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

Fortune Brands Innovations, Inc. (NYSE:FBIN) has earned an average recommendation of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $77.63.

Several brokerages have recently issued reports on FBIN. Barclays raised their target price on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Oppenheimer initiated coverage on shares of Fortune Brands Innovations in a report on Friday, January 19th. They issued a “market perform” rating on the stock. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $82.00 price target (up previously from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st.

Fortune Brands Innovations Stock Down 1.2 %

Shares of NYSE FBIN opened at $75.40 on Friday. Fortune Brands Innovations has a one year low of $54.10 and a one year high of $84.92. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.70 and a quick ratio of 0.89. The firm’s 50 day simple moving average is $80.66 and its two-hundred day simple moving average is $73.32. The stock has a market capitalization of $9.48 billion, a P/E ratio of 23.79, a PEG ratio of 2.21 and a beta of 1.57.

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

Insider Buying and Selling

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $81.10, for a total transaction of $162,200.00. Following the completion of the transaction, the director now owns 2,435 shares of the company’s stock, valued at $197,478.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.99% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fortune Brands Innovations

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Intrepid Capital Management Inc. purchased a new position in Fortune Brands Innovations during the second quarter valued at $25,000. Tobam lifted its position in Fortune Brands Innovations by 1,181.5% during the fourth quarter. Tobam now owns 346 shares of the company’s stock valued at $26,000 after buying an additional 319 shares during the period. Sound Income Strategies LLC purchased a new position in Fortune Brands Innovations during the fourth quarter valued at $27,000. Principal Securities Inc. purchased a new position in Fortune Brands Innovations during the fourth quarter valued at $29,000. Finally, Operose Advisors LLC purchased a new position in Fortune Brands Innovations during the third quarter valued at $31,000. 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.