Fortune Brands Home & Security (FBHS) Lowered to “Neutral” at Longbow Research

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Longbow Research lowered shares of Fortune Brands Home & Security (NYSE:FBHS) from a buy rating to a neutral rating in a research note released on Friday, Marketbeat.com reports.

Other equities analysts have also issued reports about the company. Zacks Investment Research upgraded Fortune Brands Home & Security from a hold rating to a buy rating and set a $64.00 price target on the stock in a research report on Monday, August 6th. Goldman Sachs Group initiated coverage on Fortune Brands Home & Security in a research report on Tuesday, October 2nd. They set a neutral rating and a $64.00 price target on the stock. Macquarie reduced their price target on Fortune Brands Home & Security from $68.00 to $66.00 and set an outperform rating on the stock in a research report on Thursday, September 6th. ValuEngine upgraded Fortune Brands Home & Security from a strong sell rating to a sell rating in a research report on Saturday, July 28th. Finally, Bank of America lowered Fortune Brands Home & Security from a neutral rating to an underperform rating and cut their price objective for the stock from $64.00 to $61.00 in a research report on Friday, August 10th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $67.57.

FBHS traded down $0.37 on Friday, hitting $47.63. 1,793,818 shares of the company were exchanged, compared to its average volume of 1,704,581. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.47 and a quick ratio of 0.96. Fortune Brands Home & Security has a 12 month low of $47.00 and a 12 month high of $73.62. The firm has a market cap of $7.46 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 1.13 and a beta of 1.22.

Fortune Brands Home & Security (NYSE:FBHS) last posted its quarterly earnings results 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 company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the business earned $0.92 earnings per share. Fortune Brands Home & Security’s revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fortune Brands Home & Security will post 3.64 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Friday, November 30th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.68%. Fortune Brands Home & Security’s dividend payout ratio is currently 25.97%.

In related news, Director Ronald V. Waters sold 5,000 shares of Fortune Brands Home & Security stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $51.31, for a total transaction of $256,550.00. Following the sale, the director now directly owns 14,142 shares in the company, valued at $725,626.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.71% 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 stock. Fort L.P. purchased a new stake in Fortune Brands Home & Security during the second quarter valued at $117,000. O Brien Wealth Partners LLC purchased a new stake in Fortune Brands Home & Security during the third quarter valued at $126,000. Ironwood Investment Management LLC purchased a new stake in Fortune Brands Home & Security during the second quarter valued at $205,000. Global X Management Co LLC increased its position in Fortune Brands Home & Security by 62.8% during the second quarter. Global X Management Co LLC now owns 4,188 shares of the industrial products company’s stock valued at $225,000 after acquiring an additional 1,616 shares during the last quarter. Finally, United Capital Financial Advisers LLC purchased a new stake in Fortune Brands Home & Security during the first quarter valued at $245,000. Institutional investors own 85.63% 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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