Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives $75.45 Average Price Target from Brokerages

Key Points

• Fortune Brands Innovations, Inc. (NYSE:FBIN) has received a consensus recommendation of "Hold" from eleven brokerages, with an average price target of $75.45.
• Recent insider trading includes CEO Nicholas I. Fink selling 1,522 shares at an average price of $58.72, reducing his direct ownership by 1.54%.
• The company reported a quarterly EPS of $1.00, exceeding analyst expectations, but revenue has declined by 3.0% year-on-year.

Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) has been given an average recommendation of "Hold" by the eleven research firms that are covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $75.4545.

A number of equities research analysts recently weighed in on the company. UBS Group boosted their price objective on Fortune Brands Innovations from $82.00 to $83.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Barclays boosted their price objective on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Wall Street Zen raised Fortune Brands Innovations from a "sell" rating to a "hold" rating in a report on Friday, May 30th. 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. Finally, Royal Bank Of Canada raised Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from $59.00 to $65.00 in a report on Friday, August 1st.

Fortune Brands Innovations Price Performance

Shares of FBIN traded down $1.78 during midday trading on Friday, hitting $55.72. The company's stock had a trading volume of 2,453,874 shares, compared to its average volume of 1,470,590. Fortune Brands Innovations has a one year low of $47.21 and a one year high of $90.54. The company's fifty day simple moving average is $57.31 and its two-hundred day simple moving average is $55.41. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 3.95 and a beta of 1.32.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.02. The business had revenue of $1.20 billion for 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%.Fortune Brands Innovations's quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 22nd were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.00 annualized dividend and a yield of 1.8%. Fortune Brands Innovations's payout ratio is presently 31.45%.

Insider Buying and Selling

In other Fortune Brands Innovations news, CEO Nicholas I. Fink sold 29,792 shares of Fortune Brands Innovations stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $59.04, for a total transaction of $1,758,919.68. Following the transaction, the chief executive officer directly owned 180,625 shares of the company's stock, valued at approximately $10,664,100. The trade was a 14.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FBIN. von Borstel & Associates Inc. acquired a new position in shares of Fortune Brands Innovations in the 1st quarter valued at about $26,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Fortune Brands Innovations in the 2nd quarter valued at about $26,000. EverSource Wealth Advisors LLC lifted its stake in shares of Fortune Brands Innovations by 158.3% in the 2nd 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. National Pension Service lifted its stake in shares of Fortune Brands Innovations by 74.5% in the 1st quarter. National Pension Service now owns 466 shares of the company's stock valued at $28,000 after purchasing an additional 199 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Fortune Brands Innovations by 119.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company's stock valued at $28,000 after purchasing an additional 293 shares during the period. 87.60% of the stock is owned by institutional investors and hedge funds.

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.