Fortune Brands Home & Security (FBHS) Upgraded to Buy at Bank of America

Bank of America upgraded shares of Fortune Brands Home & Security (NYSE:FBHS) from a neutral rating to a buy rating in a research report sent to investors on Monday morning, BenzingaRatingsTable reports. The brokerage currently has $64.00 price objective on the industrial products company’s stock, up from their previous price objective of $55.00.

Other research analysts have also recently issued research reports about the stock. ValuEngine raised shares of Fortune Brands Home & Security from a sell rating to a hold rating in a research report on Monday, April 29th. Barclays cut shares of Fortune Brands Home & Security from an equal weight rating to an underweight rating and decreased their target price for the company from $45.00 to $44.00 in a research report on Thursday, April 11th. Loop Capital upped their target price on shares of Fortune Brands Home & Security to $44.00 and gave the company a hold rating in a research report on Friday, February 1st. Zacks Investment Research raised shares of Fortune Brands Home & Security from a hold rating to a buy rating and set a $56.00 target price on the stock in a research report on Monday, April 8th. Finally, Evercore ISI raised shares of Fortune Brands Home & Security from an in-line rating to an outperform rating in a research report on Monday, January 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $54.20.

Shares of FBHS stock opened at $55.16 on Monday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.90 and a current ratio of 1.49. The stock has a market cap of $7.83 billion, a PE ratio of 16.51, a PEG ratio of 1.65 and a beta of 1.49. Fortune Brands Home & Security has a twelve month low of $35.27 and a twelve month high of $58.75.

Fortune Brands Home & Security (NYSE:FBHS) last announced its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Fortune Brands Home & Security had a net margin of 7.18% and a return on equity of 22.33%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS. As a group, analysts forecast that Fortune Brands Home & Security will post 3.66 earnings per share for the current year.

In other news, SVP Brian C. Lantz sold 2,192 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $52.55, for a total transaction of $115,189.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Danny Luburic sold 2,000 shares of the stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $46.96, for a total transaction of $93,920.00. The disclosure for this sale can be found here. Insiders have sold 24,192 shares of company stock worth $1,269,110 in the last three months. Corporate insiders own 1.63% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Sumitomo Mitsui Asset Management Company LTD increased its stake in Fortune Brands Home & Security by 3.9% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 10,238 shares of the industrial products company’s stock valued at $487,000 after purchasing an additional 385 shares during the last quarter. Moors & Cabot Inc. purchased a new position in Fortune Brands Home & Security in the first quarter valued at approximately $248,000. Toronto Dominion Bank increased its stake in Fortune Brands Home & Security by 15.9% in the first quarter. Toronto Dominion Bank now owns 96,571 shares of the industrial products company’s stock valued at $4,597,000 after purchasing an additional 13,254 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its stake in Fortune Brands Home & Security by 2.8% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 12,814 shares of the industrial products company’s stock valued at $610,000 after purchasing an additional 347 shares during the last quarter. Finally, Carillon Tower Advisers Inc. increased its stake in Fortune Brands Home & Security by 8.1% in the first quarter. Carillon Tower Advisers Inc. now owns 1,108,717 shares of the industrial products company’s stock valued at $52,786,000 after purchasing an additional 82,761 shares during the last quarter. 88.29% of the stock is currently owned by institutional investors and hedge funds.

About Fortune Brands Home & Security

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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