Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives Average Rating of "Hold" from Analysts

Key Points

• Analyst sentiment on Fortune Brands Innovations is cautious, with a consensus rating of “Hold” from 16 brokerages. The average 12-month price target is about $51.31, while recent firms mostly trimmed targets or maintained neutral views.
• Insider buying stood out as Director Edward P. Garden purchased 320,067 shares at $40.60 each, a stake increase of 8.84%. Over the past three months, insiders have bought 786,367 shares worth about $28.65 million.
• The company’s latest quarter was in line with expectations, reporting EPS of $0.53 and revenue of $1.01 billion, both matching estimates. Revenue fell 2.1% year over year, and the stock also offers a quarterly dividend yielding about 2.5% annually.

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) have received a consensus recommendation of "Hold" from the sixteen brokerages that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $51.3077.

A number of brokerages recently weighed in on FBIN. Weiss Ratings lowered shares of Fortune Brands Innovations from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday. Barclays lowered their price target on shares of Fortune Brands Innovations from $43.00 to $41.00 and set an "equal weight" rating for the company in a report on Monday, May 11th. Truist Financial lowered their price target on shares of Fortune Brands Innovations from $55.00 to $45.00 and set a "hold" rating for the company in a report on Friday, May 8th. UBS Group lowered their price target on shares of Fortune Brands Innovations from $67.00 to $63.00 and set a "buy" rating for the company in a report on Friday, May 8th. Finally, Robert W. Baird set a $44.00 price target on shares of Fortune Brands Innovations in a report on Friday, May 8th.

Insider Buying and Selling

In other Fortune Brands Innovations news, Director Edward P. Garden bought 320,067 shares of the stock in a transaction on Wednesday, June 10th. The stock was purchased at an average price of $40.60 per share, with a total value of $12,994,720.20. Following the acquisition, the director owned 3,940,234 shares of the company's stock, valued at approximately $159,973,500.40. The trade was a 8.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have acquired 786,367 shares of company stock worth $28,653,958. 3.32% of the stock is currently owned by insiders.

Institutional Trading of Fortune Brands Innovations

Institutional investors have recently bought and sold shares of the business. Danske Bank A S acquired a new stake in Fortune Brands Innovations during the 4th quarter worth $25,000. EverSource Wealth Advisors LLC grew its holdings in Fortune Brands Innovations by 158.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company's stock worth $27,000 after acquiring an additional 323 shares during the period. Cary Street Partners Investment Advisory LLC grew its holdings in Fortune Brands Innovations by 1,275.0% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 550 shares of the company's stock worth $28,000 after acquiring an additional 510 shares during the period. V Square Quantitative Management LLC acquired a new stake in Fortune Brands Innovations during the 4th quarter worth $28,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in Fortune Brands Innovations during the 3rd quarter worth $31,000. Institutional investors and hedge funds own 87.60% of the company's stock.

Fortune Brands Innovations Stock Performance

Shares of Fortune Brands Innovations stock opened at $42.44 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.13 and a quick ratio of 1.04. The firm has a market cap of $5.06 billion, a P/E ratio of 18.86, a P/E/G ratio of 2.74 and a beta of 1.37. The firm has a 50 day simple moving average of $39.38 and a 200 day simple moving average of $46.91. Fortune Brands Innovations has a fifty-two week low of $32.34 and a fifty-two week high of $64.84.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.53 earnings per share for the quarter, meeting analysts' consensus estimates of $0.53. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. Fortune Brands Innovations had a net margin of 6.12% and a return on equity of 17.72%. Fortune Brands Innovations's revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 earnings per share. Sell-side analysts predict that Fortune Brands Innovations will post 3.13 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Friday, May 22nd. Fortune Brands Innovations's payout ratio is currently 46.22%.

Fortune Brands Innovations Company Profile

Fortune Brands Innovations NYSE: FBIN, formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.

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