Fortune Brands Innovations (NYSE:FBIN) Given New $85.00 Price Target at Robert W. Baird

Fortune Brands Innovations (NYSE:FBIN) had its target price reduced by research analysts at Robert W. Baird from $86.00 to $85.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 13.06% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. BMO Capital Markets reissued a “market perform” rating and set a $82.00 price target (up previously from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. Barclays raised their price target on Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Finally, Oppenheimer assumed coverage on Fortune Brands Innovations in a report on Friday, January 19th. They set a “market perform” rating on the stock. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $78.44.

Fortune Brands Innovations Stock Performance

Shares of FBIN traded up $0.81 during midday trading on Thursday, reaching $75.18. 238,912 shares of the stock were exchanged, compared to its average volume of 1,042,883. The business’s 50-day moving average price is $80.57 and its 200 day moving average price is $73.32. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.70 and a quick ratio of 0.89. Fortune Brands Innovations has a twelve month low of $54.10 and a twelve month high of $84.92. The company has a market capitalization of $9.45 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 2.14 and a beta of 1.57.

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

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of Fortune Brands Innovations 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 sale, the director now owns 2,435 shares of the company’s stock, valued at approximately $197,478.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fortune Brands Innovations

Several institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Fortune Brands Innovations by 8.9% during the 1st quarter. GAMMA Investing LLC now owns 1,640 shares of the company’s stock worth $139,000 after purchasing an additional 134 shares during the last quarter. Apollon Wealth Management LLC raised its position in shares of Fortune Brands Innovations by 2.2% during the 4th quarter. Apollon Wealth Management LLC now owns 6,867 shares of the company’s stock worth $523,000 after purchasing an additional 149 shares during the last quarter. Addison Advisors LLC raised its holdings in Fortune Brands Innovations by 38.7% in the 4th quarter. Addison Advisors LLC now owns 563 shares of the company’s stock valued at $43,000 after acquiring an additional 157 shares during the last quarter. Tributary Capital Management LLC raised its holdings in Fortune Brands Innovations by 1.9% in the 4th quarter. Tributary Capital Management LLC now owns 8,661 shares of the company’s stock valued at $659,000 after acquiring an additional 164 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Fortune Brands Innovations by 2.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company’s stock valued at $665,000 after acquiring an additional 168 shares during the last quarter. Hedge funds and other 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.