Fortune Brands Innovations (NYSE:FBIN) Given New $92.00 Price Target at Truist Financial

Fortune Brands Innovations (NYSE:FBIN) had its target price upped by stock analysts at Truist Financial from $82.00 to $92.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 17.23% from the stock’s previous close.

FBIN has been the subject of several other research reports. Jefferies Financial Group increased their price objective on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Robert W. Baird increased their price target on Fortune Brands Innovations from $82.00 to $94.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Royal Bank of Canada boosted their price objective on Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. increased their target price on Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Finally, Barclays raised their target price on Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Fortune Brands Innovations has an average rating of “Hold” and a consensus target price of $91.20.

Fortune Brands Innovations Trading Down 6.9 %

Shares of FBIN traded down $5.80 during mid-day trading on Thursday, hitting $78.48. The company had a trading volume of 355,659 shares, compared to its average volume of 1,172,250. Fortune Brands Innovations has a 1-year low of $59.72 and a 1-year high of $90.54. The business’s 50-day simple moving average is $84.99 and its 200-day simple moving average is $76.26. The stock has a market cap of $9.74 billion, a PE ratio of 24.08, a P/E/G ratio of 2.65 and a beta of 1.51. The company has a quick ratio of 0.71, a current ratio of 1.34 and a debt-to-equity ratio of 1.03.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period last year, the business posted $1.19 EPS. Sell-side analysts forecast that Fortune Brands Innovations will post 4.29 earnings per share for the current year.

Institutional Investors Weigh In On Fortune Brands Innovations

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Family Firm Inc. bought a new stake in Fortune Brands Innovations in the second quarter worth about $31,000. LRI Investments LLC acquired a new position in shares of Fortune Brands Innovations in the 1st quarter worth approximately $34,000. Brown Brothers Harriman & Co. raised its holdings in shares of Fortune Brands Innovations by 526.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock worth $34,000 after purchasing an additional 437 shares in the last quarter. Pathway Financial Advisers LLC acquired a new stake in Fortune Brands Innovations during the first quarter valued at approximately $51,000. Finally, Rothschild Investment LLC bought a new stake in Fortune Brands Innovations during the second quarter worth approximately $54,000. 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.