Jefferies Financial Group Boosts Fortune Brands Innovations (NYSE:FBIN) Price Target to $111.00

Fortune Brands Innovations (NYSE:FBIN) had its price objective hoisted by investment analysts at Jefferies Financial Group from $100.00 to $111.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 27.15% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Truist Financial lifted their price objective on Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Loop Capital decreased their price objective on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a research note on Friday, July 12th. Barclays lifted their price objective on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Royal Bank of Canada lifted their price objective on Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $88.10.

Fortune Brands Innovations Stock Down 1.2 %

NYSE FBIN opened at $87.30 on Wednesday. The stock has a fifty day moving average of $81.08 and a 200-day moving average of $75.36. The stock has a market capitalization of $10.92 billion, a P/E ratio of 26.70, a price-to-earnings-growth ratio of 2.74 and a beta of 1.51. Fortune Brands Innovations has a 52 week low of $54.10 and a 52 week high of $90.54. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Thursday, July 25th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.12 by $0.04. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the firm earned $1.07 EPS. On average, equities research analysts forecast that Fortune Brands Innovations will post 4.29 EPS for the current year.

Institutional Trading of Fortune Brands Innovations

A number of institutional investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Fortune Brands Innovations by 8.9% in the first quarter. GAMMA Investing LLC now owns 1,640 shares of the company’s stock valued at $139,000 after purchasing an additional 134 shares in the last quarter. Choreo LLC raised its holdings in Fortune Brands Innovations by 2.9% during the first quarter. Choreo LLC now owns 5,701 shares of the company’s stock worth $483,000 after acquiring an additional 163 shares in the last quarter. Wedmont Private Capital raised its holdings in Fortune Brands Innovations by 2.9% during the third quarter. Wedmont Private Capital now owns 5,786 shares of the company’s stock worth $502,000 after acquiring an additional 164 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Fortune Brands Innovations by 2.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company’s stock worth $665,000 after acquiring an additional 168 shares in the last quarter. Finally, Summit Trail Advisors LLC raised its holdings in Fortune Brands Innovations by 2.4% during the second quarter. Summit Trail Advisors LLC now owns 7,297 shares of the company’s stock worth $474,000 after acquiring an additional 169 shares in the last quarter. 87.60% of the stock is currently owned by 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.