Credit Suisse Group Raises Fortune Brands Home & Security (NYSE:FBHS) Price Target to $83.00

Fortune Brands Home & Security (NYSE:FBHS) had its price target hoisted by Credit Suisse Group from $70.00 to $83.00 in a research note released on Thursday, The Fly reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

Several other equities analysts have also recently weighed in on FBHS. JPMorgan Chase & Co. lifted their price objective on shares of Fortune Brands Home & Security from $60.00 to $74.00 in a research report on Friday, July 10th. Deutsche Bank boosted their price target on shares of Fortune Brands Home & Security from $68.00 to $86.00 and gave the company a buy rating in a report on Thursday. Nomura boosted their price target on shares of Fortune Brands Home & Security from $58.00 to $54.00 and gave the company a buy rating in a report on Wednesday, May 27th. Nomura Securities upgraded shares of Fortune Brands Home & Security from a neutral rating to a buy rating and boosted their price target for the company from $43.00 to $55.00 in a report on Friday, April 17th. Finally, Robert W. Baird lowered shares of Fortune Brands Home & Security from an outperform rating to a neutral rating and set a $47.00 price objective for the company. in a research note on Thursday, April 16th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. Fortune Brands Home & Security presently has a consensus rating of Hold and a consensus price target of $69.63.

NYSE FBHS traded down $0.49 on Thursday, hitting $76.50. 1,344,569 shares of the stock were exchanged, compared to its average volume of 997,484. Fortune Brands Home & Security has a 52-week low of $33.90 and a 52-week high of $78.25. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.05 and a quick ratio of 0.97. The company has a market capitalization of $10.55 billion, a price-to-earnings ratio of 24.76 and a beta of 1.67. The company’s 50-day moving average price is $65.15 and its two-hundred day moving average price is $59.36.

Fortune Brands Home & Security (NYSE:FBHS) last posted its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.35. Fortune Brands Home & Security had a net margin of 7.61% and a return on equity of 21.65%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the company posted $1.03 EPS. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. Equities analysts predict that Fortune Brands Home & Security will post 3.35 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Friday, August 28th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Thursday, August 27th. Fortune Brands Home & Security’s dividend payout ratio is currently 26.67%.

In other news, SVP Brian C. Lantz sold 14,745 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $67.74, for a total transaction of $998,826.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Danny Luburic sold 2,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $60.18, for a total transaction of $120,360.00. Following the transaction, the vice president now directly owns 9,693 shares of the company’s stock, valued at approximately $583,324.74. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Guggenheim Capital LLC raised its position in shares of Fortune Brands Home & Security by 26.5% during the first quarter. Guggenheim Capital LLC now owns 96,345 shares of the industrial products company’s stock valued at $4,167,000 after buying an additional 20,168 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in Fortune Brands Home & Security by 152.7% during the first quarter. Rockefeller Capital Management L.P. now owns 700 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 423 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Fortune Brands Home & Security by 391.3% during the first quarter. Tower Research Capital LLC TRC now owns 3,650 shares of the industrial products company’s stock valued at $158,000 after purchasing an additional 2,907 shares in the last quarter. State of Tennessee Treasury Department grew its stake in shares of Fortune Brands Home & Security by 5.6% in the 1st quarter. State of Tennessee Treasury Department now owns 86,472 shares of the industrial products company’s stock valued at $3,740,000 after purchasing an additional 4,592 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of Fortune Brands Home & Security by 1.4% in the 1st quarter. Alliancebernstein L.P. now owns 222,099 shares of the industrial products company’s stock worth $9,606,000 after buying an additional 2,961 shares in the last quarter. 88.70% 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 three segments: Cabinets, Plumbing, and Doors & 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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