Analysts Set Fortune Brands Innovations, Inc. (NYSE:FBIN) Price Target at $77.17

Fortune Brands Innovations, Inc. (NYSE:FBIN) has been given an average recommendation of “Hold” by the twelve ratings firms that are covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $77.17.

Several equities research analysts have recently issued reports on the stock. Truist Financial set a $65.00 target price on shares of Fortune Brands Innovations in a report on Wednesday, May 7th. Royal Bank Of Canada decreased their price objective on shares of Fortune Brands Innovations from $70.00 to $59.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 7th. UBS Group dropped their target price on Fortune Brands Innovations from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Robert W. Baird cut their target price on Fortune Brands Innovations from $56.00 to $54.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Finally, Barclays decreased their price target on Fortune Brands Innovations from $68.00 to $64.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th.

Institutional Investors Weigh In On Fortune Brands Innovations

Institutional investors and hedge funds have recently bought and sold shares of the company. Man Group plc purchased a new stake in shares of Fortune Brands Innovations in the 4th quarter worth approximately $344,000. Charles Schwab Investment Management Inc. raised its stake in Fortune Brands Innovations by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 864,833 shares of the company’s stock worth $59,094,000 after buying an additional 11,722 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Fortune Brands Innovations by 6,418.5% during the first quarter. GAMMA Investing LLC now owns 109,706 shares of the company’s stock worth $6,679,000 after buying an additional 108,023 shares during the period. Two Sigma Investments LP bought a new stake in Fortune Brands Innovations during the 4th quarter valued at $1,442,000. Finally, Raymond James Financial Inc. bought a new stake in Fortune Brands Innovations during the 4th quarter valued at $40,027,000. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Price Performance

Shares of Fortune Brands Innovations stock opened at $49.30 on Wednesday. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 2.81 and a beta of 1.38. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.72 and a current ratio of 1.41. The stock has a 50 day moving average price of $52.13 and a 200-day moving average price of $62.32. Fortune Brands Innovations has a one year low of $47.21 and a one year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.66. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.07 billion. Fortune Brands Innovations had a return on equity of 20.96% and a net margin of 9.42%. Fortune Brands Innovations’s revenue was down 6.9% on a year-over-year basis. During the same period last year, the company earned $0.83 earnings per share. Equities analysts expect that Fortune Brands Innovations will post 4.24 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Tuesday, May 27th were paid a $0.25 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $1.00 annualized dividend and a yield of 2.03%. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 29.33%.

Fortune Brands Innovations Company Profile

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.