Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives $76.60 Consensus Target Price from Brokerages

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%.

Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) has earned a consensus rating of "Moderate Buy" from the ten analysts that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $77.40.

FBIN has been the topic of several recent research reports. Barclays increased their price target on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an "overweight" rating in a report on Friday. Robert W. Baird cut their price target on Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. UBS Group increased their price target on Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a "buy" rating in a report on Friday. Royal Bank Of Canada upgraded Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from $59.00 to $65.00 in a report on Friday. Finally, Truist Financial set a $65.00 price target on Fortune Brands Innovations in a report on Wednesday, May 7th.

Fortune Brands Innovations Trading Up 2.4%

NYSE FBIN traded up $1.29 during trading hours on Thursday, hitting $55.83. 2,927,671 shares of the company's stock were exchanged, compared to its average volume of 2,030,677. The stock has a 50-day simple moving average of $52.46 and a 200 day simple moving average of $58.20. Fortune Brands Innovations has a 1-year low of $47.21 and a 1-year high of $90.54. The firm has a market cap of $6.71 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 3.23 and a beta of 1.36. The company has a current ratio of 1.41, a quick ratio of 0.72 and a debt-to-equity ratio of 1.06.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.98 by $0.02. Fortune Brands Innovations had a return on equity of 20.96% and a net margin of 9.42%. The business had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter last year, the firm posted $1.16 earnings per share. The firm's revenue was down 3.0% on a year-over-year basis. On average, equities analysts forecast that Fortune Brands Innovations will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, August 22nd. Fortune Brands Innovations's dividend payout ratio (DPR) is 29.33%.

Institutional Trading of Fortune Brands Innovations

A number of hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in Fortune Brands Innovations by 113.5% during the first quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company's stock worth $373,079,000 after acquiring an additional 3,257,428 shares during the period. JPMorgan Chase & Co. lifted its holdings in Fortune Brands Innovations by 9.2% during the first quarter. JPMorgan Chase & Co. now owns 4,855,425 shares of the company's stock worth $295,598,000 after acquiring an additional 409,466 shares during the period. Amundi lifted its holdings in Fortune Brands Innovations by 24.1% during the first quarter. Amundi now owns 2,861,900 shares of the company's stock worth $169,975,000 after acquiring an additional 555,036 shares during the period. Dimensional Fund Advisors LP lifted its holdings in 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 period. Finally, Fiduciary Management Inc. WI lifted its holdings 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 worth $139,528,000 after acquiring an additional 260,218 shares during the period. 87.60% of the stock is currently 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.