Fortune Brands Innovations (NYSE:FBIN) Rating Increased to Strong-Buy at Wells Fargo & Company

Key Points

• Wells Fargo upgraded Fortune Brands Innovations to “strong buy,” although the broader analyst consensus remains “hold,” with a consensus price target of $55.71.
• FBIN reported quarterly EPS of $1.35, well above the $0.80 estimate, while revenue of $1.15 billion fell 4.1% year over year and narrowly missed expectations.
• Company insiders purchased approximately $15.0 million of shares over the past 90 days, including sizable purchases by Director Edward P. Garden and CEO Jesse G. Singh; institutional investors own 87.6% of the stock.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) was upgraded by Wells Fargo & Company to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

Other analysts also recently issued reports about the company. Robert W. Baird set a $44.00 price target on Fortune Brands Innovations in a research note on Friday, May 8th. Royal Bank Of Canada upped their target price on Fortune Brands Innovations from $50.00 to $57.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. UBS Group raised their target price on shares of Fortune Brands Innovations from $63.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Evercore set a $56.00 price objective on shares of Fortune Brands Innovations in a research note on Wednesday, August 5th. Finally, BMO Capital Markets increased their price target on shares of Fortune Brands Innovations from $50.00 to $53.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $55.71.

Fortune Brands Innovations Stock Performance

Shares of FBIN opened at $44.96 on Monday. The stock has a market capitalization of $5.37 billion, a P/E ratio of 36.55, a P/E/G ratio of 3.77 and a beta of 1.31. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.05 and a current ratio of 2.01. Fortune Brands Innovations has a 1 year low of $32.34 and a 1 year high of $64.84. The company's fifty day moving average is $48.77 and its two-hundred day moving average is $45.38.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $1.35 EPS for the quarter, topping the consensus estimate of $0.80 by $0.55. Fortune Brands Innovations had a net margin of 3.39% and a return on equity of 19.50%. The company had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter last year, the business earned $1.00 EPS. The business's revenue was down 4.1% on a year-over-year basis. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. On average, sell-side analysts predict that Fortune Brands Innovations will post 3.32 earnings per share for the current year.

Insider Activity at Fortune Brands Innovations

In other Fortune Brands Innovations news, Director Edward P. Garden purchased 320,067 shares of the business's stock in a transaction that occurred on Wednesday, June 10th. The shares were purchased at an average price of $40.60 per share, for a total transaction of $12,994,720.20. Following the completion of the acquisition, the director owned 3,940,234 shares of the company's stock, valued at approximately $159,973,500.40. This represents a 8.84% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jesse G. Singh purchased 19,725 shares of Fortune Brands Innovations stock in a transaction on Thursday, August 6th. The shares were acquired at an average cost of $51.66 per share, for a total transaction of $1,018,993.50. Following the completion of the transaction, the chief executive officer owned 19,725 shares of the company's stock, valued at $1,018,993.50. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 359,352 shares of company stock worth $15,009,905 in the last 90 days. 3.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fortune Brands Innovations

A number of large investors have recently modified their holdings of the stock. Danske Bank A S purchased a new position in Fortune Brands Innovations in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its stake in shares of Fortune Brands Innovations by 158.3% during the second quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company's stock valued at $27,000 after purchasing an additional 323 shares during the period. Cary Street Partners Investment Advisory LLC lifted its position in shares of Fortune Brands Innovations by 1,275.0% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 550 shares of the company's stock worth $28,000 after purchasing an additional 510 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in shares of Fortune Brands Innovations during the first quarter worth $30,000. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Fortune Brands Innovations by 628.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 605 shares of the company's stock valued at $30,000 after purchasing an additional 522 shares during the period. Institutional investors and hedge funds own 87.60% of the company's stock.

About Fortune Brands Innovations

Fortune Brands Innovations NYSE: FBIN, formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.

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