Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives $64.40 Average Target Price from Brokerages

Fortune Brands Innovations, Inc. (NYSE:FBIN) has been given a consensus rating of “Hold” by the eleven research firms that are covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $64.40.

A number of research analysts recently weighed in on the stock. Barclays lowered their price objective on shares of Fortune Brands Innovations from $68.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Evercore ISI reissued an “outperform” rating on shares of Fortune Brands Innovations in a report on Friday, October 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Fortune Brands Innovations in a research note on Monday. Royal Bank Of Canada reduced their price objective on Fortune Brands Innovations from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Finally, Truist Financial reissued a “hold” rating and issued a $60.00 target price (down previously from $65.00) on shares of Fortune Brands Innovations in a report on Wednesday, August 27th.

Fortune Brands Innovations Trading Down 0.9%

Shares of NYSE:FBIN opened at $50.25 on Wednesday. The company has a market cap of $6.04 billion, a P/E ratio of 18.75, a PEG ratio of 3.75 and a beta of 1.40. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.95 and a quick ratio of 0.94. Fortune Brands Innovations has a 1 year low of $44.04 and a 1 year high of $79.96. The stock’s fifty day moving average price is $50.07 and its 200-day moving average price is $53.13.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Thursday, October 30th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.01). The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.18 billion. Fortune Brands Innovations had a return on equity of 19.28% and a net margin of 7.30%.Fortune Brands Innovations’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.16 earnings per share. Fortune Brands Innovations has set its FY 2025 guidance at 3.700-3.800 EPS. Sell-side analysts expect that Fortune Brands Innovations will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.0%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 37.31%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FBIN. Elevation Point Wealth Partners LLC bought a new stake in shares of Fortune Brands Innovations during the 2nd quarter valued at $26,000. Hilltop National Bank bought a new position in Fortune Brands Innovations in the 3rd quarter worth $26,000. EverSource Wealth Advisors LLC lifted its position in Fortune Brands Innovations by 158.3% during the second quarter. EverSource Wealth Advisors LLC now owns 527 shares of the company’s stock valued at $27,000 after purchasing an additional 323 shares in the last quarter. National Pension Service grew its holdings in Fortune Brands Innovations by 74.5% during the first quarter. National Pension Service now owns 466 shares of the company’s stock valued at $28,000 after purchasing an additional 199 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Fortune Brands Innovations by 119.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 539 shares of the company’s stock valued at $28,000 after purchasing an additional 293 shares during the period. 87.60% of the stock is currently owned by institutional investors.

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.