Fortune Brands Innovations (NYSE:FBIN) Hits New 52-Week High at $84.34

Fortune Brands Innovations, Inc. (NYSE:FBIN)’s stock price reached a new 52-week high on Thursday . The company traded as high as $84.34 and last traded at $84.07, with a volume of 14162 shares traded. The stock had previously closed at $84.15.

Analyst Upgrades and Downgrades

FBIN has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their target price on shares of Fortune Brands Innovations from $68.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, December 14th. BMO Capital Markets reissued a “market perform” rating and issued a $82.00 price target (up from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st. Barclays upped their target price on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Finally, Oppenheimer started coverage on Fortune Brands Innovations in a research note on Friday, January 19th. They set a “market perform” rating for the company. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Fortune Brands Innovations currently has a consensus rating of “Moderate Buy” and an average target price of $77.63.

Fortune Brands Innovations Trading Up 0.6 %

The company has a debt-to-equity ratio of 1.16, a current ratio of 1.70 and a quick ratio of 0.89. The stock has a market cap of $10.64 billion, a P/E ratio of 26.55, a price-to-earnings-growth ratio of 1.75 and a beta of 1.57. The stock’s 50-day moving average is $80.04 and its two-hundred day moving average is $71.61.

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, beating the consensus estimate of $0.93 by $0.02. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Fortune Brands Innovations had a net margin of 8.74% and a return on equity of 22.61%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.07 EPS. Equities research analysts anticipate that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current year.

Insider Activity at Fortune Brands Innovations

In other 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 transaction of $162,200.00. Following the transaction, the director now owns 2,435 shares of the company’s stock, valued at $197,478.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by insiders.

Institutional Trading of Fortune Brands Innovations

Institutional investors and hedge funds have recently modified their holdings of the stock. Cetera Advisor Networks LLC bought a new stake in Fortune Brands Innovations during the 2nd quarter valued at $667,000. Private Advisor Group LLC purchased a new stake in Fortune Brands Innovations in the second quarter worth about $316,000. Commonwealth Equity Services LLC bought a new position in Fortune Brands Innovations during the 2nd quarter worth about $4,028,000. Gamco Investors INC. ET AL purchased a new position in Fortune Brands Innovations during the 2nd quarter valued at about $17,586,000. Finally, ProShare Advisors LLC bought a new stake in shares of Fortune Brands Innovations in the 2nd quarter valued at about $533,000. 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.