Analysts Set Fortune Brands Innovations, Inc. (NYSE:FBIN) Price Target at $77.63

Fortune Brands Innovations, Inc. (NYSE:FBIN) has earned a consensus recommendation of “Hold” from the nine research firms that are presently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $78.44.

Several analysts recently issued reports on FBIN shares. Barclays boosted their price objective on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. BMO Capital Markets restated a “market perform” rating and issued a $82.00 price objective (up from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. Oppenheimer assumed coverage on shares of Fortune Brands Innovations in a research note on Friday, January 19th. They set a “market perform” rating on the stock. Finally, Robert W. Baird cut their price target on shares of Fortune Brands Innovations from $86.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday.

Fortune Brands Innovations Trading Down 1.1 %

Shares of FBIN stock opened at $73.58 on Friday. The stock has a market cap of $9.25 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 2.14 and a beta of 1.57. Fortune Brands Innovations has a twelve month low of $54.10 and a twelve month high of $84.92. The company’s 50-day moving average price is $80.44 and its 200-day moving average price is $73.33. The company has a current ratio of 1.70, a quick ratio of 0.89 and a debt-to-equity ratio of 1.16.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Tuesday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.02. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. Fortune Brands Innovations had a net margin of 8.74% and a return on equity of 22.61%. Fortune Brands Innovations’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.07 EPS. As a group, equities analysts predict that Fortune Brands Innovations will post 4.27 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ronald V. Waters sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $81.10, for a total transaction of $162,200.00. Following the sale, the director now directly owns 2,435 shares in the company, valued at $197,478.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

Institutional Trading of Fortune Brands Innovations

A number of large investors have recently made changes to their positions in the company. Tobam boosted its holdings in Fortune Brands Innovations by 1,181.5% in the fourth quarter. Tobam now owns 346 shares of the company’s stock valued at $26,000 after purchasing an additional 319 shares in the last quarter. Intrepid Capital Management Inc. acquired a new position in Fortune Brands Innovations in the second quarter valued at approximately $25,000. Sound Income Strategies LLC acquired a new position in Fortune Brands Innovations in the fourth quarter valued at approximately $27,000. Principal Securities Inc. acquired a new position in Fortune Brands Innovations in the fourth quarter valued at approximately $29,000. Finally, Rise Advisors LLC acquired a new position in Fortune Brands Innovations in the first quarter valued at approximately $38,000. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Fortune Brands Innovations Company Profile

Fortune Brands Innovations, Inc provides home and security products for residential home repair, remodeling, new construction, and security applications in the United States and internationally. The company operates through three segments: Water, Outdoors, and Security. The Water segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, Shaws, Emtek, and Schaub brands.