Fortune Brands Innovations (NYSE:FBIN – Free Report) had its price target decreased by Jefferies Financial Group from $90.00 to $88.00 in a report published on Thursday, FlyOnTheWall reports.
A number of other analysts have also recently commented on FBIN. Truist Financial boosted their target price on shares of Fortune Brands Innovations from $75.00 to $90.00 and gave the company a buy rating in a report on Friday, July 28th. BMO Capital Markets boosted their target price on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the company an outperform rating in a report on Tuesday, August 1st. JPMorgan Chase & Co. initiated coverage on shares of Fortune Brands Innovations in a report on Friday, June 23rd. They set a neutral rating and a $70.00 target price on the stock. Barclays dropped their target price on shares of Fortune Brands Innovations from $89.00 to $74.00 and set an overweight rating on the stock in a report on Thursday. Finally, Royal Bank of Canada boosted their price target on Fortune Brands Innovations from $64.00 to $72.00 and gave the stock a sector perform rating in a research report on Thursday, July 20th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $71.55.
Check Out Our Latest Stock Analysis on Fortune Brands Innovations
Fortune Brands Innovations Stock Performance
Shares of FBIN stock opened at $59.74 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.49 and a debt-to-equity ratio of 1.23. Fortune Brands Innovations has a 52 week low of $49.51 and a 52 week high of $77.14. The stock has a fifty day moving average of $65.69 and a 200 day moving average of $65.50. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 3.08 and a beta of 1.55.
Fortune Brands Innovations (NYSE:FBIN – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.01 by $0.06. Fortune Brands Innovations had a net margin of 9.29% and a return on equity of 25.43%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the business posted $1.67 earnings per share. Fortune Brands Innovations’s quarterly revenue was down 7.3% compared to the same quarter last year. As a group, research analysts expect that Fortune Brands Innovations will post 3.86 earnings per share for the current year.
Fortune Brands Innovations Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Friday, November 24th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Wednesday, November 22nd. Fortune Brands Innovations’s payout ratio is 23.71%.
Hedge Funds Weigh In On Fortune Brands Innovations
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tributary Capital Management LLC lifted its position in Fortune Brands Innovations by 10.3% in the 3rd quarter. Tributary Capital Management LLC now owns 8,497 shares of the company’s stock valued at $528,000 after acquiring an additional 792 shares in the last quarter. AE Wealth Management LLC lifted its position in Fortune Brands Innovations by 72.4% in the 3rd quarter. AE Wealth Management LLC now owns 18,575 shares of the company’s stock valued at $1,155,000 after acquiring an additional 7,802 shares in the last quarter. Franklin Street Advisors Inc. NC lifted its stake in Fortune Brands Innovations by 304.2% during the 3rd quarter. Franklin Street Advisors Inc. NC now owns 21,960 shares of the company’s stock valued at $1,365,000 after acquiring an additional 16,527 shares during the period. Professional Advisory Services Inc. lifted its stake in Fortune Brands Innovations by 6.2% during the 3rd quarter. Professional Advisory Services Inc. now owns 286,964 shares of the company’s stock valued at $17,838,000 after acquiring an additional 16,753 shares during the period. Finally, Sendero Wealth Management LLC lifted its stake in Fortune Brands Innovations by 17.8% during the 3rd quarter. Sendero Wealth Management LLC now owns 8,105 shares of the company’s stock valued at $504,000 after acquiring an additional 1,225 shares during the period. 87.20% of the stock is owned by institutional investors.
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 two segments: Water Innovations; and Outdoors & Security. The Water Innovations segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, and Shaws brands.
Further Reading
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