Fortune Brands Innovations (NYSE:FBIN) Price Target Cut to $85.00

Fortune Brands Innovations (NYSE:FBIN) had its target price decreased by Robert W. Baird from $86.00 to $85.00 in a report issued on Thursday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets restated a market perform rating and set a $82.00 price target (up from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st. Oppenheimer started coverage on shares of Fortune Brands Innovations in a research report on Friday, January 19th. They set a market perform rating for the company. Finally, Barclays increased their price target on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an overweight rating in a research report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $78.44.

Fortune Brands Innovations Stock Down 1.1 %

FBIN opened at $73.58 on Thursday. The stock has a market capitalization of $9.25 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 2.12 and a beta of 1.57. The firm has a 50 day moving average price of $80.44 and a 200-day moving average price of $73.33. Fortune Brands Innovations has a twelve month low of $54.10 and a twelve month high of $84.92. The company has a quick ratio of 0.89, a current ratio of 1.70 and a debt-to-equity ratio of 1.16.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Tuesday, January 30th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. Fortune Brands Innovations had a net margin of 8.74% and a return on equity of 22.61%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.07 EPS. Equities research analysts forecast that Fortune Brands Innovations will post 4.27 earnings per share for the current year.

Insider Buying and Selling at Fortune Brands Innovations

In other news, Director Ronald V. Waters sold 2,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $81.10, for a total value of $162,200.00. Following the transaction, the director now directly owns 2,435 shares in the company, valued at $197,478.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Tobam grew its holdings in shares of Fortune Brands Innovations by 1,181.5% in the fourth quarter. Tobam now owns 346 shares of the company’s stock valued at $26,000 after purchasing an additional 319 shares in the last quarter. Sound Income Strategies LLC purchased a new position in shares of Fortune Brands Innovations in the 4th quarter worth $27,000. Principal Securities Inc. purchased a new position in shares of Fortune Brands Innovations in the 4th quarter worth $29,000. Operose Advisors LLC bought a new stake in shares of Fortune Brands Innovations in the 3rd quarter worth about $31,000. Finally, BluePath Capital Management LLC purchased a new stake in shares of Fortune Brands Innovations during the 3rd quarter valued at about $32,000. Hedge funds and other 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.