Fortune Brands Home & Security (FBHS) Shares Gap Down on Analyst Downgrade

Fortune Brands Home & Security Inc (NYSE:FBHS) shares gapped down prior to trading on Monday after Barclays lowered their price target on the stock from $71.00 to $70.00. The stock had previously closed at $65.51, but opened at $64.90. Barclays currently has an equal weight rating on the stock. Fortune Brands Home & Security shares last traded at $64.53, with a volume of 1441942 shares trading hands.

Several other research analysts have also weighed in on FBHS. Jefferies Group reiterated a “buy” rating and issued a $78.00 price objective on shares of Fortune Brands Home & Security in a research note on Thursday, October 12th. Robert W. Baird restated a “buy” rating and set a $72.00 price target on shares of Fortune Brands Home & Security in a research note on Tuesday, October 24th. Credit Suisse Group increased their price target on shares of Fortune Brands Home & Security from $72.00 to $74.00 and gave the stock an “outperform” rating in a research note on Thursday, October 26th. Citigroup increased their price target on shares of Fortune Brands Home & Security from $68.00 to $71.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Finally, JPMorgan Chase & Co. increased their price target on shares of Fortune Brands Home & Security from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Monday, October 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $72.92.

In related news, Director Ronald V. Waters sold 5,000 shares of the company’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $71.50, for a total transaction of $357,500.00. Following the completion of the sale, the director now directly owns 21,674 shares of the company’s stock, valued at approximately $1,549,691. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.61% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of FBHS. Epoch Investment Partners Inc. bought a new stake in shares of Fortune Brands Home & Security during the 3rd quarter worth $84,149,000. PGGM Investments bought a new stake in shares of Fortune Brands Home & Security during the 3rd quarter worth $21,244,000. Putnam FL Investment Management Co. bought a new stake in shares of Fortune Brands Home & Security during the 3rd quarter worth $16,999,000. Victory Capital Management Inc. boosted its holdings in shares of Fortune Brands Home & Security by 27.5% during the 3rd quarter. Victory Capital Management Inc. now owns 940,134 shares of the industrial products company’s stock worth $63,205,000 after buying an additional 202,754 shares during the period. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Fortune Brands Home & Security during the 2nd quarter worth $11,962,000. 87.52% of the stock is owned by institutional investors and hedge funds.

The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.13 and a current ratio of 1.77. The stock has a market capitalization of $9,851.87, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 1.71 and a beta of 1.33.

Fortune Brands Home & Security (NYSE:FBHS) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. Fortune Brands Home & Security had a net margin of 8.95% and a return on equity of 18.73%. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the firm earned $0.71 EPS. The business’s revenue was up 6.2% on a year-over-year basis. analysts predict that Fortune Brands Home & Security Inc will post 3.63 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Friday, February 23rd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This is an increase from Fortune Brands Home & Security’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 1.24%. Fortune Brands Home & Security’s dividend payout ratio is 23.53%.

Fortune Brands Home & Security announced that its Board of Directors has authorized a share repurchase plan on Monday, December 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

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Fortune Brands Home & Security Company Profile

Fortune Brands Home & Security, Inc is a holding company. The Company operates through four segments. The Cabinets segment includes custom, semi-custom and stock cabinetry for the kitchen, bath and other parts of the home under brand names, including Aristokraft, Mid-Continent, Diamond, Kitchen Classics, Kitchen Craft, Schrock, Omega, Homecrest, Thomasville, StarMark and Ultracraft.

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