Bank of America Cuts Fortune Brands Innovations (NYSE:FBIN) Price Target to $42.00
by Doug Wharley · The Cerbat GemFortune Brands Innovations (NYSE:FBIN – Free Report) had its target price decreased by Bank of America from $52.00 to $42.00 in a report issued on Monday morning,Benzinga reports. Bank of America currently has an underperform rating on the stock.
A number of other analysts also recently issued reports on the stock. Zelman & Associates downgraded shares of Fortune Brands Innovations from an “outperform” rating to a “neutral” rating in a report on Friday, February 13th. Zacks Research cut shares of Fortune Brands Innovations from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. BMO Capital Markets lowered their price objective on shares of Fortune Brands Innovations from $62.00 to $56.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 17th. The Goldman Sachs Group lowered their price objective on shares of Fortune Brands Innovations from $69.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Finally, Wolfe Research set a $64.00 price objective on shares of Fortune Brands Innovations in a research note on Friday, February 13th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $55.42.
Check Out Our Latest Stock Report on FBIN
Fortune Brands Innovations Stock Performance
Shares of NYSE FBIN opened at $40.46 on Monday. The firm’s 50-day moving average price is $44.69 and its 200-day moving average price is $49.81. The company has a quick ratio of 0.89, a current ratio of 1.84 and a debt-to-equity ratio of 1.07. The company has a market cap of $4.85 billion, a PE ratio of 16.38, a PEG ratio of 1.97 and a beta of 1.49. Fortune Brands Innovations has a 52-week low of $36.07 and a 52-week high of $64.84.
Fortune Brands Innovations (NYSE:FBIN – Get Free Report) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.14). The company had revenue of $1.08 billion for 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 business’s revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. Fortune Brands Innovations has set its FY 2026 guidance at 3.350-3.650 EPS. As a group, analysts anticipate that Fortune Brands Innovations will post 3.41 EPS for the current year.
Hedge Funds Weigh In On Fortune Brands Innovations
Institutional investors have recently made changes to their positions in the business. Pictet Asset Management Holding SA raised its stake in Fortune Brands Innovations by 74.0% during the 1st quarter. Pictet Asset Management Holding SA now owns 7,798,078 shares of the company’s stock worth $303,757,000 after acquiring an additional 3,317,232 shares during the period. Orbis Allan Gray Ltd raised its stake in Fortune Brands Innovations by 586.7% during the 4th quarter. Orbis Allan Gray Ltd now owns 7,272,289 shares of the company’s stock worth $363,760,000 after acquiring an additional 6,213,274 shares during the period. Dimensional Fund Advisors LP raised its stake in Fortune Brands Innovations by 16.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,792,715 shares of the company’s stock worth $189,717,000 after acquiring an additional 541,633 shares during the period. Bank of New York Mellon Corp raised its stake in Fortune Brands Innovations by 20.2% during the 4th quarter. Bank of New York Mellon Corp now owns 3,236,159 shares of the company’s stock worth $161,873,000 after acquiring an additional 544,332 shares during the period. Finally, Amundi raised its stake in Fortune Brands Innovations by 15.2% during the 3rd quarter. Amundi now owns 2,879,208 shares of the company’s stock worth $152,263,000 after acquiring an additional 380,275 shares during the period. Institutional investors own 87.60% of the company’s stock.
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.