Fortune Brands Home & Security, Inc. (FBHS) Price Target Raised to $78.00 at J P Morgan Chase & Co

Fortune Brands Home & Security, Inc. (NYSE:FBHS) had its target price hoisted by analysts at J P Morgan Chase & Co from $70.00 to $78.00 in a research report issued to clients and investors on Monday. The firm currently has an “overweight” rating on the industrial products company’s stock. J P Morgan Chase & Co’s price objective indicates a potential upside of 16.71% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Jefferies Group LLC restated a “buy” rating and issued a $76.00 price objective on shares of Fortune Brands Home & Security in a research note on Friday, July 14th. Wells Fargo & Company downgraded Fortune Brands Home & Security from an “outperform” rating to a “market perform” rating and set a $70.00 price objective for the company. in a research note on Wednesday, July 19th. Zacks Investment Research upgraded Fortune Brands Home & Security from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Thursday, July 20th. Royal Bank Of Canada restated a “buy” rating and issued a $75.00 price objective on shares of Fortune Brands Home & Security in a research note on Tuesday, July 18th. Finally, Longbow Research upgraded Fortune Brands Home & Security from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Tuesday, July 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $70.00.

Fortune Brands Home & Security (FBHS) traded down 0.37% during trading on Monday, hitting $66.58. 78,602 shares of the company traded hands. The stock has a 50-day moving average price of $65.93 and a 200-day moving average price of $64.54. Fortune Brands Home & Security has a 12-month low of $52.56 and a 12-month high of $68.82. The firm has a market capitalization of $10.25 billion, a P/E ratio of 23.70 and a beta of 1.37.

Fortune Brands Home & Security (NYSE:FBHS) last released its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.38 billion. Fortune Brands Home & Security had a return on equity of 18.64% and a net margin of 8.62%. Fortune Brands Home & Security’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 EPS. Equities analysts expect that Fortune Brands Home & Security will post $3.08 EPS for the current fiscal year.

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In other news, CEO Christopher J. Klein sold 60,000 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $62.78, for a total transaction of $3,766,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider E Lee Wyatt sold 33,400 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $65.01, for a total value of $2,171,334.00. The disclosure for this sale can be found here. Insiders have sold a total of 136,000 shares of company stock valued at $8,715,420 in the last quarter. 1.61% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Sentry Investment Management LLC grew its stake in shares of Fortune Brands Home & Security by 1.2% during the 2nd quarter. Sentry Investment Management LLC now owns 10,287 shares of the industrial products company’s stock worth $671,000 after acquiring an additional 122 shares during the period. Eagle Asset Management Inc. grew its stake in shares of Fortune Brands Home & Security by 20.2% during the 2nd quarter. Eagle Asset Management Inc. now owns 462,498 shares of the industrial products company’s stock worth $30,173,000 after acquiring an additional 77,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Fortune Brands Home & Security by 23.1% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 40,833 shares of the industrial products company’s stock worth $2,664,000 after acquiring an additional 7,654 shares during the period. Greenwood Capital Associates LLC grew its stake in shares of Fortune Brands Home & Security by 3.8% during the 2nd quarter. Greenwood Capital Associates LLC now owns 8,918 shares of the industrial products company’s stock worth $582,000 after acquiring an additional 330 shares during the period. Finally, Boston Private Wealth LLC grew its stake in shares of Fortune Brands Home & Security by 4.8% during the 2nd quarter. Boston Private Wealth LLC now owns 27,711 shares of the industrial products company’s stock worth $1,808,000 after acquiring an additional 1,264 shares during the period. Institutional investors own 87.94% of the company’s stock.

Fortune Brands Home & Security Company Profile

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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