Barclays Increases Fortune Brands Innovations (NYSE:FBIN) Price Target to $100.00

Fortune Brands Innovations (NYSE:FBIN) had its price target boosted by investment analysts at Barclays from $86.00 to $100.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 14.55% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Truist Financial increased their price target on Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Loop Capital decreased their price target on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a research note on Friday, July 12th. The Goldman Sachs Group increased their price target on Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada raised their target price on Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Fortune Brands Innovations has an average rating of “Hold” and an average price target of $88.10.

Fortune Brands Innovations Price Performance

Shares of FBIN opened at $87.30 on Wednesday. The company has a market cap of $10.92 billion, a P/E ratio of 26.70, a PEG ratio of 2.74 and a beta of 1.51. The stock has a fifty day moving average price of $81.08 and a 200 day moving average price of $75.36. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71. Fortune Brands Innovations has a 12 month low of $54.10 and a 12 month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.16 earnings per share (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 company 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 posted $1.07 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, research analysts forecast that Fortune Brands Innovations will post 4.29 earnings per share for the current year.

Institutional Investors Weigh In On Fortune Brands Innovations

Several hedge funds have recently modified their holdings of FBIN. Garner Asset Management Corp purchased a new stake in shares of Fortune Brands Innovations during the fourth quarter valued at $397,000. Point72 Hong Kong Ltd purchased a new stake in shares of Fortune Brands Innovations during the fourth quarter valued at $6,330,000. V Square Quantitative Management LLC lifted its holdings in shares of Fortune Brands Innovations by 45.4% during the fourth quarter. V Square Quantitative Management LLC now owns 1,669 shares of the company’s stock valued at $127,000 after purchasing an additional 521 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new stake in shares of Fortune Brands Innovations during the fourth quarter valued at $265,000. Finally, Virtu Financial LLC purchased a new stake in shares of Fortune Brands Innovations during the fourth quarter valued at $1,346,000. 87.60% of the stock is owned by hedge funds and other institutional investors.

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.