Fortune Brands Home & Security, Inc. (NYSE:FBHS) Downgraded to Hold at BidaskClub

Fortune Brands Home & Security, Inc. (NYSE:FBHS) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Monday, July 24th.

FBHS has been the subject of a number of other research reports. Royal Bank Of Canada reissued a “buy” rating and set a $75.00 target price on shares of Fortune Brands Home & Security in a report on Tuesday, July 18th. Jefferies Group LLC reissued a “buy” rating and set a $76.00 target price on shares of Fortune Brands Home & Security in a report on Friday, July 14th. Credit Suisse Group began coverage on Fortune Brands Home & Security in a report on Thursday, June 22nd. They set an “outperform” rating and a $72.00 target price for the company. Zacks Investment Research raised Fortune Brands Home & Security from a “sell” rating to a “hold” rating in a report on Wednesday, April 5th. Finally, Longbow Research raised Fortune Brands Home & Security from a “neutral” rating to a “buy” rating and set a $72.00 price target for the company in a report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $67.73.

Fortune Brands Home & Security (NYSE:FBHS) opened at 62.50 on Monday. The stock has a market cap of $9.63 billion, a PE ratio of 22.25 and a beta of 1.39. The firm’s 50-day moving average price is $65.38 and its 200 day moving average price is $62.34. Fortune Brands Home & Security has a 12-month low of $52.05 and a 12-month high of $67.50.

Fortune Brands Home & Security (NYSE:FBHS) last announced its earnings results on Wednesday, August 2nd. The industrial products company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.05. Fortune Brands Home & Security had a return on equity of 18.93% and a net margin of 8.61%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the prior year, the firm earned $0.82 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. Analysts anticipate that Fortune Brands Home & Security will post $3.10 EPS for the current year.

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In related news, CEO Christopher J. Klein sold 40,063 shares of the stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $63.13, for a total value of $2,529,177.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO E Lee Wyatt sold 40,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $63.48, for a total value of $2,539,200.00. The disclosure for this sale can be found here. Insiders sold 193,265 shares of company stock valued at $12,386,418 over the last quarter. 1.61% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Fortune Brands Home & Security by 3.1% in the second quarter. Vanguard Group Inc. now owns 15,160,589 shares of the industrial products company’s stock valued at $989,078,000 after buying an additional 460,317 shares in the last quarter. BlackRock Inc. raised its position in Fortune Brands Home & Security by 3.3% in the second quarter. BlackRock Inc. now owns 12,998,091 shares of the industrial products company’s stock valued at $847,995,000 after buying an additional 417,624 shares in the last quarter. JPMorgan Chase & Co. raised its position in Fortune Brands Home & Security by 2.6% in the second quarter. JPMorgan Chase & Co. now owns 7,678,714 shares of the industrial products company’s stock valued at $500,961,000 after buying an additional 194,325 shares in the last quarter. American Century Companies Inc. raised its position in Fortune Brands Home & Security by 5.4% in the first quarter. American Century Companies Inc. now owns 4,550,231 shares of the industrial products company’s stock valued at $276,882,000 after buying an additional 233,895 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its position in Fortune Brands Home & Security by 25.9% in the second quarter. Pictet Asset Management Ltd. now owns 2,500,219 shares of the industrial products company’s stock valued at $157,763,000 after buying an additional 514,041 shares in the last quarter. Institutional investors and hedge funds own 85.73% of the company’s stock.

About Fortune Brands Home & Security

Fortune Brands Home & Security, Inc is a holding company. The Company operates through four segments. The Cabinets segment includes custom, semi-custom and stock cabinetry for the kitchen, bath and other parts of the home under brand names, including Aristokraft, Mid-Continent, Diamond, Kitchen Classics, Kitchen Craft, Schrock, Omega, Homecrest, Thomasville, StarMark and Ultracraft.

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