Analysts Set Fortune Brands Innovations, Inc. (NYSE:FBIN) PT at $75.91

Key Points

• Fortune Brands Innovations, Inc. has received a consensus recommendation of "Moderate Buy" from eleven brokerages, with a target price averaging $75.91.
• The company recently reported quarterly earnings with an EPS of $1.00, exceeding estimates, despite a 3.0% year-over-year decline in revenue.
• Fortune Brands Innovations announced a quarterly dividend of $0.25 per share, reflecting an annual yield of 1.6%.

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) have earned an average rating of "Hold" from the eleven brokerages that are covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $75.4545.

FBIN has been the topic of several recent research reports. Robert W. Baird decreased their target price on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Truist Financial restated a "hold" rating and set a $60.00 target price (down from $65.00) on shares of Fortune Brands Innovations in a research report on Wednesday. Barclays upped their price target on shares of Fortune Brands Innovations from $67.00 to $68.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Loop Capital reiterated a "hold" rating and set a $61.00 price target (up from $53.00) on shares of Fortune Brands Innovations in a report on Monday, August 4th.

Insider Buying and Selling

In related news, CEO Nicholas I. Fink sold 29,792 shares of the company's stock in a transaction dated Friday, August 15th. The shares were 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 in the company, valued at approximately $10,664,100. This represents a 14.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Fortune Brands Innovations

Hedge funds have recently added to or reduced their stakes in the company. Townsquare Capital LLC grew its stake in Fortune Brands Innovations by 3.3% in the 1st quarter. Townsquare Capital LLC now owns 6,236 shares of the company's stock worth $380,000 after acquiring an additional 197 shares in the last quarter. National Pension Service grew its stake in Fortune Brands Innovations by 74.5% in the 1st quarter. National Pension Service now owns 466 shares of the company's stock worth $28,000 after acquiring an additional 199 shares in the last quarter. Raleigh Capital Management Inc. grew its stake in Fortune Brands Innovations by 20.8% in the 2nd quarter. Raleigh Capital Management Inc. now owns 1,229 shares of the company's stock worth $63,000 after acquiring an additional 212 shares in the last quarter. Baker Ellis Asset Management LLC boosted its stake in shares of Fortune Brands Innovations by 0.4% during the first quarter. Baker Ellis Asset Management LLC now owns 61,602 shares of the company's stock valued at $3,750,000 after purchasing an additional 219 shares in the last quarter. Finally, HB Wealth Management LLC boosted its stake in shares of Fortune Brands Innovations by 6.2% during the first quarter. HB Wealth Management LLC now owns 4,220 shares of the company's stock valued at $257,000 after purchasing an additional 247 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Price Performance

Shares of NYSE FBIN traded down $0.38 during mid-day trading on Monday, hitting $58.56. 835,146 shares of the company's stock traded hands, compared to its average volume of 1,749,075. The company's 50-day moving average is $55.59 and its two-hundred day moving average is $56.20. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.97 and a quick ratio of 0.98. The company has a market capitalization of $7.03 billion, a P/E ratio of 18.41, a PEG ratio of 4.05 and a beta of 1.32. Fortune Brands Innovations has a 1 year low of $47.21 and a 1 year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.02. The firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.19 billion. Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. 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 EPS. Fortune Brands Innovations has set its FY 2025 guidance at 3.750-3.950 EPS. On average, equities analysts anticipate that Fortune Brands Innovations will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company 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 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, August 22nd. Fortune Brands Innovations's dividend payout ratio is presently 31.45%.

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.