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Spectrum Brands price target raised to $113 from $100 at Monness Crespi » 08:3005/1005/10/21
Monness Crespi analyst…
Monness Crespi analyst Jim Chartier raised the firm's price target on Spectrum Brands to $113 from $100 and keeps a Buy rating on the shares after the company issued what he called "another big beat and raise" quarterly report. Chartier, who expects upside to the company's raised guidance, has raised his own FY21 and FY22 EBITDA estimates following the report.
Spectrum Brands price target raised to $115 from $105 at Wells Fargo » 07:3205/1005/10/21
Wells Fargo analyst Chris…
Wells Fargo analyst Chris Carey raised the firm's price target on Spectrum Brands to $115 from $105 and keeps an Overweight rating on the shares. The analyst argues that Spectrum Brands again showed why it screens as one of the most attractive names in consumer products, handily beating estimates, raising its outlook and with attractive characteristics in the current backdrop - cyclical, defensive, value.
Spectrum Brands price target raised to $108 from $104 at Deutsche Bank » 06:4805/1005/10/21
Deutsche Bank analyst…
Deutsche Bank analyst Faiza Alwy raised the firm's price target on Spectrum Brands to $108 from $104 and keeps a Hold rating on the shares. The company "handily beat" expectations both on sales and EBITDA, and raised its back-half framework for revenues reflecting better than expected sell-through trends, Alwy tells investors in a research note.
Spectrum Brands raises FY21 revenue growth view to 'mid-teens' » 06:3305/0705/07/21
Prior view was 2021…
Prior view was 2021 revenue growth in high single digits, consensus $4.31B. Foreign exchange expected to have a positive impact based upon current rates. Adjusted EBITDA is also expected to increase mid-teens (previously high single-digit growth) with the backdrop of continued transportation and commodity related inflation. Adjusted free cash flow is now expected to be between $260M-$280M (previously $250M-$270M), with plans for incremental investments in inventory levels.
Spectrum Brands board approves new three-year, $1B stock repurchase program 06:3105/0705/07/21
Spectrum Brands reports Q2 adjusted EPS $1.76, consensus $1.00 » 06:3005/0705/07/21
Reports Q2 revenue…
Reports Q2 revenue $1.15B, consensus $1.03B.
Spectrum Brands to acquire Rejuvenate for $300M » 08:3704/2104/21/21
Spectrum Brands announced…
Spectrum Brands announced it had entered into an agreement to acquire For Life Products, Rejuvenate, a leading manufacturer in the household cleaning, maintenance, and restoration segment. Rejuvenate offers a fast growing portfolio of innovative cleaning and surface care products for the entire home and is being acquired at a purchase price of approximately $300M, subject to customary adjustments. Rejuvenate joins the Spectrum Brands Home & Garden division's distinct combination of strong brands that provide consumers the best solutions to conquer nature's challenges and enjoy life. "Rejuvenate has generated impressive top and bottom-line growth over the last few years and provides Spectrum Brands with an immediate leadership position in the attractive household cleaning category that enhances our ability to meet increasing demand for home essential products. The acquisition aligns with our strategy to purchase strong, complimentary brands where we can leverage our efficient supply chain and strong customer relationships to drive future growth. With the acquisition of Rejuvenate, we are confident in our ability to create value through substantial revenue, supply chain and manufacturing synergies. In addition, the acquisition is margin accretive for us. And finally, we are very excited to build on the Rejuvenate commitment to providing quality, innovative products that clean, restore and protect the entire home" said David Maura, Chairman and Chief Executive Officer of Spectrum Brands.
Spectrum Brands management to meet virtually with Oppenheimer » 09:3603/3103/31/21
Virtual Meeting to be…
Virtual Meeting to be held on March 31 hosted by Oppenheimer.
Spectrum Brands price target raised to $105 from $95 at Wells Fargo » 07:5003/2903/29/21
Wells Fargo analyst Chris…
Wells Fargo analyst Chris Carey raised the firm's price target on Spectrum Brands to $105 from $95 and keeps an Overweight rating on the shares. The analyst says that Spectrum Brands "checks a lot of boxes right now" and thinks it should be top of the list amongst consumer/quasi-Staples stocks especially in the SMID cap realm. Underlying trends remain robust across segments and Carey expects Spectrum Brands to maintain its previously communicated outlook for inflation. The analyst could envision potential upside to numbers across divisions and thinks estimates keep pushing higher.
Baldwin Hardware expands Quick Ship program » 09:0803/1803/18/21
Spectrum Brands Holdings,…
Spectrum Brands Holdings, owner of Baldwin Hardware, announces the expansion of the Quick Ship program. With the addition of 1,950 pre-configured knob and lever sets in a variety of Estate finishes, there are now nearly 4,000 complete locksets available on a single order line, and quickly delivered in one box to eager homeowners and builders. Quick Ship ensures delivery of pre-packaged, ready-to-install hardware within five business days of shipping confirmation.