Spectrum Brands Holdings Inc.
) hit a new 52-week high of $76.73 yesterday before closing at
$75.58. The stock, which gathered momentum from its impressive
first-quarter fiscal 2014 performance, has amassed a return of
50.9% over the past one year. .
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The company currently trades at a forward P/E of 18.1x, a 4.1%
premium to the peer group average of 17.39x. The last traded
price is 3.9% below the Zacks Consensus average analyst price
target of $78.67. Average volume of shares traded over the last 3
months stands at approximately 201.7K.
Investors remained optimistic about the stock's performance that
saw its first-quarter earnings per share of $1.09 beating the
Zacks Consensus Estimate of $1.02 and surged 39.7% year over
year. The company's bottom-line results mainly benefited from
top-line growth and improved margins.
On an average, the stock has delivered a positive earnings
surprise of roughly 9.3% over the last 9 quarters. The company
also has a long-term EPS growth of 16%, greater than the peer
group growth rate of 11.9%, further adding optimism to the
Moreover, consolidated net sales for the quarter came in at
$1,100.6 million, up 26.5% from the year-ago comparable period of
$870.3 million, driven by the acquisition of Hardware & Home
Improvement (HHI) in Dec 2012.
This Zacks Rank #3 (Hold) stock also remains focus on boosting
shareholders' value, as evident by its recent announcement of a
20% hike in quarterly dividend to 30 cents a share. This further
underscores the company's financial position.
Spectrum Brands has been also emphasizing on expansions and
acquisitions in order to drive long-term growth. Most recently,
it ventured into a new product line with the acquisition of
leading animal repellents company The Liquid Fence Company Inc.,
which will form a part of the company's St. Louis-based United
Industries Home and Garden division.
Other than Spectrum Brands,
DST Systems Inc.
Ultra Petroleum Corp.
) also reached highs of $74.50, $93.34 and $24.25 respectively,
on Jan 30, 2014.