Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives $83.20 Consensus Target Price from Brokerages

Fortune Brands Innovations, Inc. (NYSE:FBIN) has received an average recommendation of “Hold” from the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $88.10.

A number of research firms have recently commented on FBIN. JPMorgan Chase & Co. boosted their price objective on Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Jefferies Financial Group upped their price target on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial raised their price objective on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Royal Bank of Canada boosted their target price on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Finally, Barclays raised their target price on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday.

Institutional Investors Weigh In On Fortune Brands Innovations

Hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC purchased a new stake in Fortune Brands Innovations in the 4th quarter worth approximately $216,000. TD Asset Management Inc boosted its position in Fortune Brands Innovations by 27.8% during the fourth quarter. TD Asset Management Inc now owns 12,146 shares of the company’s stock valued at $925,000 after purchasing an additional 2,645 shares during the last quarter. Rafferty Asset Management LLC grew its stake in Fortune Brands Innovations by 26.9% in the fourth quarter. Rafferty Asset Management LLC now owns 38,795 shares of the company’s stock valued at $2,954,000 after purchasing an additional 8,223 shares in the last quarter. Royal London Asset Management Ltd. increased its position in Fortune Brands Innovations by 23.6% in the 4th quarter. Royal London Asset Management Ltd. now owns 53,238 shares of the company’s stock worth $4,054,000 after purchasing an additional 10,171 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Fortune Brands Innovations by 118.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 19,616 shares of the company’s stock worth $1,494,000 after purchasing an additional 10,656 shares during the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Stock Performance

FBIN stock opened at $87.30 on Friday. The company has a market capitalization of $10.83 billion, a P/E ratio of 24.73, a PEG ratio of 2.79 and a beta of 1.51. The company has a quick ratio of 0.71, a current ratio of 1.34 and a debt-to-equity ratio of 1.03. The company has a 50-day simple moving average of $81.08 and a 200 day simple moving average of $75.36. Fortune Brands Innovations has a fifty-two week low of $54.10 and a fifty-two week high of $90.54.

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

Fortune Brands Innovations Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 27.20%.

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.