Barclays Raises Fortune Brands Innovations (NYSE:FBIN) Price Target to $67.00

Fortune Brands Innovations (NYSE:FBIN - Free Report) had its target price upped by Barclays from $64.00 to $67.00 in a research note issued to investors on Tuesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

FBIN has been the subject of several other research reports. 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortune Brands Innovations in a research report on Tuesday, April 1st. They set a "hold" rating and a $70.00 price objective for the company. Robert W. Baird reduced 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 research report on Wednesday, May 7th. Royal Bank Of Canada reduced their price objective on shares of Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating for the company in a research report on Wednesday, May 7th. Finally, UBS Group reduced their price objective on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $77.27.

Fortune Brands Innovations Price Performance

Fortune Brands Innovations stock traded down $0.59 during trading hours on Tuesday, hitting $53.37. 1,498,189 shares of the company traded hands, compared to its average volume of 1,626,827. The firm has a market cap of $6.42 billion, a P/E ratio of 15.65, a P/E/G ratio of 2.98 and a beta of 1.36. The company has a quick ratio of 0.72, a current ratio of 1.41 and a debt-to-equity ratio of 1.06. The firm's 50-day simple moving average is $52.27 and its two-hundred day simple moving average is $59.03. 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 released its earnings results on Tuesday, May 6th. The company reported $0.66 EPS for the quarter, meeting the consensus estimate of $0.66. The firm had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $1.07 billion. Fortune Brands Innovations had a net margin of 9.42% and a return on equity of 20.96%. Fortune Brands Innovations's quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter last year, the company earned $0.83 EPS. As a group, analysts forecast that Fortune Brands Innovations will post 4.24 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Friday, August 22nd. Fortune Brands Innovations's dividend payout ratio (DPR) is currently 29.33%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Man Group plc purchased a new position in shares of Fortune Brands Innovations in the fourth quarter worth approximately $344,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Fortune Brands Innovations by 8.0% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 271,928 shares of the company's stock worth $16,555,000 after acquiring an additional 20,206 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Fortune Brands Innovations in the first quarter worth approximately $1,106,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Fortune Brands Innovations by 15.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,537 shares of the company's stock worth $763,000 after purchasing an additional 1,660 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Fortune Brands Innovations by 6,418.5% during the first quarter. GAMMA Investing LLC now owns 109,706 shares of the company's stock worth $6,679,000 after purchasing an additional 108,023 shares during the period. 87.60% of the stock is owned by hedge funds and other institutional investors.

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.