Fortune Brands Innovations (NYSE:FBIN) Price Target Raised to $94.00 at Robert W. Baird

Fortune Brands Innovations (NYSE:FBIN) had its price target boosted by Robert W. Baird from $82.00 to $94.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

FBIN has been the subject of several other reports. Royal Bank of Canada raised 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 report on Friday, July 26th. Barclays raised their price target on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. The Goldman Sachs Group raised their price target on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Loop Capital decreased 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $90.20.

Fortune Brands Innovations Trading Up 1.4 %

NYSE FBIN opened at $87.88 on Monday. The company has a market capitalization of $10.99 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 2.79 and a beta of 1.51. Fortune Brands Innovations has a 12 month low of $54.10 and a 12 month high of $90.54. The company’s fifty day moving average price is $83.74 and its two-hundred day moving average price is $75.69. 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 (NYSE:FBIN) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.28 billion. During the same quarter last year, the company earned $1.07 EPS. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, research analysts predict that Fortune Brands Innovations will post 4.29 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

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 paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s payout ratio is presently 29.36%.

Institutional Investors Weigh In On Fortune Brands Innovations

Several hedge funds have recently made changes to their positions in the stock. Summit Place Financial Advisors LLC raised its position in Fortune Brands Innovations by 3.2% in the third quarter. Summit Place Financial Advisors LLC now owns 36,700 shares of the company’s stock worth $3,286,000 after purchasing an additional 1,140 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Fortune Brands Innovations by 5.4% during the third quarter. State of Alaska Department of Revenue now owns 14,419 shares of the company’s stock worth $1,290,000 after buying an additional 740 shares in the last quarter. Carret Asset Management LLC acquired a new stake in shares of Fortune Brands Innovations during the third quarter worth approximately $254,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Fortune Brands Innovations by 17.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 10,229 shares of the company’s stock worth $916,000 after buying an additional 1,531 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Fortune Brands Innovations by 492.2% during the third quarter. Allworth Financial LP now owns 4,643 shares of the company’s stock worth $416,000 after buying an additional 3,859 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

About Fortune Brands Innovations

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.