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

Fortune Brands Innovations, Inc. (NYSE:FBIN) has been given a consensus rating of “Hold” by the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $84.33.

A number of equities research analysts have recently weighed in on FBIN shares. The Goldman Sachs Group reduced their price objective on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft began coverage on Fortune Brands Innovations in a report on Tuesday, April 1st. They set a “hold” rating and a $70.00 price target for the company. UBS Group dropped their price objective on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Barclays cut their price target on shares of Fortune Brands Innovations from $79.00 to $68.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada decreased their target price on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th.

Fortune Brands Innovations Price Performance

Shares of NYSE FBIN opened at $53.58 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 2.00 and a beta of 1.42. The stock’s 50-day moving average is $58.90 and its two-hundred day moving average is $70.01. Fortune Brands Innovations has a 1-year low of $47.21 and a 1-year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. Analysts forecast that Fortune Brands Innovations will post 4.24 EPS for the current fiscal year.

Insider Activity at Fortune Brands Innovations

In related news, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the transaction, the executive vice president now owns 10,066 shares of the company’s stock, valued at $693,950.04. This represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kristin Papesh bought 483 shares of Fortune Brands Innovations stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $61.99 per share, with a total value of $29,941.17. Following the acquisition, the executive vice president now owns 7,617 shares of the company’s stock, valued at $472,177.83. This trade represents a 6.77 % increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fortune Brands Innovations

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. U.S. Capital Wealth Advisors LLC grew its position in Fortune Brands Innovations by 1.7% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company’s stock worth $556,000 after buying an additional 138 shares during the period. Atria Wealth Solutions Inc. boosted its stake in shares of Fortune Brands Innovations by 5.0% during the 4th quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock worth $222,000 after acquiring an additional 156 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Fortune Brands Innovations by 11.2% in the 4th quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock worth $115,000 after acquiring an additional 170 shares during the period. Capital Investment Advisors LLC grew its holdings in shares of Fortune Brands Innovations by 6.6% in the 4th quarter. Capital Investment Advisors LLC now owns 3,049 shares of the company’s stock worth $208,000 after acquiring an additional 190 shares during the period. Finally, CIBC Asset Management Inc increased its stake in Fortune Brands Innovations by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 3,810 shares of the company’s stock valued at $260,000 after purchasing an additional 201 shares in the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

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.