Fortune Brands Innovations (NYSE:FBIN) Given New $84.00 Price Target at JPMorgan Chase & Co.

Fortune Brands Innovations (NYSE:FBIN) had its price target upped by analysts at JPMorgan Chase & Co. from $82.00 to $84.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 5.41% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Robert W. Baird raised their price objective on Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Royal Bank of Canada increased their price target on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a research report on Friday. Loop Capital lowered their price objective on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a report on Friday, July 12th. Truist Financial upped their price objective on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Friday. Finally, Barclays lifted their target price on shares of Fortune Brands Innovations from $84.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $83.20.

Fortune Brands Innovations Trading Up 1.2 %

Shares of Fortune Brands Innovations stock opened at $79.69 on Tuesday. The company has a 50 day simple moving average of $68.37 and a two-hundred day simple moving average of $74.79. The firm has a market cap of $9.97 billion, a PE ratio of 24.37, a PEG ratio of 2.60 and a beta of 1.52. Fortune Brands Innovations has a 1 year low of $54.10 and a 1 year high of $84.92. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.04. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.28 billion. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 22.93%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.07 EPS. Analysts expect that Fortune Brands Innovations will post 4.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fortune Brands Innovations

Hedge funds and other institutional investors have recently modified their holdings of the company. Choreo LLC purchased a new position in Fortune Brands Innovations during the 4th quarter valued at about $422,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Fortune Brands Innovations by 24.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,137 shares of the company’s stock worth $4,607,000 after buying an additional 12,217 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its stake in shares of Fortune Brands Innovations by 383.5% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 39,596 shares of the company’s stock valued at $3,015,000 after buying an additional 31,406 shares during the period. Schroder Investment Management Group raised its holdings in shares of Fortune Brands Innovations by 3.6% during the fourth quarter. Schroder Investment Management Group now owns 620,402 shares of the company’s stock valued at $47,237,000 after acquiring an additional 21,517 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in Fortune Brands Innovations by 9.0% in the fourth quarter. Allianz Asset Management GmbH now owns 841,545 shares of the company’s stock worth $64,075,000 after acquiring an additional 69,502 shares during the period. 87.60% of the stock is owned by institutional investors.

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.