Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives Consensus Rating of “Hold” from Brokerages

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have been given a consensus rating of “Hold” by the nine brokerages that are currently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $83.11.

Several equities analysts recently commented on FBIN shares. Truist Financial upped their price target on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Friday. Robert W. Baird upped their price target on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Barclays upped their price target on shares of Fortune Brands Innovations from $84.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday. Royal Bank of Canada upped their price target on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a research note on Friday. Finally, The Goldman Sachs Group increased their price objective on shares of Fortune Brands Innovations from $75.00 to $86.00 and gave the stock a “buy” rating in a research note on Friday.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $78.74 on Friday. Fortune Brands Innovations has a 1 year low of $54.10 and a 1 year high of $84.92. The firm has a market capitalization of $9.85 billion, a P/E ratio of 24.08, a price-to-earnings-growth ratio of 2.40 and a beta of 1.52. The firm’s fifty day moving average price is $68.23 and its two-hundred day moving average price is $74.81. The company has a current ratio of 2.04, a quick ratio of 1.08 and a debt-to-equity ratio of 1.33.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.12 by $0.04. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 23.10%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the company earned $1.07 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, research analysts anticipate that Fortune Brands Innovations will post 4.26 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Friday, August 23rd will be issued a $0.24 dividend. The ex-dividend date is Friday, August 23rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.22%. Fortune Brands Innovations’s dividend payout ratio (DPR) is currently 29.36%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in FBIN. Tobam lifted its holdings in shares of Fortune Brands Innovations by 1,181.5% in the fourth quarter. Tobam now owns 346 shares of the company’s stock worth $26,000 after acquiring an additional 319 shares during the last quarter. Principal Securities Inc. bought a new position in shares of Fortune Brands Innovations in the fourth quarter worth about $29,000. Family Firm Inc. bought a new position in shares of Fortune Brands Innovations in the second quarter worth about $31,000. LRI Investments LLC bought a new position in shares of Fortune Brands Innovations in the first quarter worth about $34,000. Finally, First United Bank & Trust bought a new position in shares of Fortune Brands Innovations in the fourth quarter worth about $38,000. Institutional investors own 87.60% of the company’s stock.

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.