Royal Bank Of Canada Has Lowered Expectations for Fortune Brands Innovations (NYSE:FBIN) Stock Price

Key Points

• Royal Bank of Canada cut its price target for Fortune Brands Innovations from $57 to $49 while maintaining an “outperform” rating, implying roughly 29.6% upside from the reported $37.80 share price.
• Analyst sentiment remains mixed: the stock has a consensus rating of “Hold” and an average price target of $52.93, based on six Buy, ten Hold, one Strong Buy and one Sell rating.
• Shares fell 3.9% to $37.80, despite the company beating quarterly EPS estimates ($1.35 versus $0.80); revenue declined 4.1% year over year, and CEO Jesse Singh purchased approximately $1.02 million in shares.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) had its target price cut by research analysts at Royal Bank Of Canada from $57.00 to $49.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target would suggest a potential upside of 29.61% from the stock's current price.

A number of other analysts have also recently weighed in on the company. Weiss Ratings raised Fortune Brands Innovations from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, August 6th. Melius Research initiated coverage on Fortune Brands Innovations in a research note on Tuesday. They issued a "hold" rating and a $44.00 price objective on the stock. UBS Group boosted their target price on Fortune Brands Innovations from $63.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Evercore set a $45.00 target price on Fortune Brands Innovations in a research report on Friday, September 25th. Finally, Truist Financial upgraded Fortune Brands Innovations from a "hold" rating to a "buy" rating and increased their price target for the company from $45.00 to $70.00 in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $52.93.

Fortune Brands Innovations Stock Down 3.9%

Shares of FBIN traded down $1.54 during mid-day trading on Wednesday, hitting $37.80. 123,822 shares of the company's stock were exchanged, compared to its average volume of 2,651,498. The firm has a fifty day moving average of $43.87 and a two-hundred day moving average of $42.88. Fortune Brands Innovations has a twelve month low of $32.34 and a twelve month high of $64.84. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 30.77, a P/E/G ratio of 1.71 and a beta of 1.31. The company has a quick ratio of 1.05, a current ratio of 2.01 and a debt-to-equity ratio of 1.11.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.55. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. Fortune Brands Innovations had a net margin of 3.39% and a return on equity of 19.50%. Fortune Brands Innovations's quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 EPS. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. On average, sell-side analysts forecast that Fortune Brands Innovations will post 3.33 earnings per share for the current year.

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, CEO Jesse Singh acquired 19,725 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average price of $51.66 per share, with a total value of $1,018,993.50. Following the transaction, the chief executive officer owned 19,725 shares of the company's stock, valued at approximately $1,018,993.50. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.32% of the company's stock.

Hedge Funds Weigh In On Fortune Brands Innovations

Institutional investors and hedge funds have recently bought and sold shares of the stock. Park National Corp OH bought a new position in shares of Fortune Brands Innovations during the 3rd quarter worth about $201,000. Altar Rock LLC bought a new stake in shares of Fortune Brands Innovations in the second quarter valued at about $200,000. Sequoia Financial Advisors LLC acquired a new stake in Fortune Brands Innovations during the second quarter worth about $1,260,000. Tidal Investments LLC grew its position in Fortune Brands Innovations by 42.0% during the second quarter. Tidal Investments LLC now owns 25,805 shares of the company's stock worth $1,417,000 after buying an additional 7,638 shares in the last quarter. Finally, Community Bank N.A. increased its stake in Fortune Brands Innovations by 59.4% during the second quarter. Community Bank N.A. now owns 765 shares of the company's stock valued at $42,000 after acquiring an additional 285 shares during the period. Institutional investors own 87.60% of the company's stock.

Fortune Brands Innovations Company Profile

Fortune Brands Innovations, Inc is a manufacturer and marketer of products used in residential construction, renovation and outdoor living. The company operates a portfolio of brands focused on water, doors, outdoor living and home security products.

Its water-related products include faucets, showers and other plumbing fixtures marketed under brands such as Moen, House of Rohl, ROHL, Perrin & Rowe and Aqualisa. Its doors and outdoor living businesses offer entry doors, storm and screen doors, decking, railing, fencing and related building products through brands including Therma-Tru, Larson, Fiberon and Fypon.

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