Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives $91.36 Consensus Target Price from Analysts

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have received an average recommendation of “Hold” from the twelve research firms that are covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $89.36.

Several equities analysts recently commented on the company. Barclays dropped their price objective on Fortune Brands Innovations from $100.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday. Jefferies Financial Group lifted their price objective on Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. UBS Group lowered their price objective on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Evercore ISI cut their target price on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Finally, Robert W. Baird lowered their price target on shares of Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FBIN. Teca Partners LP grew its position in Fortune Brands Innovations by 165.0% during the second quarter. Teca Partners LP now owns 233,229 shares of the company’s stock worth $15,146,000 after buying an additional 145,229 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Fortune Brands Innovations by 50.2% during the third quarter. Handelsbanken Fonder AB now owns 34,100 shares of the company’s stock worth $3,053,000 after purchasing an additional 11,400 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Fortune Brands Innovations in the second quarter worth approximately $20,857,000. Diamond Hill Capital Management Inc. raised its stake in Fortune Brands Innovations by 48.6% in the second quarter. Diamond Hill Capital Management Inc. now owns 401,378 shares of the company’s stock valued at $26,065,000 after purchasing an additional 131,342 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Fortune Brands Innovations by 30.7% in the second quarter. Envestnet Asset Management Inc. now owns 36,582 shares of the company’s stock valued at $2,376,000 after purchasing an additional 8,590 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Up 0.4 %

Shares of Fortune Brands Innovations stock opened at $74.55 on Friday. The firm has a market cap of $9.26 billion, a PE ratio of 21.00, a P/E/G ratio of 2.05 and a beta of 1.49. Fortune Brands Innovations has a 1 year low of $62.54 and a 1 year high of $90.54. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. The stock has a fifty day moving average price of $73.89 and a 200-day moving average price of $77.56.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.15 by $0.01. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the firm posted $1.19 earnings per share. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. Equities research analysts anticipate that Fortune Brands Innovations will post 4.19 EPS for the current year.

Fortune Brands Innovations Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.34%. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, February 21st. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 27.04%.

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.