Fortune Brands Innovations, Inc. (NYSE:FBIN) Stock Has Average Price Target of $54.64

Fortune Brands Innovations, Inc. (NYSE:FBIN) has been assigned a consensus recommendation of “Hold” from the seventeen analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $54.64.

FBIN has been the topic of several research reports. Wells Fargo & Company cut their price objective on shares of Fortune Brands Innovations from $52.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday, September 11th. Evercore set a $45.00 price target on Fortune Brands Innovations in a report on Friday, September 25th. UBS Group upped their price objective on Fortune Brands Innovations from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada lifted their target price on Fortune Brands Innovations from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Finally, Barclays decreased their price target on shares of Fortune Brands Innovations from $56.00 to $54.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 5th.

Fortune Brands Innovations Stock Up 0.5%

Shares of NYSE:FBIN opened at $38.74 on Tuesday. The business’s 50 day moving average is $44.10 and its 200 day moving average is $42.89. The stock has a market cap of $4.62 billion, a P/E ratio of 31.50, a price-to-earnings-growth ratio of 1.71 and a beta of 1.31. Fortune Brands Innovations has a 52-week low of $32.34 and a 52-week high of $64.84. The company has a quick ratio of 1.05, a current ratio of 2.01 and a debt-to-equity ratio of 1.11.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Tuesday, August 4th. The company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.55. Fortune Brands Innovations had a return on equity of 19.50% and a net margin of 3.39%.The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the business earned $1.00 EPS. The business’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. Sell-side analysts predict that Fortune Brands Innovations will post 3.33 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 9th. Investors of record on Friday, November 20th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $1.04 dividend on an annualized basis and a yield of 2.7%. Fortune Brands Innovations’s dividend payout ratio is presently 84.55%.

Insiders Place Their Bets

In other news, CEO Jesse Singh purchased 19,560 shares of the business’s stock in a transaction on Friday, August 7th. The shares were acquired at an average cost of $50.93 per share, with a total value of $996,190.80. Following the completion of the acquisition, the chief executive officer owned 39,285 shares of the company’s stock, valued at $2,000,785.05. This trade represents a 99.16% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fortune Brands Innovations

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Park National Corp OH acquired a new position in Fortune Brands Innovations during the third quarter valued at $201,000. Altar Rock LLC acquired a new position in Fortune Brands Innovations in the 2nd quarter valued at $200,000. Sequoia Financial Advisors LLC purchased a new position in Fortune Brands Innovations in the 2nd quarter worth approximately $1,260,000. Tidal Investments LLC grew its holdings in Fortune Brands Innovations by 42.0% in the 2nd quarter. Tidal Investments LLC now owns 25,805 shares of the company’s stock valued at $1,417,000 after buying an additional 7,638 shares in the last quarter. Finally, Community Bank N.A. increased its position in Fortune Brands Innovations by 59.4% during the second quarter. Community Bank N.A. now owns 765 shares of the company’s stock worth $42,000 after purchasing an additional 285 shares during the last quarter. Hedge funds and other institutional investors 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.