UBS Group Issues Pessimistic Forecast for Fortune Brands Innovations (NYSE:FBIN) Stock Price

Fortune Brands Innovations (NYSE:FBIN) had its target price decreased by stock analysts at UBS Group from $93.00 to $90.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price points to a potential upside of 33.23% from the company’s current price.

FBIN has been the subject of a number of other reports. Robert W. Baird decreased their price target on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Barclays decreased their target price on shares of Fortune Brands Innovations from $100.00 to $91.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Truist Financial upped their price objective on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. BMO Capital Markets raised their price objective on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Finally, Evercore ISI reduced their price objective on shares of 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. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $88.73.

Fortune Brands Innovations Trading Down 2.2 %

Shares of Fortune Brands Innovations stock traded down $1.51 during trading on Friday, reaching $67.55. 1,406,829 shares of the company were exchanged, compared to its average volume of 1,420,115. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 18.94, a P/E/G ratio of 2.09 and a beta of 1.50. The business has a 50-day moving average price of $72.52 and a 200-day moving average price of $78.03. 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 has a twelve month low of $62.54 and a twelve month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. Sell-side analysts anticipate that Fortune Brands Innovations will post 4.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Fortune Brands Innovations

Several institutional investors have recently modified their holdings of FBIN. Amundi raised its stake in shares of Fortune Brands Innovations by 166.8% during the 4th quarter. Amundi now owns 2,306,864 shares of the company’s stock worth $157,953,000 after buying an additional 1,442,195 shares during the last quarter. Andra AP fonden grew its position in Fortune Brands Innovations by 113.6% during the fourth quarter. Andra AP fonden now owns 84,600 shares of the company’s stock valued at $5,781,000 after acquiring an additional 45,000 shares during the period. Inceptionr LLC acquired a new stake in Fortune Brands Innovations during the 4th quarter worth approximately $1,500,000. Raymond James Financial Inc. purchased a new stake in shares of Fortune Brands Innovations during the 4th quarter valued at about $40,027,000. Finally, Arizona State Retirement System boosted its stake in Fortune Brands Innovations by 0.6% during the 4th quarter. Arizona State Retirement System now owns 36,048 shares of the company’s stock valued at $2,463,000 after acquiring an additional 213 shares during the last quarter. 87.60% of the stock is owned by hedge funds and other 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.