Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives $91.36 Consensus Price Target from Analysts

Fortune Brands Innovations, Inc. (NYSE:FBIN) has been assigned an average rating of “Hold” from the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $91.36.

A number of equities analysts have weighed in on FBIN shares. Truist Financial upped their price target on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. BMO Capital Markets increased their target price on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group increased their target price on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays increased their target price on Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, Evercore ISI reduced their target price on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Brooklyn Investment Group bought a new position in shares of Fortune Brands Innovations in the third quarter worth $25,000. LRI Investments LLC bought a new position in Fortune Brands Innovations during the first quarter valued at about $34,000. Family Firm Inc. bought a new position in Fortune Brands Innovations during the second quarter valued at about $31,000. Brown Brothers Harriman & Co. boosted its stake in Fortune Brands Innovations by 526.5% during the second quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock valued at $34,000 after buying an additional 437 shares in the last quarter. Finally, Pathway Financial Advisers LLC bought a new position in Fortune Brands Innovations during the first quarter valued at about $51,000. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Up 5.9 %

NYSE FBIN opened at $80.98 on Friday. The stock has a market cap of $10.06 billion, a PE ratio of 22.81, a P/E/G ratio of 2.45 and a beta of 1.51. Fortune Brands Innovations has a fifty-two week low of $62.54 and a fifty-two week high of $90.54. The business has a 50 day moving average price of $84.23 and a two-hundred day moving average price of $76.55. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. Fortune Brands Innovations’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.19 EPS. As a group, sell-side analysts predict that Fortune Brands Innovations will post 4.19 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 given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio is presently 27.04%.

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.