Fortune Brands Innovations (NYSE:FBIN) Given New $49.00 Price Target at Royal Bank Of Canada

Fortune Brands Innovations (NYSE:FBIN) had its price objective cut by equities research analysts at Royal Bank Of Canada from $57.00 to $49.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 29.61% from the company’s previous close.

A number of other brokerages have also recently commented on FBIN. Weiss Ratings upgraded shares of Fortune Brands Innovations from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. Melius Research started coverage on Fortune Brands Innovations in a report on Tuesday. They issued a “hold” rating and a $44.00 target price for the company. Barclays cut their target price on Fortune Brands Innovations from $54.00 to $47.00 and set an “equal weight” rating for the company in a research report on Tuesday. UBS Group boosted their price target on Fortune Brands Innovations from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, DA Davidson initiated coverage on Fortune Brands Innovations in a research report on Monday, August 24th. They issued a “buy” rating and a $64.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $52.93.

Fortune Brands Innovations Stock Performance

Fortune Brands Innovations stock traded down $1.54 on Wednesday, hitting $37.80. The company’s stock had a trading volume of 123,822 shares, compared to its average volume of 2,651,498. The firm has a market cap of $4.51 billion, a P/E ratio of 30.77, a price-to-earnings-growth ratio of 1.71 and a beta of 1.31. The company has a quick ratio of 1.05, a current ratio of 2.01 and a debt-to-equity ratio of 1.11. The company has a fifty day moving average price of $43.87 and a 200-day moving average price of $42.88. Fortune Brands Innovations has a one year low of $32.34 and a one year high of $64.84.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.55. Fortune Brands Innovations had a net margin of 3.39% and a return on equity of 19.50%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm earned $1.00 EPS. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. On average, equities analysts anticipate that Fortune Brands Innovations will post 3.33 earnings per share for the current year.

Insider Activity

In other Fortune Brands Innovations news, CEO Jesse Singh bought 19,725 shares of Fortune Brands Innovations stock in a transaction dated Thursday, August 6th. The shares were acquired at an average cost of $51.66 per share, with a total value of $1,018,993.50. Following the acquisition, the chief executive officer directly owned 19,725 shares of the company’s stock, valued at $1,018,993.50. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On Fortune Brands Innovations

A number of institutional investors and hedge funds have recently bought and sold shares of FBIN. Park National Corp OH bought a new stake in shares of Fortune Brands Innovations during the third quarter worth $201,000. Altar Rock LLC bought a new position in shares of Fortune Brands Innovations in the second quarter valued at about $200,000. Sequoia Financial Advisors LLC acquired a new position in Fortune Brands Innovations during the 2nd quarter worth about $1,260,000. Tidal Investments LLC lifted its position in Fortune Brands Innovations by 42.0% during the 2nd quarter. Tidal Investments LLC now owns 25,805 shares of the company’s stock worth $1,417,000 after buying an additional 7,638 shares in the last quarter. Finally, Community Bank N.A. grew its holdings in Fortune Brands Innovations by 59.4% during the 2nd quarter. Community Bank N.A. now owns 765 shares of the company’s stock worth $42,000 after acquiring an additional 285 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

About Fortune Brands Innovations

Fortune Brands Innovations, Inc is a manufacturer and marketer of products used in residential construction, renovation and outdoor living. The company operates a portfolio of brands focused on water, doors, outdoor living and home security products.

Its water-related products include faucets, showers and other plumbing fixtures marketed under brands such as Moen, House of Rohl, ROHL, Perrin & Rowe and Aqualisa. Its doors and outdoor living businesses offer entry doors, storm and screen doors, decking, railing, fencing and related building products through brands including Therma-Tru, Larson, Fiberon and Fypon.