Fortune Brands Innovations (NYSE:FBIN) PT Lowered to $78.00 at Evercore ISI

Fortune Brands Innovations (NYSE:FBIN) had its target price cut by Evercore ISI from $79.00 to $78.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an in-line rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Oppenheimer initiated coverage on shares of Fortune Brands Innovations in a research report on Friday, January 19th. They set a market perform rating on the stock. Robert W. Baird lifted their target price on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the company a neutral rating in a report on Wednesday. BMO Capital Markets reiterated a market perform rating and issued a $82.00 price target (up from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. Finally, Barclays boosted their price objective on Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an overweight rating in a research note on Wednesday, January 31st. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $79.22.

Fortune Brands Innovations Stock Up 2.4 %

Shares of FBIN opened at $73.15 on Wednesday. Fortune Brands Innovations has a fifty-two week low of $54.10 and a fifty-two week high of $84.92. The company’s fifty day moving average is $79.00 and its two-hundred day moving average is $74.30. The firm has a market cap of $9.15 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 2.02 and a beta of 1.58. The company has a quick ratio of 0.89, a current ratio of 2.04 and a debt-to-equity ratio of 1.33.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Tuesday, April 30th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Fortune Brands Innovations had a return on equity of 22.88% and a net margin of 8.87%. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 earnings per share. Analysts forecast that Fortune Brands Innovations will post 4.29 earnings per share for the current year.

Insider Activity at Fortune Brands Innovations

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $81.10, for a total value of $162,200.00. Following the transaction, the director now directly owns 2,435 shares of the company’s stock, valued at approximately $197,478.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fortune Brands Innovations

Several large investors have recently modified their holdings of the stock. Tobam lifted its holdings in Fortune Brands Innovations by 1,181.5% during the 4th quarter. Tobam now owns 346 shares of the company’s stock worth $26,000 after buying an additional 319 shares during the last quarter. Sound Income Strategies LLC bought a new position in Fortune Brands Innovations during the fourth quarter worth $27,000. Principal Securities Inc. acquired a new position in Fortune Brands Innovations in the fourth quarter worth $29,000. Operose Advisors LLC bought a new stake in Fortune Brands Innovations during the third quarter valued at $31,000. Finally, BluePath Capital Management LLC acquired a new stake in shares of Fortune Brands Innovations during the third quarter worth $32,000. Institutional investors own 87.60% of the company’s stock.

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.