Fortune Brands Innovations (NYSE:FBIN) Reaches New 1-Year Low – What’s Next?

Fortune Brands Innovations, Inc. (NYSE:FBIN)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $60.42 and last traded at $60.76, with a volume of 308833 shares traded. The stock had previously closed at $61.36.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FBIN shares. The Goldman Sachs Group decreased their price objective on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Royal Bank of Canada decreased their price objective on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. UBS Group decreased their price objective on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, Barclays decreased their price objective on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, February 7th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $86.64.

Fortune Brands Innovations Stock Performance

The company has a market capitalization of $7.63 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 2.00 and a beta of 1.53. The stock has a 50-day moving average price of $68.63 and a 200-day moving average price of $76.35. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. As a group, analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the completion of the sale, the executive vice president now directly owns 10,066 shares of the company’s stock, valued at approximately $693,950.04. This trade represents a 12.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kristin Papesh acquired 483 shares of the stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the purchase, the executive vice president now owns 7,617 shares in the company, valued at approximately $472,177.83. This trade represents a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fortune Brands Innovations

A number of hedge funds have recently added to or reduced their stakes in FBIN. Brooklyn Investment Group bought a new position in Fortune Brands Innovations during the 3rd quarter worth $25,000. Flagship Wealth Advisors LLC bought a new position in shares of Fortune Brands Innovations in the 4th quarter valued at $31,000. Wingate Wealth Advisors Inc. bought a new position in shares of Fortune Brands Innovations in the 4th quarter valued at $55,000. IFP Advisors Inc increased its stake in shares of Fortune Brands Innovations by 47.6% in the 4th quarter. IFP Advisors Inc now owns 853 shares of the company’s stock valued at $62,000 after purchasing an additional 275 shares during the last quarter. Finally, Siemens Fonds Invest GmbH bought a new position in shares of Fortune Brands Innovations in the 4th quarter valued at $76,000. 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.