UBS Group Issues Positive Forecast for Fortune Brands Innovations (NYSE:FBIN) Stock Price

Key Points

• UBS Group has raised its price target for Fortune Brands Innovations from $82.00 to $83.00, indicating a potential upside of 49.79% from the stock's previous close.
• Barclays also increased their target to $68.00 while Royal Bank of Canada upgraded their rating to "outperform" with a target of $65.00, reflecting growing analyst confidence in the stock.
• Fortune Brands Innovations reported earnings of $1.00 EPS, surpassing expectations, although their quarterly revenue decreased 3% compared to the same quarter last year.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) had its price objective upped by analysts at UBS Group from $82.00 to $83.00 in a report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. UBS Group's target price suggests a potential upside of 49.79% from the stock's previous close.

A number of other analysts also recently issued reports on FBIN. Barclays lifted their price target on Fortune Brands Innovations from $67.00 to $68.00 and gave the company an "overweight" rating in a research report on Friday. Robert W. Baird decreased their price target on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. 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. Truist Financial set a $65.00 price target on Fortune Brands Innovations in a research report on Wednesday, May 7th. Finally, Royal Bank Of Canada upgraded Fortune Brands Innovations from a "sector perform" rating to an "outperform" rating and increased their price objective for the company from $59.00 to $65.00 in a research report on Friday. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $77.40.

Fortune Brands Innovations Trading Up 1.6%

Shares of FBIN stock traded up $0.87 on Friday, hitting $55.41. The company had a trading volume of 997,488 shares, compared to its average volume of 2,016,797. 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's 50-day moving average is $52.46 and its two-hundred day moving average is $58.20. The firm has a market cap of $6.66 billion, a P/E ratio of 16.21, a P/E/G ratio of 3.23 and a beta of 1.36. Fortune Brands Innovations has a twelve month low of $47.21 and a twelve month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly 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. Fortune Brands Innovations had a net margin of 9.42% and a return on equity of 20.96%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the business posted $1.16 EPS. Fortune Brands Innovations's quarterly revenue was down 3.0% compared to the same quarter last year. On average, equities research analysts anticipate that Fortune Brands Innovations will post 4.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FBIN. von Borstel & Associates Inc. acquired a new stake in Fortune Brands Innovations in the first quarter worth about $26,000. National Pension Service increased its holdings in shares of Fortune Brands Innovations by 74.5% in the first 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 period. CX Institutional acquired a new stake in shares of Fortune Brands Innovations during the first quarter worth about $29,000. 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. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Fortune Brands Innovations in the second quarter worth $37,000. 87.60% of the stock is currently 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.

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