Fortune Brands Innovations (NYSE:FBIN - Get Free Report) had its price objective upped by UBS Group from $82.00 to $83.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. UBS Group's price target indicates a potential upside of 46.57% from the company's current price.
A number of other equities analysts have also recently issued reports on FBIN. Royal Bank Of Canada upgraded Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from $59.00 to $65.00 in a report on Friday. 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. Barclays raised their target price on Fortune Brands Innovations from $67.00 to $68.00 and gave the stock an "overweight" rating in a report on Friday. Wall Street Zen raised Fortune Brands Innovations from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Finally, Truist Financial set a $65.00 target price on Fortune Brands Innovations in a research note on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Fortune Brands Innovations has an average rating of "Moderate Buy" and an average price target of $75.91.
Check Out Our Latest Research Report on FBIN
Fortune Brands Innovations Stock Up 0.6%
Shares of NYSE:FBIN traded up $0.36 on Friday, hitting $56.63. 299,857 shares of the company traded hands, compared to its average volume of 2,018,585. Fortune Brands Innovations has a 52 week low of $47.21 and a 52 week high of $90.54. The stock has a 50 day simple moving average of $52.69 and a 200-day simple moving average of $57.73. The company has a market cap of $6.81 billion, a PE ratio of 17.81, a PEG ratio of 3.28 and a beta of 1.32. The company has a quick ratio of 0.98, a current ratio of 1.97 and a debt-to-equity ratio of 1.20.
Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. The business had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.19 billion. Fortune Brands Innovations had a return on equity of 19.85% and a net margin of 8.75%. The business's revenue for the quarter was down 3.0% on a year-over-year basis. During the same period last year, the firm posted $1.16 earnings per share. As a group, research analysts expect that Fortune Brands Innovations will post 4.24 earnings per share for the current year.
Institutional Investors Weigh In On Fortune Brands Innovations
Institutional investors have recently modified their holdings of the company. von Borstel & Associates Inc. purchased a new position in Fortune Brands Innovations during the first quarter valued at approximately $26,000. National Pension Service grew its position in Fortune Brands Innovations by 74.5% during the 1st quarter. National Pension Service now owns 466 shares of the company's stock valued at $28,000 after purchasing an additional 199 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Fortune Brands Innovations by 119.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company's stock valued at $28,000 after acquiring an additional 293 shares during the period. CX Institutional bought a new position in Fortune Brands Innovations during the 1st quarter valued at about $29,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Fortune Brands Innovations in the 2nd quarter worth approximately $37,000. 87.60% of the stock is owned by institutional investors.
Fortune Brands Innovations Company Profile
(
Get Free Report)
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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