Fortune Brands Innovations (NYSE:FBIN) Price Target Raised to $100.00 at Barclays

Fortune Brands Innovations (NYSE:FBIN) had its price objective upped by Barclays from $86.00 to $100.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also recently issued reports on FBIN. Loop Capital cut their price objective on Fortune Brands Innovations from $82.00 to $79.00 and set a hold rating for the company in a research report on Friday, July 12th. The Goldman Sachs Group upped their target price on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a buy rating in a report on Tuesday. Truist Financial upped their target price on Fortune Brands Innovations from $75.00 to $82.00 and gave the company a buy rating in a report on Friday, July 26th. JPMorgan Chase & Co. upped their target price on Fortune Brands Innovations from $82.00 to $84.00 and gave the company a neutral rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada upped their target price on Fortune Brands Innovations from $79.00 to $81.00 and gave the company a sector perform rating in a report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $88.10.

Fortune Brands Innovations Trading Up 1.3 %

NYSE:FBIN opened at $88.32 on Wednesday. The stock has a fifty day moving average price of $80.91 and a two-hundred day moving average price of $75.28. The stock has a market capitalization of $11.05 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 2.74 and a beta of 1.51. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34. Fortune Brands Innovations has a 1 year low of $54.10 and a 1 year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data 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. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. Fortune Brands Innovations’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.07 earnings per share. As a group, sell-side analysts anticipate that Fortune Brands Innovations will post 4.29 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s payout ratio is 29.36%.

Institutional Trading of Fortune Brands Innovations

Hedge funds have recently added to or reduced their stakes in the business. Select Equity Group L.P. raised its holdings in shares of Fortune Brands Innovations by 48.8% in the 2nd quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company’s stock worth $410,866,000 after purchasing an additional 2,075,673 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in shares of Fortune Brands Innovations by 12,402.4% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 337,565 shares of the company’s stock worth $21,921,000 after purchasing an additional 334,865 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Fortune Brands Innovations during the 2nd quarter valued at about $20,857,000. Robeco Schweiz AG raised its holdings in shares of Fortune Brands Innovations by 26.5% during the 2nd quarter. Robeco Schweiz AG now owns 906,572 shares of the company’s stock valued at $58,873,000 after buying an additional 189,635 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of Fortune Brands Innovations by 71.0% during the 2nd quarter. AQR Capital Management LLC now owns 415,255 shares of the company’s stock valued at $26,967,000 after buying an additional 172,435 shares during the period. 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.