Fortune Brands Innovations (NYSE:FBIN) Price Target Increased to $82.00 by Analysts at Truist Financial

Fortune Brands Innovations (NYSE:FBIN) had its price objective lifted by Truist Financial from $75.00 to $82.00 in a report released on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also issued reports on the stock. Barclays lowered their target price on shares of Fortune Brands Innovations from $90.00 to $84.00 and set an overweight rating on the stock in a research report on Friday, July 12th. Robert W. Baird upped 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, May 1st. Evercore ISI dropped their price target on Fortune Brands Innovations from $79.00 to $78.00 and set an in-line rating on the stock in a research report on Wednesday, May 1st. Loop Capital reduced their price objective on Fortune Brands Innovations from $82.00 to $79.00 and set a hold rating for the company in a research note on Friday, July 12th. Finally, The Goldman Sachs Group lowered their target price on Fortune Brands Innovations from $88.00 to $75.00 and set a buy rating on the stock in a research note on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $83.11.

Fortune Brands Innovations Price Performance

Shares of NYSE:FBIN opened at $79.69 on Friday. Fortune Brands Innovations has a 12 month low of $54.10 and a 12 month high of $84.92. The firm has a market capitalization of $9.97 billion, a P/E ratio of 24.37, a P/E/G ratio of 2.60 and a beta of 1.52. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71. The company’s fifty day moving average price is $68.37 and its 200 day moving average price is $74.79.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.04. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the company posted $1.07 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts predict that Fortune Brands Innovations will post 4.29 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Friday, August 23rd will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.20%. The ex-dividend date is Friday, August 23rd. Fortune Brands Innovations’s payout ratio is 29.36%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FBIN. GAMMA Investing LLC grew its stake 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 period. Apollon Wealth Management LLC grew its position in Fortune Brands Innovations by 2.2% during the fourth quarter. Apollon Wealth Management LLC now owns 6,867 shares of the company’s stock worth $523,000 after buying an additional 149 shares during the period. Addison Advisors LLC increased its holdings in Fortune Brands Innovations by 38.7% in the fourth quarter. Addison Advisors LLC now owns 563 shares of the company’s stock valued at $43,000 after buying an additional 157 shares in the last quarter. Choreo LLC lifted its position in shares of Fortune Brands Innovations by 2.9% during the 1st quarter. Choreo LLC now owns 5,701 shares of the company’s stock valued at $483,000 after acquiring an additional 163 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Fortune Brands Innovations by 2.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company’s stock worth $665,000 after acquiring an additional 168 shares in the last quarter. Hedge funds and other 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.