Zacks Investment Research upgraded shares of Fortune Brands Home & Security, Inc. (NYSE:FBHS) from a hold rating to a buy rating in a research note published on Thursday morning. They currently have $75.00 price objective on the industrial products company’s stock.
According to Zacks, “In the last three months, Fortune Brands' shares outperformed the Zacks categorized Protection Safety Equipment & Services industry. We believe that the company is well positioned to benefit from its organic and inorganic initiatives in the long run. For 2017, the company raised its earnings guidance to $3.00-$3.12 per share from the earlier projection of $2.95-$3.05. Also, the company anticipates the U.S. home products market to grow 6-7% in 2017 while the global market is expected to rise 5-6%. Management predicts sales growth to be in a band of 6-8% in the year.”
FBHS has been the subject of a number of other reports. Longbow Research raised shares of Fortune Brands Home & Security from a neutral rating to a buy rating and set a $72.00 price target for the company in a report on Thursday, April 6th. Nomura initiated coverage on shares of Fortune Brands Home & Security in a report on Wednesday, April 12th. They set a neutral rating and a $65.00 price target for the company. Jefferies Group LLC reaffirmed a buy rating on shares of Fortune Brands Home & Security in a report on Thursday, April 13th. Instinet reaffirmed a hold rating on shares of Fortune Brands Home & Security in a report on Friday, April 14th. Finally, Royal Bank Of Canada reaffirmed a buy rating on shares of Fortune Brands Home & Security in a report on Thursday, April 27th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $67.73.
Fortune Brands Home & Security (NYSE FBHS) traded up 0.38% during midday trading on Thursday, hitting $65.88. 599,402 shares of the stock traded hands. Fortune Brands Home & Security has a one year low of $52.05 and a one year high of $67.50. The company’s 50-day moving average is $65.15 and its 200-day moving average is $60.95. The company has a market cap of $10.14 billion, a PE ratio of 24.04 and a beta of 1.39.
Fortune Brands Home & Security (NYSE:FBHS) last released its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.07. Fortune Brands Home & Security had a net margin of 8.48% and a return on equity of 19.01%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the prior year, the business earned $0.39 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities research analysts expect that Fortune Brands Home & Security will post $3.10 EPS for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This story was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this story on another domain, it was illegally copied and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be read at https://stocknewstimes.com/2017/07/23/fortune-brands-home-security-inc-fbhs-lifted-to-buy-at-zacks-investment-research.html.
In other news, insider David Randich sold 72,646 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $63.53, for a total value of $4,615,200.38. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher J. Klein sold 40,063 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $63.13, for a total transaction of $2,529,177.19. The disclosure for this sale can be found here. Insiders sold a total of 229,611 shares of company stock worth $14,626,719 in the last three months. Insiders own 1.61% of the company’s stock.
Large investors have recently modified their holdings of the stock. BLB&B Advisors LLC purchased a new stake in shares of Fortune Brands Home & Security during the first quarter valued at approximately $215,000. Private Trust Co. NA purchased a new stake in shares of Fortune Brands Home & Security during the first quarter valued at approximately $468,000. Gulf International Bank UK Ltd increased its stake in shares of Fortune Brands Home & Security by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 48,700 shares of the industrial products company’s stock valued at $2,963,000 after buying an additional 700 shares in the last quarter. Boltwood Capital Management purchased a new stake in shares of Fortune Brands Home & Security during the first quarter valued at approximately $203,000. Finally, Swarthmore Group Inc. increased its stake in shares of Fortune Brands Home & Security by 9.8% in the first quarter. Swarthmore Group Inc. now owns 312,000 shares of the industrial products company’s stock valued at $18,985,000 after buying an additional 27,975 shares in the last quarter. Institutional investors own 85.56% of the company’s stock.
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.
Get a free copy of the Zacks research report on Fortune Brands Home & Security (FBHS)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Fortune Brands Home & Security Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortune Brands Home & Security Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
