Fortune Brands Innovations (NYSE:FBIN) Receives Market Perform Rating from BMO Capital Markets

BMO Capital Markets reaffirmed their market perform rating on shares of Fortune Brands Innovations (NYSE:FBINFree Report) in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $82.00 target price on the stock, up from their previous target price of $76.00.

Several other research firms have also issued reports on FBIN. Truist Financial dropped their price objective on shares of Fortune Brands Innovations from $75.00 to $65.00 and set a buy rating for the company in a research report on Thursday, October 26th. Barclays increased their price objective on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an overweight rating in a research report on Wednesday. Oppenheimer started coverage on shares of Fortune Brands Innovations in a report on Friday, January 19th. They set a market perform rating for the company. The Goldman Sachs Group raised their price target on shares of Fortune Brands Innovations from $68.00 to $86.00 and gave the company a buy rating in a report on Thursday, December 14th. Finally, Royal Bank of Canada lowered their price target on shares of Fortune Brands Innovations from $74.00 to $63.00 and set a sector perform rating for the company in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $73.40.

Get Our Latest Analysis on Fortune Brands Innovations

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $77.59 on Wednesday. Fortune Brands Innovations has a one year low of $54.10 and a one year high of $80.91. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.80. The company has a 50 day moving average price of $75.39 and a 200 day moving average price of $68.71. The firm has a market capitalization of $9.78 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 3.49 and a beta of 1.60.

Fortune Brands Innovations (NYSE:FBINGet Free Report) last released its quarterly earnings data on Tuesday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.02. Fortune Brands Innovations had a net margin of 9.42% and a return on equity of 24.05%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the business earned $1.07 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Sell-side analysts anticipate that Fortune Brands Innovations will post 3.88 EPS for the current year.

Fortune Brands Innovations Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 13th. Shareholders of record on Friday, February 23rd will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.24%. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, February 22nd. Fortune Brands Innovations’s dividend payout ratio is 28.40%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FBIN. BlackRock Inc. bought a new position in shares of Fortune Brands Innovations in the 2nd quarter worth about $1,052,123,000. JPMorgan Chase & Co. bought a new position in shares of Fortune Brands Innovations in the 2nd quarter worth about $392,938,000. State Street Corp bought a new position in shares of Fortune Brands Innovations in the 2nd quarter worth about $365,010,000. Holocene Advisors LP bought a new position in shares of Fortune Brands Innovations in the 2nd quarter worth about $193,486,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of Fortune Brands Innovations in the 2nd quarter worth about $142,667,000. 87.20% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Company Profile

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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 two segments: Water Innovations; and Outdoors & Security. The Water Innovations segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, and Shaws brands.

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Analyst Recommendations for Fortune Brands Innovations (NYSE:FBIN)

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