Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives Average Rating of “Hold” from Analysts

by · The Markets Daily

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN – Get Free Report) have earned an average rating of “Hold” from the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $84.40.

A number of research firms have weighed in on FBIN. Barclays lifted their price objective on shares of Fortune Brands Innovations from $84.00 to $86.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Royal Bank of Canada raised their price objective on Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Truist Financial lifted their price target on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Loop Capital dropped their target price on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. upped their price target on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th.

Get Our Latest Report on FBIN

Fortune Brands Innovations Price Performance

Shares of FBIN opened at $87.14 on Friday. The business’s 50-day moving average is $80.76 and its two-hundred day moving average is $75.19. The company has a market capitalization of $10.90 billion, a P/E ratio of 26.65, a P/E/G ratio of 2.74 and a beta of 1.51. Fortune Brands Innovations has a fifty-two week low of $54.10 and a fifty-two week high of $90.54. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34.

Fortune Brands Innovations (NYSE:FBIN – Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.04. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. Fortune Brands Innovations’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the business earned $1.07 earnings per share. Research analysts predict that Fortune Brands Innovations will post 4.29 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.10%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s payout ratio is currently 29.36%.

Institutional Trading of Fortune Brands Innovations

Several hedge funds have recently made changes to their positions in the company. Family Firm Inc. acquired a new position in Fortune Brands Innovations in the second quarter valued at approximately $31,000. LRI Investments LLC acquired a new position in shares of Fortune Brands Innovations in the 1st quarter valued at $34,000. Brown Brothers Harriman & Co. grew its holdings in shares of Fortune Brands Innovations by 526.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock worth $34,000 after purchasing an additional 437 shares during the period. Rise Advisors LLC acquired a new stake in shares of Fortune Brands Innovations during the 1st quarter worth about $38,000. Finally, Optimum Investment Advisors acquired a new position in Fortune Brands Innovations in the first quarter valued at about $42,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.

About Fortune Brands Innovations

(Get Free Report

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.

Recommended Stories