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

Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) has been assigned a consensus rating of "Hold" from the ten brokerages that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $79.22.

Several equities research analysts have recently commented on the stock. Robert W. Baird boosted their target price on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 1st. Evercore ISI dropped their target price on Fortune Brands Innovations from $79.00 to $78.00 and set an "in-line" rating on the stock in a report on Wednesday, May 1st. Barclays upped their price target on Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an "overweight" rating in a report on Wednesday, January 31st. BMO Capital Markets restated a "market perform" rating and set a $82.00 price objective (up from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st. Finally, Oppenheimer began coverage on shares of Fortune Brands Innovations in a research note on Friday, January 19th. They issued a "market perform" rating for the company.

Fortune Brands Innovations Stock Down 1.2 %

NYSE:FBIN traded down $0.92 on Tuesday, hitting $72.84. The stock had a trading volume of 1,021,166 shares, compared to its average volume of 1,085,136. The company has a market cap of $9.11 billion, a PE ratio of 22.27, a P/E/G ratio of 2.02 and a beta of 1.58. Fortune Brands Innovations has a 52 week low of $54.10 and a 52 week high of $84.92. The business's fifty day moving average is $78.88 and its 200 day moving average is $74.62. The company has a quick ratio of 1.08, a current ratio of 2.04 and a debt-to-equity ratio of 1.33.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. Fortune Brands Innovations had a net margin of 8.87% and a return on equity of 22.88%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm posted $0.69 EPS. Fortune Brands Innovations's revenue was up 6.7% compared to the same quarter last year. On average, equities research analysts expect that Fortune Brands Innovations will post 4.29 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Ronald V. Waters sold 2,000 shares of Fortune Brands Innovations stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $81.10, for a total value of $162,200.00. Following the sale, the director now owns 2,435 shares of the company's stock, valued at approximately $197,478.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.99% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fortune Brands Innovations

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FBIN. Choreo LLC bought a new position in shares of Fortune Brands Innovations in the fourth quarter worth $422,000. Arvest Investments Inc. bought a new stake in shares of Fortune Brands Innovations during the fourth quarter valued at about $1,561,000. Louisiana State Employees Retirement System bought a new position in shares of Fortune Brands Innovations in the fourth quarter valued at approximately $2,695,000. Walleye Trading LLC boosted its position in shares of Fortune Brands Innovations by 72.4% in the third quarter. Walleye Trading LLC now owns 30,323 shares of the company's stock valued at $1,885,000 after acquiring an additional 12,738 shares during the period. Finally, Jump Financial LLC purchased a new position in Fortune Brands Innovations during the third quarter valued at approximately $596,000. 87.60% of the stock is currently owned by 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.