Shares of Fortune Brands Home & Security (NYSE: FBHS) soar to $95.00 in Credit Suisse Group

Fortune Brands Home & Security (NYSE: FBHS – Get Rating) It boosted its price target by equity researchers at Credit Suisse Group from $90.00 to $95.00 in a report released Monday, Fly reports. The Credit Suisse group’s target price indicates a potential 33.97% higher than the company’s current price.

A number of other brokerages have recently commented on FBHS. JPMorgan Chase & Co lowered its price target on Fortune Brands Home & Security from $94.00 to $81.00 and assigned an “overweight” rating to the stock in a report on Wednesday, April 20th. Loop Capital cut Fortune Brands Home & Security rating from a “buy” rating to a “hold” rating and lowered their target price for the stock from $120.00 to $91.00 in a report on Wednesday, March 23rd. Jefferies Financial Group downgraded Fortune Brands Home & Security from a “buy” rating to a “hold” rating and lowered their target price for the stock from $120.00 to $95.00 in a report on Monday, March 21st. Barclays lowered its price target on Fortune Brands Home & Security from $100.00 to $84.00 in a report on Thursday, March 31. Finally, Wells Fargo & Company lowered its price target on Fortune Brands Home & Security from $100.00 to $78.00, and assigned an “equal” rating to the stock in a report on Thursday, April 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat data, the company has a consensus rating of “Hold” and a unanimous price target of $95.54.

FBHS stock opened at $70.91 on Monday. The company has a market capitalization of $9.28 billion, a price-to-earnings ratio of 12.62, a price-to-earnings ratio of 1.45 and a beta of 1.54. Fortune Brands Home & Security recorded a one-year low of $68.27 and a one-year high of $114.00. The company’s debt-to-equity ratio is 1.16, the trading ratio is 2.18 and the speed ratio is 1.20. The 50-day moving average for the stock is $77.29 and its 200-day moving average is $91.66.

Fortune Brands Home & Security (NYSE: FBHS – Get Rating) announced its latest earnings results on Thursday, April 28. The industrial products company reported $1.31 earnings per share for the quarter, topping analysts’ estimates of $1.26 by $0.05. Fortune Brands Home & Security had a return on equity of 26.00% and a net margin of 9.94%. Revenue was $1.92 billion for the previous quarter, compared to analyst expectations of $1.88 billion. During the same period last year, the company earned $1.36 per share. Fortune Brands Home & Security revenue for the third quarter increased 8.3% compared to the same quarter last year. As a group, analysts expect Fortune Brands Home & Security to report 6.38 earnings per share for the current year.

Fortune Brands Home & Security announced that its board of directors has begun a stock buyback plan on Wednesday, March 2, that allows the company to buy back $750.00 million in stock. This buyback license allows the industrial products company to buy back up to 6.4% of its shares through purchases on the open market. Share buyback plans are usually a sign that a company’s board of directors believes its shares are undervalued.

Several large investors have recently made changes to their positions in the business. BlackRock Inc boosted its position in shares of Fortune Brands Home & Security by 0.5% during the fourth quarter. BlackRock now owns 11,010,606 shares of the industrial products company’s stock valued at $1,177,032,000 after purchasing an additional 54,009 shares during the period. Wellington Management Group LLP raised its stake in Fortune Brands Home & Security by 7.0% during the third quarter. Wellington Management Group LLP now owns 8,870,300 shares of the industrial products company’s stock valued at $793,183,000 after acquiring an additional 583,950 shares last quarter. State Street Corp. raised its stake in Fortune Brands Home & Security by 5.5% during the fourth quarter. State Street Corp. now owns 6,552,567 shares of the industrial products company’s stock valued at $700,469,000 after purchasing an additional 338,778 shares in the last quarter. Pictet Asset Management SA raised its stake in shares of Fortune Brands Home & Security by 7.7% during the fourth quarter. Pictet Asset Management SA now owns 4,826,236 shares of the industrial products company’s stock valued at $515,925,000 after acquiring an additional 345,939 shares last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Fortune Brands Home & Security by 0.7% during the third quarter. Geode Capital Management LLC now owns 2,516,152 shares of the industrial products company’s stock valued at $224,415,000 after acquiring an additional 18,370 shares in the last quarter. Institutional investors and hedge funds own 88.19% of the company’s stock.

Fortune Brands Home & Security Company Profile (Get Rating)

Fortune Brands Home & Security, Inc. provides home and security products for residential home repair, remodeling, new construction, and security applications. It operates in three divisions: Plumbing, Outdoor & Security, and Cabinetry. The Plumbing segment manufactures, assembles and sells faucets, accessories, kitchen sinks and waste disposers under the Moen, ROHL, Riobel, Victoria + Albert, Perrin & Rowe and Shaws brands in the US, China, Canada, Mexico, US Southeast Asia, Europe and South America directly through its sales force own, as well as through independent manufacturer representatives to wholesalers, home centers, wholesale dealers and industrial distributors.

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