Fortune Brands Innovations (NYSE:FBIN) Given New $79.00 Price Target at Barclays

Fortune Brands Innovations (NYSE:FBIN) had its price objective decreased by research analysts at Barclays from $91.00 to $79.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 15.84% from the stock’s previous close.

FBIN has been the topic of several other reports. UBS Group reduced their price target on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday. Royal Bank of Canada dropped their price target on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Friday. BMO Capital Markets boosted their price target on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Robert W. Baird lowered their target price on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group lowered their target price on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $86.64.

Fortune Brands Innovations Stock Down 1.2 %

Shares of NYSE:FBIN traded down $0.86 during midday trading on Friday, hitting $68.20. The stock had a trading volume of 3,824,408 shares, compared to its average volume of 1,526,597. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95. The business’s 50-day simple moving average is $72.52 and its 200-day simple moving average is $78.03. Fortune Brands Innovations has a 12 month low of $62.54 and a 12 month high of $90.54. The company has a market cap of $8.47 billion, a P/E ratio of 19.21, a PEG ratio of 2.09 and a beta of 1.50.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. On average, sell-side analysts forecast that Fortune Brands Innovations will post 4.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FBIN. Cetera Investment Advisers grew its holdings in Fortune Brands Innovations by 6.9% in the second quarter. Cetera Investment Advisers now owns 15,844 shares of the company’s stock worth $1,029,000 after purchasing an additional 1,022 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Fortune Brands Innovations during the second quarter worth about $433,000. GAMMA Investing LLC grew its stake in Fortune Brands Innovations by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,737 shares of the company’s stock valued at $156,000 after acquiring an additional 622 shares in the last quarter. Atomi Financial Group Inc. purchased a new stake in Fortune Brands Innovations during the 3rd quarter valued at about $236,000. Finally, CWM LLC boosted its holdings in Fortune Brands Innovations by 8.3% in the 3rd quarter. CWM LLC now owns 2,199 shares of the company’s stock valued at $197,000 after purchasing an additional 169 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

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.