Fortune Brands Innovations (NYSE:FBIN) PT Raised to $111.00

Fortune Brands Innovations (NYSE:FBIN) had its target price lifted by Jefferies Financial Group from $100.00 to $111.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s price target indicates a potential upside of 25.64% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Truist Financial boosted their target price on Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, July 26th. The Goldman Sachs Group increased their target price on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Barclays raised their price objective on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Royal Bank of Canada upped their target price 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. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $88.10.

Fortune Brands Innovations Price Performance

FBIN stock traded up $1.15 during trading on Wednesday, hitting $88.35. 751,901 shares of the company’s stock traded hands, compared to its average volume of 1,194,540. Fortune Brands Innovations has a 52 week low of $54.10 and a 52 week high of $90.54. The stock has a market capitalization of $11.05 billion, a price-to-earnings ratio of 27.02, a P/E/G ratio of 2.74 and a beta of 1.51. The business has a fifty day simple moving average of $80.76 and a 200 day simple moving average of $75.19. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Thursday, July 25th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.04. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 22.93%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.07 EPS. As a group, research analysts expect that Fortune Brands Innovations will post 4.29 EPS for the current fiscal year.

Institutional Trading of Fortune Brands Innovations

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