Barclays Increases Fortune Brands Innovations (NYSE:FBIN) Price Target to $86.00

Fortune Brands Innovations (NYSE:FBIN) had its target price hoisted by analysts at Barclays from $84.00 to $86.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 8.75% from the stock’s current price.

FBIN has been the subject of a number of other reports. Truist Financial upped their target price on Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Friday. Robert W. Baird boosted their target price on Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Loop Capital lowered their price objective on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. The Goldman Sachs Group lifted their price objective on Fortune Brands Innovations from $75.00 to $86.00 and gave the company a “buy” rating in a report on Friday. Finally, Evercore ISI cut their price objective on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating for the company in a research report on Wednesday, May 1st. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $83.11.

Fortune Brands Innovations Stock Up 9.6 %

Shares of Fortune Brands Innovations stock traded up $6.91 on Friday, reaching $79.08. 1,201,857 shares of the company were exchanged, compared to its average volume of 1,205,021. Fortune Brands Innovations has a 1-year low of $54.10 and a 1-year high of $84.92. The stock’s 50 day moving average price is $68.11 and its 200-day moving average price is $74.81. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.04 and a quick ratio of 1.08. The company has a market cap of $9.89 billion, a P/E ratio of 24.18, a price-to-earnings-growth ratio of 1.92 and a beta of 1.52.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Thursday, July 25th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.04. Fortune Brands Innovations had a return on equity of 22.88% and a net margin of 8.87%. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the business earned $1.07 earnings per share. The firm’s revenue was up 6.6% compared to the same quarter last year. As a group, equities analysts forecast that Fortune Brands Innovations will post 4.26 EPS for the current year.

Institutional Trading of Fortune Brands Innovations

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in Fortune Brands Innovations by 8.9% in the 1st quarter. GAMMA Investing LLC now owns 1,640 shares of the company’s stock valued at $139,000 after buying an additional 134 shares during the period. Apollon Wealth Management LLC raised its stake in Fortune Brands Innovations by 2.2% during the fourth quarter. Apollon Wealth Management LLC now owns 6,867 shares of the company’s stock worth $523,000 after purchasing an additional 149 shares during the period. Addison Advisors LLC boosted its holdings in shares of Fortune Brands Innovations by 38.7% in the 4th quarter. Addison Advisors LLC now owns 563 shares of the company’s stock valued at $43,000 after purchasing an additional 157 shares during the last quarter. Choreo LLC grew its stake in shares of Fortune Brands Innovations by 2.9% during the 1st quarter. Choreo LLC now owns 5,701 shares of the company’s stock valued at $483,000 after buying an additional 163 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Fortune Brands Innovations by 2.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company’s stock worth $665,000 after buying an additional 168 shares during 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.