Analysts Set Fortune Brands Innovations, Inc. (NYSE:FBIN) Target Price at $76.60

Key Points

• Fortune Brands Innovations, Inc. (NYSE:FBIN) has received an average rating of "Moderate Buy" from analysts, with five hold ratings and five buy ratings issued.
• The company reported a first-quarter EPS of $0.66, matching the consensus estimate, but revenue decreased by 6.9% year-over-year to $1.03 billion.
• Fortune Brands Innovations has announced a quarterly dividend of $0.25 per share, reflecting an annualized dividend yield of 1.83%.

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) have been assigned an average rating of "Moderate Buy" from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $77.40.

A number of research analysts recently commented on FBIN shares. Robert W. Baird reduced their target price on Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Barclays raised their price target on Fortune Brands Innovations from $67.00 to $68.00 and gave the company an "overweight" rating in a report on Friday. UBS Group increased their target price on Fortune Brands Innovations from $82.00 to $83.00 and gave the company a "buy" rating in a report on Friday. Wall Street Zen upgraded Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Royal Bank Of Canada raised shares of Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and upped their price target for the company from $59.00 to $65.00 in a research report on Friday.

Fortune Brands Innovations Stock Up 2.4%

FBIN traded up $1.29 during trading on Thursday, hitting $55.83. 2,927,671 shares of the company's stock were exchanged, compared to its average volume of 1,879,814. Fortune Brands Innovations has a fifty-two week low of $47.21 and a fifty-two week high of $90.54. The company has a quick ratio of 0.72, a current ratio of 1.41 and a debt-to-equity ratio of 1.06. The stock has a market cap of $6.71 billion, a P/E ratio of 17.56, a PEG ratio of 3.31 and a beta of 1.32. The business's 50 day moving average is $52.57 and its two-hundred day moving average is $57.97.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.02. Fortune Brands Innovations had a return on equity of 19.78% and a net margin of 8.75%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the firm posted $1.16 EPS. The firm's revenue for the quarter was down 3.0% on a year-over-year basis. As a group, equities analysts expect that Fortune Brands Innovations will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, August 22nd. Fortune Brands Innovations's payout ratio is presently 31.45%.

Hedge Funds Weigh In On Fortune Brands Innovations

A number of hedge funds have recently made changes to their positions in FBIN. Wellington Management Group LLP lifted its holdings in Fortune Brands Innovations by 113.5% in the 1st quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company's stock worth $373,079,000 after purchasing an additional 3,257,428 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Fortune Brands Innovations by 9.2% during the first quarter. JPMorgan Chase & Co. now owns 4,855,425 shares of the company's stock valued at $295,598,000 after buying an additional 409,466 shares during the last quarter. Amundi lifted its holdings in shares of Fortune Brands Innovations by 24.1% in the first quarter. Amundi now owns 2,861,900 shares of the company's stock worth $169,975,000 after buying an additional 555,036 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Fortune Brands Innovations by 22.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,351,110 shares of the company's stock worth $143,130,000 after acquiring an additional 426,929 shares during the last quarter. Finally, Fiduciary Management Inc. WI grew its stake in Fortune Brands Innovations by 12.8% during the first quarter. Fiduciary Management Inc. WI now owns 2,291,860 shares of the company's stock valued at $139,528,000 after acquiring an additional 260,218 shares in the last quarter. Institutional investors 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.