tone.

The same day, Oppenheimer also lifted the price target on Spectrum Brands Holdings, Inc. (NYSE:SPB) to $85 from $75. The firm reaffirmed an Outperform rating on the shares, noting that the company’s fiscal Q1 revenue of $677 million beat its estimates of $674 million and the Street’s estimates of $668 million, with the trends driven primarily by pet care growth.

Spectrum Brands Holdings, Inc. (NYSE:SPB) also received a rating update from Canaccord on February 6. The firm raised the price target on the stock to $94 from $84, maintaining a Buy rating and telling investors that the company reported fiscal Q1 results with sales about 1% above consensus, adjusted EBITDA roughly 8% ahead, and adjusted EPS far exceeding expectations.

Spectrum Brands Holdings, Inc. (NYSE:SPB) is a global manufacturer of branded home essentials and consumer products, and has a global pet care segment. It offers small household appliances, lawn and garden products, home pest control products, and others. The company manufactures, sells, and markets its products across Europe, the Middle East and Africa, North America, Latin America, and Asia-Pacific.

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Disclosure: None. This article is originally published at Insider Monkey.