Fortune Brands Innovations (NYSE:FBIN - Get Free Report) had its price target lifted by Barclays from $67.00 to $68.00 in a report released on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's price objective indicates a potential upside of 22.67% from the stock's current price.
FBIN has been the topic of several other reports. Wall Street Zen raised Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. UBS Group dropped their target price on Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Robert W. Baird dropped their target price on 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. Royal Bank Of Canada raised Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and set a $65.00 price target on the stock 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. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $77.30.
Get Our Latest Analysis on FBIN
Fortune Brands Innovations Price Performance
Shares of NYSE FBIN opened at $55.43 on Friday. Fortune Brands Innovations has a 1-year low of $47.21 and a 1-year high of $90.54. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.41 and a quick ratio of 0.72. The business's fifty day moving average price is $52.46 and its two-hundred day moving average price is $58.20. The firm has a market capitalization of $6.67 billion, a PE ratio of 16.44, a P/E/G ratio of 3.23 and a beta of 1.36.
Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $1.00 earnings per share 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 firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company earned $1.16 earnings per share. The firm's revenue for the quarter was down 3.0% on a year-over-year basis. On average, research analysts expect that Fortune Brands Innovations will post 4.24 EPS for the current year.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Man Group plc bought a new position in Fortune Brands Innovations during the fourth quarter valued at about $344,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in Fortune Brands Innovations by 8.0% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 271,928 shares of the company's stock valued at $16,555,000 after buying an additional 20,206 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Fortune Brands Innovations in the 1st quarter valued at $1,106,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Fortune Brands Innovations by 15.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,537 shares of the company's stock valued at $763,000 after purchasing an additional 1,660 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Fortune Brands Innovations by 6,418.5% in the 1st quarter. GAMMA Investing LLC now owns 109,706 shares of the company's stock valued at $6,679,000 after purchasing an additional 108,023 shares during the period. 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.
Further Reading
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