Brokerages Set Fortune Brands Innovations, Inc. (NYSE:FBIN) Price Target at $83.20

Fortune Brands Innovations, Inc. (NYSE:FBIN) has been given an average rating of “Hold” by the ten ratings firms that are presently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $83.20.

FBIN has been the subject of a number of recent research reports. The Goldman Sachs Group increased their target price on Fortune Brands Innovations from $75.00 to $86.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Truist Financial boosted their target price on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Loop Capital lowered their price target on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a report on Friday, July 12th. Royal Bank of Canada lifted 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. Finally, Barclays upped their price objective on shares of Fortune Brands Innovations from $84.00 to $86.00 and gave the company an “overweight” rating in a research report on Friday, July 26th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Principal Securities Inc. acquired a new stake in shares of Fortune Brands Innovations during the 4th quarter valued at approximately $29,000. Family Firm Inc. acquired a new position in shares of Fortune Brands Innovations in the 2nd quarter valued at about $31,000. LRI Investments LLC bought a new stake in shares of Fortune Brands Innovations during the 1st quarter valued at about $34,000. Brown Brothers Harriman & Co. raised its stake in Fortune Brands Innovations by 526.5% during 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 during the period. Finally, First United Bank & Trust bought a new position in Fortune Brands Innovations in the fourth quarter worth about $38,000. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Trading Up 2.5 %

Shares of FBIN stock opened at $83.16 on Monday. The company has a quick ratio of 0.71, a current ratio of 1.34 and a debt-to-equity ratio of 1.03. Fortune Brands Innovations has a fifty-two week low of $54.10 and a fifty-two week high of $84.92. The firm’s 50 day moving average price is $75.56 and its two-hundred day moving average price is $74.49. The stock has a market cap of $10.40 billion, a price-to-earnings ratio of 25.43, a price-to-earnings-growth ratio of 2.50 and a beta of 1.51.

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

Fortune Brands Innovations Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Friday, August 23rd were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Friday, August 23rd. Fortune Brands Innovations’s dividend payout ratio is currently 29.36%.

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.