Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives $86.64 Consensus PT from Analysts

Fortune Brands Innovations, Inc. (NYSE:FBIN) has received a consensus recommendation of “Hold” from the eleven research firms that are presently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $86.64.

A number of analysts have recently commented on FBIN shares. Barclays cut their price target on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Royal Bank of Canada decreased their price objective on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. The Goldman Sachs Group lowered their price target on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, UBS Group dropped their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, February 7th.

Insiders Place Their Bets

In other Fortune Brands Innovations news, EVP Kristin Papesh purchased 483 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $61.99 per share, with a total value of $29,941.17. Following the completion of the transaction, the executive vice president now owns 7,617 shares in the company, valued at $472,177.83. The trade was a 6.77 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ron Wilson sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the transaction, the executive vice president now directly owns 10,066 shares in the company, valued at $693,950.04. This represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its position in shares of Fortune Brands Innovations by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 864,833 shares of the company’s stock valued at $59,094,000 after buying an additional 11,722 shares in the last quarter. Trust Point Inc. bought a new position in Fortune Brands Innovations in the fourth quarter valued at about $319,000. Raymond James Financial Inc. acquired a new stake in shares of Fortune Brands Innovations in the 4th quarter valued at approximately $40,027,000. SG Americas Securities LLC increased its position in Fortune Brands Innovations by 812.5% during the 4th quarter. SG Americas Securities LLC now owns 33,543 shares of the company’s stock worth $2,292,000 after purchasing an additional 29,867 shares in the last quarter. Finally, M&T Bank Corp boosted its position in Fortune Brands Innovations by 41.9% in the fourth quarter. M&T Bank Corp now owns 23,591 shares of the company’s stock valued at $1,612,000 after buying an additional 6,971 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

FBIN stock opened at $60.84 on Friday. The firm has a market cap of $7.46 billion, a PE ratio of 16.22, a P/E/G ratio of 2.00 and a beta of 1.53. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The business’s 50-day moving average price is $66.71 and its two-hundred day moving average price is $74.97. Fortune Brands Innovations has a 1-year low of $59.64 and a 1-year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.05%. As a group, research analysts forecast that Fortune Brands Innovations will post 4.24 earnings per share for the current year.

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.