Fortune Brands Home & Security (FBHS) Rating Lowered to Neutral at Bank of America

Bank of America downgraded shares of Fortune Brands Home & Security (NYSE:FBHS) from a buy rating to a neutral rating in a research report sent to investors on Monday, Marketbeat.com reports. Bank of America currently has $62.00 target price on the industrial products company’s stock.

A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Fortune Brands Home & Security from a hold rating to a buy rating and set a $73.00 price objective for the company in a report on Monday, February 5th. Gabelli raised shares of Fortune Brands Home & Security from a hold rating to a buy rating and set a $78.00 price objective for the company in a report on Monday, February 12th. Barclays cut their price objective on shares of Fortune Brands Home & Security from $71.00 to $70.00 and set an equal weight rating for the company in a report on Friday, February 2nd. Credit Suisse Group reaffirmed an outperform rating and issued a $80.00 price objective (up previously from $74.00) on shares of Fortune Brands Home & Security in a report on Monday, January 22nd. They noted that the move was a valuation call. Finally, Nomura cut their price objective on shares of Fortune Brands Home & Security from $78.00 to $74.00 and set a neutral rating for the company in a report on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $69.20.

Shares of Fortune Brands Home & Security stock opened at $56.99 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.44 and a quick ratio of 0.90. Fortune Brands Home & Security has a 1 year low of $55.77 and a 1 year high of $56.37. The firm has a market cap of $8.17 billion, a P/E ratio of 18.45, a price-to-earnings-growth ratio of 1.24 and a beta of 1.41.

Fortune Brands Home & Security (NYSE:FBHS) last issued its earnings results on Thursday, April 26th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.03). Fortune Brands Home & Security had a return on equity of 19.01% and a net margin of 8.79%. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the business earned $0.53 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. equities analysts anticipate that Fortune Brands Home & Security will post 3.63 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 13th. Stockholders of record on Friday, May 25th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 24th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. Fortune Brands Home & Security’s dividend payout ratio is currently 25.97%.

Fortune Brands Home & Security announced that its board has approved a share repurchase program on Monday, April 30th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the industrial products company to reacquire up to 1.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

In other news, Director Ronald V. Waters sold 5,000 shares of the business’s stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $57.43, for a total transaction of $287,150.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.71% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Fortune Brands Home & Security by 9.8% during the first quarter. BlackRock Inc. now owns 13,973,812 shares of the industrial products company’s stock worth $822,920,000 after acquiring an additional 1,248,241 shares during the last quarter. Millennium Management LLC acquired a new position in Fortune Brands Home & Security during the fourth quarter worth about $64,310,000. Renaissance Technologies LLC acquired a new position in Fortune Brands Home & Security during the fourth quarter worth about $53,205,000. Amundi Pioneer Asset Management Inc. boosted its position in Fortune Brands Home & Security by 273.2% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 727,383 shares of the industrial products company’s stock worth $49,782,000 after acquiring an additional 532,488 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Fortune Brands Home & Security by 6.3% during the first quarter. JPMorgan Chase & Co. now owns 7,347,930 shares of the industrial products company’s stock worth $432,719,000 after acquiring an additional 433,386 shares during the last quarter. 91.38% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Home & Security Company Profile

Fortune Brands Home & Security, Inc, together with its subsidiaries, provides home and security products for residential home repair, remodeling, new construction, and security applications. It operates in four segments: Cabinets, Plumbing, Doors, and Security. The Cabinets segment manufactures custom, semi-custom, and stock cabinetry, as well as vanities for the kitchen, bath, and other parts of the home directly to kitchen and bath dealers, home centers, wholesalers, and builders in North America.

Analyst Recommendations for Fortune Brands Home & Security (NYSE:FBHS)

Receive News & Ratings for Fortune Brands Home & Security Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortune Brands Home & Security and related companies with MarketBeat.com's FREE daily email newsletter.



Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit