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

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Fortune Brands Home & Security (NYSE:FBHS) was downgraded by Longbow Research from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, October 12th, Marketbeat Ratings reports.

FBHS has been the subject of several other research reports. ValuEngine downgraded shares of Fortune Brands Home & Security from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 4th. Bank of America downgraded shares of Fortune Brands Home & Security from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $64.00 to $61.00 in a research note on Friday, August 10th. They noted that the move was a valuation call. Goldman Sachs Group started coverage on shares of Fortune Brands Home & Security in a research note on Tuesday, October 2nd. They set a “neutral” rating and a $64.00 target price for the company. Macquarie reduced their price target on shares of Fortune Brands Home & Security from $68.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, September 6th. Finally, Zacks Investment Research upgraded shares of Fortune Brands Home & Security from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Monday, August 6th. 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 stock currently has a consensus rating of “Hold” and an average price target of $66.86.

NYSE:FBHS traded down $0.21 on Friday, hitting $46.42. The company had a trading volume of 1,519,837 shares, compared to its average volume of 1,988,788. The company has a market cap of $6.64 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 1.01 and a beta of 1.22. 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 52 week low of $46.28 and a 52 week high of $73.62.

Fortune Brands Home & Security (NYSE:FBHS) last issued its quarterly earnings data on Thursday, July 26th. The industrial products company reported $1.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.02 by ($0.02). The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.44 billion. Fortune Brands Home & Security had a net margin of 8.53% and a return on equity of 20.07%. Fortune Brands Home & Security’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 EPS. As a group, analysts expect that Fortune Brands Home & Security will post 3.64 EPS for the current year.

In related news, Director Ronald V. Waters sold 5,000 shares of the business’s stock in a transaction dated Friday, October 5th. The shares were sold at an average price of $51.31, for a total transaction of $256,550.00. Following the transaction, 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 SEC, which can be accessed through the SEC website. 1.71% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in FBHS. Fort L.P. bought a new stake in shares of Fortune Brands Home & Security in the second quarter valued at approximately $117,000. O Brien Wealth Partners LLC bought a new stake in shares of Fortune Brands Home & Security in the third quarter valued at approximately $126,000. First Manhattan Co. raised its position in shares of Fortune Brands Home & Security by 136.4% in the third quarter. First Manhattan Co. now owns 2,600 shares of the industrial products company’s stock valued at $136,000 after purchasing an additional 1,500 shares during the period. Ironwood Investment Management LLC bought a new stake in shares of Fortune Brands Home & Security in the second quarter valued at approximately $205,000. Finally, Global X Management Co LLC raised its position in shares of Fortune Brands Home & Security by 62.8% in 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 purchasing an additional 1,616 shares during the period. Institutional investors and hedge funds own 85.41% 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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