Fortune Brands Innovations (NYSE:FBIN - Free Report) had its price target increased by Barclays from $67.00 to $68.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an overweight rating on the stock.
Other equities analysts also recently issued research reports about the stock. Robert W. Baird decreased their price objective on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Truist Financial set a $65.00 target price on Fortune Brands Innovations in a research note on Wednesday, May 7th. Wall Street Zen upgraded Fortune Brands Innovations from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Royal Bank Of Canada upgraded Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $59.00 to $65.00 in a report on Friday. Finally, UBS Group dropped their price objective on Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $75.91.
Check Out Our Latest Report on FBIN
Fortune Brands Innovations Stock Up 1.1%
Shares of FBIN stock traded up $0.63 during trading on Friday, reaching $56.90. The company's stock had a trading volume of 1,339,883 shares, compared to its average volume of 2,023,325. Fortune Brands Innovations has a 1-year low of $47.21 and a 1-year high of $90.54. The stock's 50-day moving average price is $52.69 and its 200 day moving average price is $57.73. 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 $6.84 billion, a price-to-earnings ratio of 17.89, a P/E/G ratio of 3.28 and a beta of 1.32.
Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.02. Fortune Brands Innovations had a net margin of 8.75% and a return on equity of 19.85%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the firm posted $1.16 EPS. The business's revenue was down 3.0% compared to the same quarter last year. On average, research analysts anticipate that Fortune Brands Innovations will post 4.24 EPS for the current year.
Fortune Brands Innovations Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 dividend yield of 1.8%. The ex-dividend date is Friday, August 22nd. Fortune Brands Innovations's payout ratio is currently 31.45%.
Institutional Trading of Fortune Brands Innovations
A number of large investors have recently modified their holdings of the stock. Geneva Capital Management LLC boosted its stake in shares of Fortune Brands Innovations by 2.9% during the second quarter. Geneva Capital Management LLC now owns 66,975 shares of the company's stock worth $3,448,000 after buying an additional 1,896 shares during the period. Hantz Financial Services Inc. grew its stake in shares of Fortune Brands Innovations by 289.2% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,374 shares of the company's stock valued at $71,000 after buying an additional 1,021 shares during the period. First Pacific Advisors LP boosted its position in Fortune Brands Innovations by 152.2% during the 2nd quarter. First Pacific Advisors LP now owns 1,998,397 shares of the company's stock worth $102,877,000 after purchasing an additional 1,205,880 shares during the period. Teacher Retirement System of Texas lifted its holdings in Fortune Brands Innovations by 63.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 29,593 shares of the company's stock worth $1,523,000 after buying an additional 11,433 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Fortune Brands Innovations in the 2nd quarter valued at about $6,758,000. Hedge funds and other institutional investors own 87.60% of the company's stock.
Fortune Brands Innovations Company Profile
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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.
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