Fortune Brands Innovations (NYSE:FBIN) Price Target Lowered to $78.00 at Evercore ISI

Fortune Brands Innovations (NYSE:FBIN) had its price objective decreased by Evercore ISI from $80.00 to $78.00 in a research note released on Thursday,Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

Several other equities research analysts have also weighed in on the stock. Jefferies Financial Group increased their target price on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Robert W. Baird raised their price objective on Fortune Brands Innovations from $82.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. The Goldman Sachs Group boosted their target price on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada increased their price target on 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, JPMorgan Chase & Co. lifted their price objective on Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $91.36.

Fortune Brands Innovations Trading Down 0.1 %

Shares of NYSE FBIN traded down $0.06 during mid-day trading on Thursday, hitting $79.06. The company’s stock had a trading volume of 1,499,190 shares, compared to its average volume of 1,186,088. Fortune Brands Innovations has a one year low of $59.72 and a one year high of $90.54. The company’s fifty day simple moving average is $85.00 and its 200-day simple moving average is $76.28. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71. The stock has a market cap of $9.81 billion, a price-to-earnings ratio of 22.29, a price-to-earnings-growth ratio of 2.65 and a beta of 1.51.

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

Fortune Brands Innovations Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be issued 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 dividend yield of 1.21%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 27.04%.

Institutional Investors Weigh In On Fortune Brands Innovations

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Family Firm Inc. acquired a new stake in shares of Fortune Brands Innovations in the 2nd quarter valued at approximately $31,000. LRI Investments LLC bought a new stake in Fortune Brands Innovations during the first quarter worth $34,000. Brown Brothers Harriman & Co. raised its position in 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 acquiring an additional 437 shares in the last quarter. Pathway Financial Advisers LLC acquired a new stake in Fortune Brands Innovations in the first quarter valued at $51,000. Finally, Rothschild Investment LLC bought a new position in shares of Fortune Brands Innovations in the 2nd quarter valued at about $54,000. 87.60% of the stock is owned by institutional investors.

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.