UBS Group Cuts Fortune Brands Innovations (NYSE:FBIN) Price Target to $82.00

Fortune Brands Innovations (NYSE:FBIN) had its price target decreased by UBS Group from $90.00 to $82.00 in a research note issued to investors on Wednesday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other analysts have also recently commented on FBIN. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortune Brands Innovations in a research note on Tuesday, April 1st. They issued a “hold” rating and a $70.00 price objective for the company. Barclays lowered their price target on shares of Fortune Brands Innovations from $79.00 to $68.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada cut their target price on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Finally, The Goldman Sachs Group cut their price target 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. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $77.17.

Fortune Brands Innovations Trading Up 0.3 %

NYSE FBIN opened at $51.26 on Wednesday. Fortune Brands Innovations has a 52-week low of $47.21 and a 52-week high of $90.54. The firm has a 50-day moving average price of $56.44 and a 200 day moving average price of $67.66. The stock has a market capitalization of $6.21 billion, a P/E ratio of 13.67, a P/E/G ratio of 2.00 and a beta of 1.49. The company has a quick ratio of 0.65, a current ratio of 1.25 and a debt-to-equity ratio of 0.90.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.66 EPS for the quarter, meeting the consensus estimate of $0.66. Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the firm earned $0.83 EPS. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. Equities research analysts expect that Fortune Brands Innovations will post 4.24 EPS for the current year.

Insiders Place Their Bets

In other Fortune Brands Innovations news, EVP Kristin Papesh bought 483 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $61.99 per share, with a total value of $29,941.17. Following the transaction, the executive vice president now owns 7,617 shares in the company, valued at $472,177.83. This trade represents a 6.77 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Ron Wilson sold 1,500 shares of Fortune Brands Innovations stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $68.94, for a total transaction of $103,410.00. Following the transaction, the executive vice president now directly owns 10,066 shares in the company, valued at approximately $693,950.04. This trade represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Fortune Brands Innovations

Several large investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC grew its stake in shares of Fortune Brands Innovations by 10.9% in the third quarter. Tidal Investments LLC now owns 3,639 shares of the company’s stock valued at $326,000 after buying an additional 359 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Fortune Brands Innovations during the fourth quarter valued at approximately $280,000. Capital Investment Advisors LLC lifted its position in shares of Fortune Brands Innovations by 6.6% during the fourth quarter. Capital Investment Advisors LLC now owns 3,049 shares of the company’s stock worth $208,000 after purchasing an additional 190 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Fortune Brands Innovations by 3.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 11,754 shares of the company’s stock valued at $803,000 after purchasing an additional 385 shares in the last quarter. Finally, Professional Advisory Services Inc. increased its stake in Fortune Brands Innovations by 8.0% during the 4th quarter. Professional Advisory Services Inc. now owns 281,954 shares of the company’s stock worth $19,266,000 after buying an additional 20,948 shares during the period. 87.60% of the stock is currently owned by institutional investors and hedge funds.

About Fortune Brands Innovations

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.