Fortune Brands Innovations (NYSE:FBIN) Price Target Cut to $97.00 by Analysts at UBS Group

Fortune Brands Innovations (NYSE:FBIN) had its price objective decreased by UBS Group from $98.00 to $97.00 in a report published on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

FBIN has been the topic of a number of other reports. BMO Capital Markets boosted their price target on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group boosted their target price on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI decreased their price target on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday. Royal Bank of Canada lifted their price objective on Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Finally, Truist Financial boosted their price objective on Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a report on Thursday. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $91.36.

Fortune Brands Innovations Trading Down 0.1 %

Fortune Brands Innovations stock traded down $0.07 during mid-day trading on Thursday, hitting $79.05. The company’s stock had a trading volume of 1,499,190 shares, compared to its average volume of 1,005,199. The stock’s fifty day moving average is $84.99 and its two-hundred day moving average is $76.33. The company has a current ratio of 1.34, a quick ratio of 0.71 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $9.81 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 2.66 and a beta of 1.51. Fortune Brands Innovations has a 1 year low of $59.72 and a 1 year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.44% and a net margin of 9.61%. The company’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period last year, the company earned $1.19 EPS. On average, analysts anticipate that Fortune Brands Innovations will post 4.29 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio is currently 27.04%.

Hedge Funds Weigh In On Fortune Brands Innovations

Institutional investors and hedge funds have recently made changes to their positions in the stock. Select Equity Group L.P. lifted its stake in Fortune Brands Innovations by 48.8% in the second quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company’s stock worth $410,866,000 after acquiring an additional 2,075,673 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Fortune Brands Innovations by 12,402.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 337,565 shares of the company’s stock worth $21,921,000 after purchasing an additional 334,865 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Fortune Brands Innovations during the second quarter worth $20,857,000. Robeco Schweiz AG increased its holdings in Fortune Brands Innovations by 26.5% in the second quarter. Robeco Schweiz AG now owns 906,572 shares of the company’s stock valued at $58,873,000 after buying an additional 189,635 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Fortune Brands Innovations by 71.0% in the second quarter. AQR Capital Management LLC now owns 415,255 shares of the company’s stock valued at $26,967,000 after buying an additional 172,435 shares in the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

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.