Fortune Brands Innovations (NYSE:FBIN) Given New $61.00 Price Target at The Goldman Sachs Group

Fortune Brands Innovations (NYSE:FBIN) had its price target dropped by analysts at The Goldman Sachs Group from $69.00 to $61.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 17.89% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. UBS Group restated a “buy” rating and set a $70.00 price target on shares of Fortune Brands Innovations in a research report on Friday. Evercore reissued an “outperform” rating on shares of Fortune Brands Innovations in a research report on Friday, October 31st. Zelman & Associates cut shares of Fortune Brands Innovations from an “outperform” rating to a “neutral” rating in a report on Friday. Barclays downgraded Fortune Brands Innovations from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $68.00 to $55.00 in a research note on Friday. Finally, Vertical Research assumed coverage on Fortune Brands Innovations in a research note on Tuesday, October 21st. They issued a “hold” rating and a $52.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $60.00.

Fortune Brands Innovations Stock Up 0.8%

Shares of FBIN traded up $0.42 during trading hours on Tuesday, reaching $51.74. 2,456,756 shares of the stock traded hands, compared to its average volume of 2,587,134. Fortune Brands Innovations has a 52 week low of $44.04 and a 52 week high of $69.32. The company has a market cap of $6.22 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 4.99 and a beta of 1.41. The stock has a fifty day simple moving average of $55.31 and a 200 day simple moving average of $54.13. The company has a current ratio of 1.84, a quick ratio of 0.89 and a debt-to-equity ratio of 1.07.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.14). The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Fortune Brands Innovations had a net margin of 6.70% and a return on equity of 18.54%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the business posted $0.98 EPS. Fortune Brands Innovations has set its FY 2026 guidance at 3.350-3.650 EPS. On average, equities analysts forecast that Fortune Brands Innovations will post 4.24 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. First Trust Advisors LP raised its stake in shares of Fortune Brands Innovations by 9.1% during the second quarter. First Trust Advisors LP now owns 1,165,342 shares of the company’s stock worth $59,992,000 after acquiring an additional 97,662 shares in the last quarter. CX Institutional boosted its position in Fortune Brands Innovations by 22,269.6% during the third quarter. CX Institutional now owns 108,269 shares of the company’s stock valued at $5,780,000 after buying an additional 107,785 shares during the period. Keeler Thomas Management LLC bought a new position in shares of Fortune Brands Innovations during the second quarter valued at about $920,000. Caxton Associates LLP purchased a new position in shares of Fortune Brands Innovations in the second quarter worth about $2,717,000. Finally, Federated Hermes Inc. boosted its holdings in Fortune Brands Innovations by 56.0% during the 3rd quarter. Federated Hermes Inc. now owns 1,317,373 shares of the company’s stock valued at $70,335,000 after acquiring an additional 473,031 shares during the period. 87.60% of the stock is currently owned by institutional investors.

Fortune Brands Innovations Company Profile

Fortune Brands Innovations (NYSE: FBIN), formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.