Are Investors Overlooking Spectrum Brands?
Spectrum Brands Holdings (NYSE: SPB), the owner of many household name brands including Kwikset, Pfister, Remington, George Foreman, and Black & Decker, received tepid appreciation from shareholders last week. Stock in the consumer goods manufacturer rose roughly 2.5% on Feb. 5 following the release of the organization's fiscal first-quarter 2021 earnings.
Results were exemplary. The company reported a year-over-year top-line increase of 31%, with 28 percentage points of the advance resulting from organic growth. Spectrum booked net income of $72 million, against a loss of $36 million in the first quarter of fiscal 2020. The reaction from investors fits a pattern. Although the "SPB" symbol appreciated by a decent 22% last year, it's lagged many fellow consumer goods tickers that have flourished during COVID-19.
Spectrum Brands' global pet business is one of many promising revenue streams. Image source: Getty Images.
Source Fool.com
