Fortune Brands Innovations (NYSE:FBIN) Raised to "Hold" at Wall Street Zen

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Friday.

A number of other equities research analysts have also recently commented on the company. UBS Group dropped 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. Royal Bank of Canada dropped their target price on Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating on the stock in a research report on Wednesday, May 7th. Barclays dropped their target price on Fortune Brands Innovations from $68.00 to $64.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. 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. Finally, Truist Financial set a $65.00 target price on Fortune Brands Innovations in a research report on Wednesday, May 7th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Fortune Brands Innovations presently has an average rating of "Hold" and an average price target of $77.17.

Fortune Brands Innovations Stock Performance

FBIN traded down $0.67 during midday trading on Friday, hitting $50.42. 11,924,564 shares of the company were exchanged, compared to its average volume of 1,575,533. The company's 50 day simple moving average is $53.48 and its 200 day simple moving average is $64.51. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 2.00 and a beta of 1.49. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. 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 announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share for the quarter, hitting the consensus estimate of $0.66. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.07 billion. Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. The firm's revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period last year, the firm earned $0.83 EPS. As a group, sell-side analysts predict that Fortune Brands Innovations will post 4.24 earnings per share for the current year.

Insider Activity at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Kristin Papesh bought 483 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $61.99 per share, with a total value of $29,941.17. Following the purchase, the executive vice president now directly owns 7,617 shares of the company's stock, valued at $472,177.83. This trade represents a 6.77% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. von Borstel & Associates Inc. purchased a new position in Fortune Brands Innovations in the 1st quarter worth approximately $26,000. National Pension Service lifted its stake in Fortune Brands Innovations by 74.5% in the 1st quarter. National Pension Service now owns 466 shares of the company's stock worth $28,000 after purchasing an additional 199 shares in the last quarter. CX Institutional purchased a new position in Fortune Brands Innovations in the 1st quarter worth approximately $29,000. Flagship Wealth Advisors LLC purchased a new position in Fortune Brands Innovations in the 4th quarter worth approximately $31,000. Finally, Geneos Wealth Management Inc. raised its stake in Fortune Brands Innovations by 83.6% during the first quarter. Geneos Wealth Management Inc. now owns 852 shares of the company's stock worth $52,000 after purchasing an additional 388 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.