Fortune Brands Home & Security Inc (FBHS) was Initiated by BofA/Merrill to “Buy” and the brokerage firm has set the Price Target at $70. BofA/Merrill advised their investors in a research report released on Sep 23, 2016.
Many Wall Street Analysts have commented on Fortune Brands Home & Security Inc. Citigroup Initiated Fortune Brands Home & Security Inc on Sep 1, 2016 to “Neutral”, Price Target of the shares are set at $65.Company shares were Reiterated by RBC Capital Mkts on Jul 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 70 from a previous price target of $65 .Jefferies Initiated Fortune Brands Home & Security Inc on Jul 6, 2016 to “Buy”, Price Target of the shares are set at $67.
On the company’s financial health, Fortune Brands Home & Security Inc reported $0.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.73. The company had revenue of $1298.00 million for the quarter, compared to analysts expectations of $1322.54 million. The company’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS.
Fortune Brands Home & Security Inc opened for trading at $57.49 and hit $58.325 on the upside on Thursday, eventually ending the session at $58.2, with a gain of 2.05% or 1.17 points. The heightened volatility saw the trading volume jump to 14,83,887 shares. Company has a market cap of $8,957 M.
In a different news, on Aug 8, 2016, Christopher J Klein (Chief Executive Officer) sold 150,000 shares at $63.55 per share price. According to the SEC, on Aug 1, 2016, David Randich (President MasterBrand Cabinets) sold 55,600 shares at $63.12 per share price. On Aug 1, 2016, E Lee Wyatt (SVP and CFO) sold 150,000 shares at $63.59 per share price, according to the Form-4 filing with the securities and exchange commission.
Fortune Brands Home & Security Inc. is a holding company. The Company through its subsidiaries engaged in manufacture and sale of home and security products. The Company operates through four business segments: Cabinets Plumbing Doors and Security. The Cabinets segment provides cabinetry as well as vanities for the kitchen bath and other parts of the home through a regional supply chain footprint in North America. The Plumbing segment manufactures or assembles and sells faucets accessories and kitchen sinks in North America and China predominantly under the Moen brand. The Doors segment offers fiberglass and steel entry door systems under the Therma-Tru brand and urethane millwork product lines under the Fypon brand. The Security segment’s products consist of locks safety and security devices manufactured sourced and distributed under the Master Lock brand and fire resistant safes and commercial cabinets manufactured sourced and distributed under the SentrySafe brand.