Fortune Brands Innovations (NYSE:FBIN) Price Target Raised to $92.00 at Truist Financial

Fortune Brands Innovations (NYSE:FBIN) had its price objective hoisted by Truist Financial from $82.00 to $92.00 in a research report released on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other research analysts have also issued reports about the company. BMO Capital Markets increased their target price on Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada raised their price objective on Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Evercore ISI cut their price objective on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday. The Goldman Sachs Group raised their price objective on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Barclays raised their price objective on Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Fortune Brands Innovations has an average rating of “Hold” and a consensus target price of $91.36.

Fortune Brands Innovations Trading Up 0.0 %

Shares of FBIN stock traded up $0.02 during mid-day trading on Thursday, hitting $79.14. 817,117 shares of the company’s stock were exchanged, compared to its average volume of 1,182,648. Fortune Brands Innovations has a fifty-two week low of $59.72 and a fifty-two week high of $90.54. The stock has a 50-day simple moving average of $85.00 and a two-hundred day simple moving average of $76.28. 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 stock has a market cap of $9.82 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 2.65 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.01. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The business’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period last year, the company posted $1.19 EPS. Equities analysts expect that Fortune Brands Innovations will post 4.29 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a yield of 1.21%. Fortune Brands Innovations’s dividend payout ratio (DPR) is 27.04%.

Hedge Funds Weigh In On Fortune Brands Innovations

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Family Firm Inc. acquired a new position in Fortune Brands Innovations in the second quarter valued at approximately $31,000. LRI Investments LLC acquired a new position in shares of Fortune Brands Innovations during the first quarter worth approximately $34,000. Brown Brothers Harriman & Co. boosted its position in shares of Fortune Brands Innovations by 526.5% during the second quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock worth $34,000 after buying an additional 437 shares during the period. Pathway Financial Advisers LLC acquired a new position in shares of Fortune Brands Innovations during the first quarter worth approximately $51,000. Finally, Rothschild Investment LLC acquired a new position in shares of Fortune Brands Innovations during the second quarter worth approximately $54,000. 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.