Fortune Brands Innovations' (FBIN) "Hold (C-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Fortune Brands Innovations (FBIN) maintains a "hold (C-)" rating as reaffirmed by Weiss Ratings, amidst mixed opinions from various analysts, with Barclays upgrading their target price to $68.
• The company's stock rose by 2.5% on Tuesday, reaching $49.30, despite a 3.0% decline in revenue year-over-year during the last reported quarter.
• Notable insider activity includes CEO Nicholas I. Fink selling 1,522 shares, resulting in a 1.54% decrease in his ownership stake, while institutional investors own 87.60% of the stock.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report)'s stock had its "hold (c-)" rating reissued by Weiss Ratings in a report released on Tuesday,Weiss Ratings reports.

Several other equities analysts have also commented on FBIN. Barclays upped their target price on Fortune Brands Innovations from $67.00 to $68.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Royal Bank Of Canada raised Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and upped their target price for the company from $59.00 to $65.00 in a report on Friday, August 1st. Truist Financial reaffirmed a "hold" rating and set a $60.00 target price (down from $65.00) on shares of Fortune Brands Innovations in a report on Wednesday, August 27th. Loop Capital reaffirmed a "hold" rating and set a $61.00 target price (up from $53.00) on shares of Fortune Brands Innovations in a report on Monday, August 4th. Finally, UBS Group increased their price objective on Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $71.90.

Fortune Brands Innovations Stock Up 2.5%

Fortune Brands Innovations stock traded up $1.18 during midday trading on Tuesday, hitting $49.30. The stock had a trading volume of 401,791 shares, compared to its average volume of 1,895,515. The stock has a market cap of $5.92 billion, a P/E ratio of 15.45, a P/E/G ratio of 3.31 and a beta of 1.33. The business has a fifty day moving average price of $56.46 and a 200 day moving average price of $54.14. Fortune Brands Innovations has a 12 month low of $47.21 and a 12 month high of $90.50. The company has a current ratio of 1.97, a quick ratio of 0.98 and a debt-to-equity ratio of 1.20.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.98 by $0.02. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%.The business's revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. Research analysts predict that Fortune Brands Innovations will post 4.24 EPS for the current year.

Insiders Place Their Bets

In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 1,522 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $58.72, for a total value of $89,371.84. Following the completion of the sale, the chief executive officer directly owned 97,139 shares in the company, valued at $5,704,002.08. This represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fortune Brands Innovations

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in Fortune Brands Innovations by 113.5% during the 1st quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company's stock valued at $373,079,000 after purchasing an additional 3,257,428 shares during the period. Qube Research & Technologies Ltd acquired a new stake in Fortune Brands Innovations during the 2nd quarter valued at $87,611,000. Generation Investment Management LLP acquired a new stake in Fortune Brands Innovations during the 1st quarter valued at $98,157,000. Norges Bank acquired a new stake in Fortune Brands Innovations during the 2nd quarter valued at $78,395,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Fortune Brands Innovations in the second quarter worth $77,441,000. Institutional investors and hedge funds own 87.60% of the company's stock.

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.

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