Author: Rachael Rajan

Grooming

Spectrum Brands was downgraded to Hold by analyst on delayed top-line recovery By Investing.com

© Reuters. On Friday, Canaccord Genuity adjusted its stance Spectrum Brands Holdings Inc . (NYSE:), moving from a Buy to a Hold rating, while raising the price target to $86 from $83. The rating change follows the company’s recent earnings release, which revealed sales numbers that were about 3% above consensus. Despite better-than-expected sales, Spectrum Brands experienced a 4.6% decline in organic sales, due to reduced consumer interest in kitchen appliances within its Home & Personal Care segment, softness in Pet Specialty, and SKU rationalization in both Global Pet Care and Home and Personal Care. The company’s earnings metrics appeared…

Read More