Robert W. Baird Lowers Fortune Brands Innovations (NYSE:FBIN) Price Target to $85.00

Fortune Brands Innovations (NYSE:FBIN) had its target price decreased by equities researchers at Robert W. Baird from $86.00 to $85.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 15.63% from the stock’s current price.

FBIN has been the subject of a number of other research reports. Barclays lifted their price objective on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Oppenheimer began coverage on shares of Fortune Brands Innovations in a research report on Friday, January 19th. They issued a “market perform” rating for the company. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $82.00 price objective (up previously from $76.00) on shares of Fortune Brands Innovations in a research report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $78.44.

Fortune Brands Innovations Stock Down 0.1 %

Shares of FBIN stock opened at $73.51 on Thursday. The company has a current ratio of 1.70, a quick ratio of 0.89 and a debt-to-equity ratio of 1.16. Fortune Brands Innovations has a 1 year low of $54.10 and a 1 year high of $84.92. The firm’s fifty day moving average price is $80.31 and its two-hundred day moving average price is $73.41. The firm has a market capitalization of $9.24 billion, a P/E ratio of 23.19, a PEG ratio of 2.12 and a beta of 1.57.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Tuesday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.02. Fortune Brands Innovations had a net margin of 8.74% and a return on equity of 22.61%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the business earned $1.07 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. On average, equities analysts predict that Fortune Brands Innovations will post 4.27 EPS for the current fiscal year.

Insider Buying and Selling

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $81.10, for a total value of $162,200.00. Following the completion of the sale, the director now owns 2,435 shares of the company’s stock, valued at approximately $197,478.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is currently owned by insiders.

Institutional Trading of Fortune Brands Innovations

Institutional investors have recently bought and sold shares of the business. Arvest Investments Inc. bought a new stake in Fortune Brands Innovations in the 4th quarter valued at about $1,561,000. Louisiana State Employees Retirement System acquired a new position in shares of Fortune Brands Innovations in the 4th quarter valued at approximately $2,695,000. Walleye Trading LLC raised its position in shares of Fortune Brands Innovations by 72.4% in the 3rd quarter. Walleye Trading LLC now owns 30,323 shares of the company’s stock valued at $1,885,000 after buying an additional 12,738 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Fortune Brands Innovations in the 3rd quarter valued at approximately $596,000. Finally, Achmea Investment Management B.V. raised its position in shares of Fortune Brands Innovations by 148.0% in the 3rd quarter. Achmea Investment Management B.V. now owns 130,914 shares of the company’s stock valued at $8,138,000 after buying an additional 78,135 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

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.