Fortune Brands Innovations (NYSE:FBIN) PT Raised to $95.00

Fortune Brands Innovations (NYSE:FBIN) had its price target upped by equities researchers at BMO Capital Markets from $84.00 to $95.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price target suggests a potential upside of 9.10% from the company’s current price.

FBIN has been the topic of a number of other research reports. Robert W. Baird upped their price target on shares of Fortune Brands Innovations from $82.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday. Truist Financial lifted their price target on Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. The Goldman Sachs Group boosted their price target on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada raised their price objective on Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Finally, Jefferies Financial Group upped their target price on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $90.20.

Fortune Brands Innovations Stock Down 1.2 %

NYSE FBIN traded down $1.07 during trading on Tuesday, reaching $87.08. 344,060 shares of the company’s stock traded hands, compared to its average volume of 1,171,641. Fortune Brands Innovations has a 12-month low of $54.10 and a 12-month high of $90.54. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71. The firm has a market cap of $10.89 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 2.79 and a beta of 1.51. The company’s 50 day simple moving average is $83.25 and its two-hundred day simple moving average is $75.57.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.04. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the company earned $1.07 earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Fortune Brands Innovations will post 4.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Fortune Brands Innovations

A number of large investors have recently modified their holdings of the business. Van ECK Associates Corp boosted its position in Fortune Brands Innovations by 1,074.0% during the second quarter. Van ECK Associates Corp now owns 37,367 shares of the company’s stock worth $2,426,000 after acquiring an additional 34,184 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in Fortune Brands Innovations by 17.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 60,353 shares of the company’s stock worth $5,052,000 after buying an additional 8,836 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in Fortune Brands Innovations during the first quarter worth $624,000. Qsemble Capital Management LP grew its holdings in Fortune Brands Innovations by 1,091.8% in the 2nd quarter. Qsemble Capital Management LP now owns 28,459 shares of the company’s stock valued at $1,848,000 after buying an additional 26,071 shares in the last quarter. Finally, Duality Advisers LP purchased a new position in shares of Fortune Brands Innovations during the 1st quarter worth $5,498,000. Hedge funds and other 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.