Fortune Brands Innovations (NYSE:FBIN) Given New $100.00 Price Target at Barclays

Fortune Brands Innovations (NYSE:FBIN) had its price target upped by Barclays from $86.00 to $100.00 in a research note published on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

FBIN has been the subject of a number of other reports. The Goldman Sachs Group increased their target price on Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a buy rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. raised their target price on Fortune Brands Innovations from $82.00 to $84.00 and gave the company a neutral rating in a report on Tuesday, July 30th. Royal Bank of Canada upped their price target on shares of 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. Truist Financial raised their price objective on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the company a buy rating in a research note on Friday, July 26th. Finally, Loop Capital lowered their target price 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. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fortune Brands Innovations currently has an average rating of Hold and a consensus target price of $88.10.

Fortune Brands Innovations Stock Up 0.8 %

FBIN opened at $87.98 on Wednesday. Fortune Brands Innovations has a 52 week low of $54.10 and a 52 week high of $90.54. The business has a 50 day moving average price of $81.31 and a two-hundred day moving average price of $75.36. The company has a quick ratio of 0.71, a current ratio of 1.34 and a debt-to-equity ratio of 1.03. The company has a market cap of $11.00 billion, a PE ratio of 26.91, a P/E/G ratio of 2.79 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.12 by $0.04. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the business earned $1.07 earnings per share. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, research analysts anticipate that Fortune Brands Innovations will post 4.29 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a yield of 1.09%. Fortune Brands Innovations’s payout ratio is 29.36%.

Hedge Funds Weigh In On Fortune Brands Innovations

Hedge funds have recently made changes to their positions in the stock. LRI Investments LLC acquired a new position in shares of Fortune Brands Innovations in the 1st quarter valued at about $34,000. Rise Advisors LLC purchased a new position in Fortune Brands Innovations in the first quarter valued at approximately $38,000. Family Firm Inc. acquired a new position in Fortune Brands Innovations during the second quarter valued at approximately $31,000. Optimum Investment Advisors purchased a new stake in Fortune Brands Innovations during the first quarter worth approximately $42,000. Finally, Brown Brothers Harriman & Co. increased its position in shares of Fortune Brands Innovations by 526.5% in the second quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock worth $34,000 after acquiring an additional 437 shares in the last quarter. 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.