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

Fortune Brands Innovations (NYSE:FBIN) had its price target cut by equities researchers at UBS Group from $98.00 to $97.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target indicates a potential upside of 22.71% from the stock’s current price.

FBIN has been the subject of a number of other reports. Barclays lifted their price objective on Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Truist Financial lifted their price target on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday. Royal Bank of Canada boosted their target price on Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. BMO Capital Markets boosted their price target on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Finally, Robert W. Baird boosted their price target on Fortune Brands Innovations from $82.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Fortune Brands Innovations has an average rating of “Hold” and a consensus target price of $91.36.

Fortune Brands Innovations Trading Down 0.1 %

FBIN stock traded down $0.07 during midday trading on Thursday, hitting $79.05. 1,499,190 shares of the company’s stock were exchanged, compared to its average volume of 1,005,199. The business has a 50-day simple moving average of $84.99 and a two-hundred day simple moving average of $76.32. The company has a current ratio of 1.34, a quick ratio of 0.71 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $9.81 billion, a PE ratio of 22.27, a P/E/G ratio of 2.66 and a beta of 1.51. Fortune Brands Innovations has a 1-year low of $59.72 and a 1-year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.01. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.44% and a net margin of 9.61%. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.19 earnings per share. On average, sell-side analysts predict that Fortune Brands Innovations will post 4.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Fortune Brands Innovations

Large investors have recently bought and sold shares of the stock. Van ECK Associates Corp grew its holdings in Fortune Brands Innovations by 1,074.0% during the 2nd quarter. Van ECK Associates Corp now owns 37,367 shares of the company’s stock valued at $2,426,000 after buying an additional 34,184 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Fortune Brands Innovations by 17.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 60,353 shares of the company’s stock worth $5,052,000 after purchasing an additional 8,836 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of Fortune Brands Innovations during the first quarter worth $624,000. Qsemble Capital Management LP boosted its holdings in shares of Fortune Brands Innovations by 1,091.8% during the second quarter. Qsemble Capital Management LP now owns 28,459 shares of the company’s stock worth $1,848,000 after purchasing an additional 26,071 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in shares of Fortune Brands Innovations during the second quarter worth $421,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

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.