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

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

FBIN has been the subject of a number of other research reports. Royal Bank of Canada increased their price target on Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Jefferies Financial Group raised their target price on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Barclays boosted their price target on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. The Goldman Sachs Group raised their price objective on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Loop Capital lowered their price objective on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $88.90.

Fortune Brands Innovations Stock Performance

Shares of FBIN opened at $88.15 on Monday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71. The firm’s 50 day moving average is $82.92 and its 200-day moving average is $75.52. Fortune Brands Innovations has a 12-month low of $54.10 and a 12-month high of $90.54. The stock has a market capitalization of $11.03 billion, a P/E ratio of 26.96, a P/E/G ratio of 2.79 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last posted 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 net margin of 9.39% and a return on equity of 22.93%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the business posted $1.07 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. Equities research analysts anticipate that Fortune Brands Innovations will post 4.29 EPS 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. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 29.36%.

Hedge Funds Weigh In On Fortune Brands Innovations

Hedge funds have recently modified their holdings of the stock. Park Avenue Securities LLC acquired a new stake in Fortune Brands Innovations during the first quarter valued at $235,000. Gateway Investment Advisers LLC grew its position in Fortune Brands Innovations by 198.3% in the first quarter. Gateway Investment Advisers LLC now owns 34,384 shares of the company’s stock worth $2,911,000 after acquiring an additional 22,858 shares in the last quarter. Sound Income Strategies LLC grew its position in Fortune Brands Innovations by 312.3% in the first quarter. Sound Income Strategies LLC now owns 1,443 shares of the company’s stock worth $122,000 after acquiring an additional 1,093 shares in the last quarter. Atlas Capital Advisors LLC raised its holdings in shares of Fortune Brands Innovations by 6.6% during the 1st quarter. Atlas Capital Advisors LLC now owns 4,687 shares of the company’s stock valued at $397,000 after purchasing an additional 291 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Fortune Brands Innovations by 2.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company’s stock valued at $665,000 after purchasing an additional 168 shares in the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

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.