Fortune Brands Innovations (NYSE:FBIN) PT Raised to $111.00

Fortune Brands Innovations (NYSE:FBIN) had its price target lifted by analysts at Jefferies Financial Group from $100.00 to $111.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective indicates a potential upside of 27.15% from the company’s current price.

A number of other research analysts have also commented on the company. Barclays increased their price objective on Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday. Loop Capital lowered their price objective on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a report on Friday, July 12th. The Goldman Sachs Group increased their price objective on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a report on Tuesday. Royal Bank of Canada increased their price objective 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. Finally, Truist Financial increased their price objective on Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a report on Friday, July 26th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $88.10.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $87.30 on Wednesday. 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 has a fifty-two week low of $54.10 and a fifty-two week high of $90.54. The stock’s 50-day moving average is $81.08 and its two-hundred day moving average is $75.36. The firm has a market cap of $10.92 billion, a P/E ratio of 26.70, a PEG ratio of 2.74 and a beta of 1.51.

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

Institutional Trading of Fortune Brands Innovations

Hedge funds have recently modified their holdings of the company. Select Equity Group L.P. lifted its position in shares of Fortune Brands Innovations by 48.8% during the 2nd quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company’s stock worth $410,866,000 after buying an additional 2,075,673 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Fortune Brands Innovations by 10.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,840,067 shares of the company’s stock worth $119,501,000 after buying an additional 167,758 shares during the period. Nordea Investment Management AB lifted its position in shares of Fortune Brands Innovations by 6.8% during the 1st quarter. Nordea Investment Management AB now owns 1,480,177 shares of the company’s stock worth $125,386,000 after buying an additional 94,022 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Fortune Brands Innovations by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,378,297 shares of the company’s stock worth $89,507,000 after buying an additional 24,139 shares during the period. Finally, Robeco Schweiz AG lifted its position 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 worth $58,873,000 after buying an additional 189,635 shares during the period. Institutional investors own 87.60% of the company’s stock.

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.