Analysts Set Fortune Brands Innovations, Inc. (NYSE:FBIN) PT at $77.63

Fortune Brands Innovations, Inc. (NYSE:FBIN) has been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $77.63.

FBIN has been the subject of a number of analyst reports. BMO Capital Markets reaffirmed a “market perform” rating and issued a $82.00 target price (up previously from $76.00) on shares of Fortune Brands Innovations in a research report on Wednesday, January 31st. Oppenheimer initiated coverage on shares of Fortune Brands Innovations in a research report on Friday, January 19th. They issued a “market perform” rating for the company. Finally, Barclays raised their target price on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st.

Insider Buying and Selling at Fortune Brands Innovations

In other news, Director Ronald V. Waters sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $81.10, for a total transaction of $162,200.00. Following the completion of the sale, the director now owns 2,435 shares in the company, valued at approximately $197,478.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.99% of the company’s stock.

Institutional Trading of Fortune Brands Innovations

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Fortune Brands Innovations by 0.4% during the third quarter. Vanguard Group Inc. now owns 12,409,724 shares of the company’s stock worth $771,388,000 after acquiring an additional 50,047 shares during the period. State Street Corp bought a new position in Fortune Brands Innovations during the second quarter worth about $365,010,000. Federated Hermes Inc. increased its position in Fortune Brands Innovations by 6.4% during the third quarter. Federated Hermes Inc. now owns 2,045,726 shares of the company’s stock worth $127,162,000 after acquiring an additional 123,041 shares during the period. Fiduciary Management Inc. WI increased its position in Fortune Brands Innovations by 19.4% during the fourth quarter. Fiduciary Management Inc. WI now owns 1,986,070 shares of the company’s stock worth $151,219,000 after acquiring an additional 322,472 shares during the period. Finally, Northern Trust Corp increased its position in Fortune Brands Innovations by 15.7% during the third quarter. Northern Trust Corp now owns 1,654,531 shares of the company’s stock worth $102,846,000 after acquiring an additional 224,829 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Price Performance

Shares of FBIN stock opened at $75.40 on Friday. Fortune Brands Innovations has a 1 year low of $54.10 and a 1 year high of $84.92. The firm’s 50 day moving average is $80.66 and its 200-day moving average is $73.32. The firm has a market capitalization of $9.48 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 2.21 and a beta of 1.57. The company has a current ratio of 1.70, a quick ratio of 0.89 and a debt-to-equity ratio of 1.16.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Tuesday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. Fortune Brands Innovations had a net margin of 8.74% and a return on equity of 22.61%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the business earned $1.07 earnings per share. Fortune Brands Innovations’s quarterly revenue was up 2.6% on a year-over-year basis. Sell-side analysts forecast that Fortune Brands Innovations will post 4.27 EPS for the current fiscal year.

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.