Fortune Brands Innovations (NYSE:FBIN) Price Target Cut to $79.00 by Analysts at Barclays

Fortune Brands Innovations (NYSE:FBIN) had its price target decreased by stock analysts at Barclays from $91.00 to $79.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 15.84% from the company’s current price.

Other analysts have also issued reports about the stock. The Goldman Sachs Group reduced their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Robert W. Baird lowered their price objective on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. BMO Capital Markets raised their price objective on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. UBS Group decreased their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Truist Financial boosted their target price on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $86.64.

Fortune Brands Innovations Stock Performance

FBIN stock traded down $0.86 during trading on Friday, hitting $68.20. 3,824,408 shares of the company’s stock traded hands, compared to its average volume of 1,526,597. The stock has a fifty day moving average price of $72.52 and a two-hundred day moving average price of $78.03. The stock has a market capitalization of $8.47 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 2.09 and a beta of 1.50. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95. Fortune Brands Innovations has a 52 week low of $62.54 and a 52 week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. As a group, equities analysts anticipate that Fortune Brands Innovations will post 4.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Fortune Brands Innovations

A number of hedge funds have recently added to or reduced their stakes in FBIN. Cetera Investment Advisers boosted its position in shares of Fortune Brands Innovations by 6.9% during the second quarter. Cetera Investment Advisers now owns 15,844 shares of the company’s stock valued at $1,029,000 after buying an additional 1,022 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Fortune Brands Innovations in the second quarter valued at $433,000. GAMMA Investing LLC raised its stake in shares of Fortune Brands Innovations by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,737 shares of the company’s stock valued at $156,000 after purchasing an additional 622 shares during the period. Atomi Financial Group Inc. bought a new stake in shares of Fortune Brands Innovations during the 3rd quarter valued at $236,000. Finally, CWM LLC grew its position in Fortune Brands Innovations by 8.3% during the third quarter. CWM LLC now owns 2,199 shares of the company’s stock worth $197,000 after buying an additional 169 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

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.