Fortune Brands Innovations (NYSE:FBIN) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Equities research analysts at Deutsche Bank Aktiengesellschaft initiated coverage on shares of Fortune Brands Innovations (NYSE:FBIN) in a report released on Tuesday. The firm set a “hold” rating and a $70.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 16.10% from the stock’s current price.

A number of other equities analysts have also commented on FBIN. Royal Bank of Canada decreased their price target on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Barclays cut their price objective on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, February 7th. UBS Group dropped their target price on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Finally, The Goldman Sachs Group reduced their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $85.25.

Fortune Brands Innovations Price Performance

Shares of FBIN traded down $0.59 during mid-day trading on Tuesday, reaching $60.29. 25,104 shares of the stock traded hands, compared to its average volume of 1,296,207. 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 $59.58 and a 1 year high of $90.54. The company has a market cap of $7.39 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. The firm has a fifty day moving average price of $66.43 and a 200 day moving average price of $74.83.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. As a group, equities research analysts predict that Fortune Brands Innovations will post 4.24 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Kristin Papesh bought 483 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average cost of $61.99 per share, with a total value of $29,941.17. Following the acquisition, the executive vice president now owns 7,617 shares in the company, valued at $472,177.83. This trade represents a 6.77 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ron Wilson sold 1,500 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.94, for a total value of $103,410.00. Following the sale, the executive vice president now directly owns 10,066 shares of the company’s stock, valued at $693,950.04. This represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Fortune Brands Innovations

Several large investors have recently added to or reduced their stakes in FBIN. Flagship Wealth Advisors LLC purchased a new stake in shares of Fortune Brands Innovations in the fourth quarter worth $31,000. Wingate Wealth Advisors Inc. purchased a new stake in Fortune Brands Innovations in the 4th quarter worth $55,000. IFP Advisors Inc raised its holdings in Fortune Brands Innovations by 47.6% during the fourth quarter. IFP Advisors Inc now owns 853 shares of the company’s stock valued at $62,000 after acquiring an additional 275 shares during the period. Siemens Fonds Invest GmbH purchased a new position in shares of Fortune Brands Innovations in the fourth quarter valued at about $76,000. Finally, New Age Alpha Advisors LLC bought a new position in shares of Fortune Brands Innovations in the fourth quarter worth about $82,000. Hedge funds and other institutional investors 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.