Fortune Brands Innovations (NYSE:FBIN) Raised to “Strong-Buy” at DA Davidson

Fortune Brands Innovations (NYSE:FBIN) was upgraded by equities researchers at DA Davidson to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

FBIN has been the topic of a number of other reports. JPMorgan Chase & Co. decreased their target price on Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, May 15th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Fortune Brands Innovations in a research note on Wednesday, August 5th. Truist Financial upgraded shares of Fortune Brands Innovations from a “hold” rating to a “buy” rating and raised their target price for the stock from $45.00 to $70.00 in a research note on Tuesday, June 30th. UBS Group lifted their target price on shares of Fortune Brands Innovations from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Barclays decreased their price target on Fortune Brands Innovations from $56.00 to $54.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $55.71.

Fortune Brands Innovations Stock Performance

FBIN opened at $45.74 on Monday. The company’s 50 day moving average is $48.83 and its 200 day moving average is $45.27. The company has a current ratio of 2.01, a quick ratio of 1.05 and a debt-to-equity ratio of 1.11. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 37.19, a PEG ratio of 3.80 and a beta of 1.31. Fortune Brands Innovations has a 12-month low of $32.34 and a 12-month high of $64.84.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Tuesday, August 4th. The company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.55. Fortune Brands Innovations had a net margin of 3.39% and a return on equity of 19.50%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the company earned $1.00 earnings per share. The firm’s revenue was down 4.1% on a year-over-year basis. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. On average, equities research analysts predict that Fortune Brands Innovations will post 3.32 EPS for the current year.

Insiders Place Their Bets

In related news, Director Edward P. Garden purchased 320,067 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were acquired at an average price of $40.60 per share, for a total transaction of $12,994,720.20. Following the purchase, the director directly owned 3,940,234 shares in the company, valued at $159,973,500.40. This trade represents a 8.84% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jesse G. Singh bought 19,560 shares of Fortune Brands Innovations stock in a transaction dated Friday, August 7th. The stock was purchased at an average cost of $50.93 per share, for a total transaction of $996,190.80. Following the completion of the acquisition, the chief executive officer directly owned 39,285 shares of the company’s stock, valued at approximately $2,000,785.05. The trade was a 99.16% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders acquired 359,352 shares of company stock worth $15,009,905. 3.32% of the stock is currently owned by insiders.

Institutional Trading of Fortune Brands Innovations

Several hedge funds have recently made changes to their positions in FBIN. Garden Investment Management L.P. bought a new stake in shares of Fortune Brands Innovations during the 1st quarter worth approximately $137,471,000. Diamond Hill Capital Management Inc. increased its stake in Fortune Brands Innovations by 7.3% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 554,244 shares of the company’s stock worth $27,723,000 after buying an additional 37,861 shares during the period. Black Cypress Capital Management LLC boosted its position in Fortune Brands Innovations by 22.6% in the 4th quarter. Black Cypress Capital Management LLC now owns 150,825 shares of the company’s stock valued at $7,544,000 after buying an additional 27,824 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Fortune Brands Innovations by 2,071.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 147,689 shares of the company’s stock worth $7,387,000 after acquiring an additional 140,888 shares during the period. Finally, Vulcan Value Partners LLC raised its holdings in shares of Fortune Brands Innovations by 18.2% in the 4th quarter. Vulcan Value Partners LLC now owns 353,520 shares of the company’s stock worth $17,683,000 after purchasing an additional 54,492 shares during the period. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

About Fortune Brands Innovations

Fortune Brands Innovations (NYSE: FBIN), formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.