Fortune Brands Home & Security (FBHS) Downgraded to Sell at Bank of America

Fortune Brands Home & Security (NYSE:FBHS) was downgraded by stock analysts at Bank of America to a “sell” rating in a research note issued to investors on Friday. They presently have a $61.00 price target on the industrial products company’s stock. Bank of America’s price target indicates a potential upside of 9.01% from the company’s current price.

Other research analysts also recently issued reports about the stock. Credit Suisse Group decreased their target price on shares of Fortune Brands Home & Security from $80.00 to $67.00 and set a “buy” rating for the company in a research note on Friday, April 27th. Loop Capital set a $67.00 target price on shares of Fortune Brands Home & Security and gave the company a “buy” rating in a research note on Friday, April 27th. Zacks Investment Research upgraded shares of Fortune Brands Home & Security from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Monday, July 30th. Barclays decreased their target price on shares of Fortune Brands Home & Security from $70.00 to $62.00 and set an “equal weight” rating for the company in a research note on Friday, April 27th. Finally, Citigroup decreased their target price on shares of Fortune Brands Home & Security from $74.00 to $64.00 and set a “neutral” rating for the company in a research note on Monday, April 30th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Fortune Brands Home & Security currently has a consensus rating of “Hold” and an average target price of $68.77.

FBHS opened at $55.96 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.47 and a debt-to-equity ratio of 0.82. Fortune Brands Home & Security has a 52-week low of $52.63 and a 52-week high of $73.62. The company has a market cap of $8.15 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 1.23 and a beta of 1.37.

Fortune Brands Home & Security (NYSE:FBHS) last released its quarterly earnings data on Thursday, July 26th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.02). Fortune Brands Home & Security had a return on equity of 20.07% and a net margin of 8.53%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the prior year, the firm earned $0.92 earnings per share. Fortune Brands Home & Security’s quarterly revenue was up 4.7% compared to the same quarter last year. research analysts predict that Fortune Brands Home & Security will post 3.66 earnings per share for the current fiscal year.

Fortune Brands Home & Security declared that its board has approved a share buyback plan on Monday, April 30th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 1.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

A number of hedge funds and other institutional investors have recently bought and sold shares of FBHS. BlackRock Inc. boosted its stake in Fortune Brands Home & Security by 9.8% during the 1st quarter. BlackRock Inc. now owns 13,973,812 shares of the industrial products company’s stock valued at $822,920,000 after acquiring an additional 1,248,241 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Fortune Brands Home & Security by 7,185.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 544,152 shares of the industrial products company’s stock valued at $29,216,000 after acquiring an additional 536,683 shares during the last quarter. Robecosam AG bought a new position in Fortune Brands Home & Security during the 2nd quarter valued at $23,231,000. JPMorgan Chase & Co. boosted its stake in Fortune Brands Home & Security by 6.3% during the 1st quarter. JPMorgan Chase & Co. now owns 7,347,930 shares of the industrial products company’s stock valued at $432,719,000 after acquiring an additional 433,386 shares during the last quarter. Finally, Epoch Investment Partners Inc. boosted its stake in Fortune Brands Home & Security by 35.0% during the 1st quarter. Epoch Investment Partners Inc. now owns 1,635,283 shares of the industrial products company’s stock valued at $96,302,000 after acquiring an additional 424,121 shares during the last quarter. Hedge funds and other institutional investors own 85.13% of the company’s stock.

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.

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

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