BMO Capital Markets Increases Fortune Brands Innovations (NYSE:FBIN) Price Target to $95.00

Fortune Brands Innovations (NYSE:FBIN) had its price objective upped by BMO Capital Markets from $84.00 to $95.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has a market perform rating on the stock.

Several other equities research analysts have also issued reports on FBIN. Barclays lifted their target price on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Robert W. Baird upped their target price on shares of Fortune Brands Innovations from $82.00 to $94.00 and gave the stock a “neutral” rating in a research report on Monday. Truist Financial lifted their price target on Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. increased their price objective on Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Finally, Jefferies Financial Group boosted their target price on Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $90.20.

Fortune Brands Innovations Stock Up 1.4 %

FBIN opened at $87.88 on Tuesday. The firm has a market capitalization of $10.99 billion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 2.79 and a beta of 1.51. Fortune Brands Innovations has a one year low of $54.10 and a one year high of $90.54. The company has a fifty day moving average price of $83.95 and a 200-day moving average price of $75.77. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Thursday, July 25th. The company reported $1.16 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 business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the business earned $1.07 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. Equities research analysts expect that Fortune Brands Innovations will post 4.29 earnings per share for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 29.36%.

Hedge Funds Weigh In On Fortune Brands Innovations

Several hedge funds and other institutional investors have recently modified their holdings of FBIN. Choreo LLC increased its holdings in 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 purchasing an additional 163 shares during the period. Wedmont Private Capital grew its position in shares of Fortune Brands Innovations by 2.9% in the 3rd quarter. Wedmont Private Capital now owns 5,786 shares of the company’s stock worth $502,000 after buying an additional 164 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Fortune Brands Innovations by 2.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company’s stock valued at $665,000 after buying an additional 168 shares during the period. Summit Trail Advisors LLC raised its holdings in shares of Fortune Brands Innovations by 2.4% during the second quarter. Summit Trail Advisors LLC now owns 7,297 shares of the company’s stock valued at $474,000 after acquiring an additional 169 shares in the last quarter. Finally, CWM LLC lifted its stake in Fortune Brands Innovations by 8.3% in the third quarter. CWM LLC now owns 2,199 shares of the company’s stock worth $197,000 after acquiring an additional 169 shares during the period. 87.60% of the stock is owned by institutional investors.

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.