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

Fortune Brands Innovations (NYSE:FBIN - Free Report) had its price target increased by Barclays from $64.00 to $67.00 in a research report released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

FBIN has been the topic of several other reports. UBS Group cut 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. Truist Financial set a $65.00 target price on Fortune Brands Innovations in a research report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Fortune Brands Innovations in a research report on Tuesday, April 1st. They issued a "hold" rating and a $70.00 target price on the stock. Robert W. Baird cut 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. Finally, Wall Street Zen raised Fortune Brands Innovations from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Fortune Brands Innovations has a consensus rating of "Hold" and a consensus price target of $77.27.

Fortune Brands Innovations Stock Up 0.1%

NYSE:FBIN traded up $0.06 during trading hours on Tuesday, reaching $52.63. The company's stock had a trading volume of 1,058,675 shares, compared to its average volume of 1,629,741. The company has a market capitalization of $6.33 billion, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 2.90 and a beta of 1.36. Fortune Brands Innovations has a 12 month low of $47.21 and a 12 month high of $90.54. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.72 and a current ratio of 1.41. The stock has a 50 day moving average price of $52.17 and a two-hundred day moving average price of $59.23.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.66 EPS for the quarter, hitting analysts' consensus estimates of $0.66. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.83 earnings per share. Equities analysts predict that Fortune Brands Innovations will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Tuesday, May 27th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Tuesday, May 27th. Fortune Brands Innovations's payout ratio is currently 29.33%.

Institutional Investors Weigh In On Fortune Brands Innovations

Hedge funds have recently modified their holdings of the company. von Borstel & Associates Inc. purchased a new stake in shares of Fortune Brands Innovations during the 1st quarter worth about $26,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Fortune Brands Innovations during the 4th quarter worth about $31,000. National Pension Service boosted its stake in shares of Fortune Brands Innovations by 74.5% during 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. CX Institutional purchased a new stake in shares of Fortune Brands Innovations during the 1st quarter worth about $29,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Fortune Brands Innovations by 119.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company's stock worth $28,000 after acquiring an additional 293 shares in the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

About Fortune Brands Innovations

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.