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

Fortune Brands Innovations (NYSE:FBIN) had its target price hoisted by investment analysts at BMO Capital Markets from $84.00 to $95.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 9.62% from the stock’s previous close.

FBIN has been the topic of several other research reports. Loop Capital dropped their price target on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Robert W. Baird lifted their target price on Fortune Brands Innovations from $82.00 to $94.00 and gave the company a “neutral” rating in a research report on Monday. Jefferies Financial Group increased their price target 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. Truist Financial lifted their price objective on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada increased their target price on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $90.20.

Fortune Brands Innovations Price Performance

Shares of FBIN opened at $86.66 on Tuesday. The business’s fifty day moving average is $83.52 and its 200 day moving average is $75.61. Fortune Brands Innovations has a 12-month low of $54.10 and a 12-month high of $90.54. The company has a quick ratio of 0.71, a current ratio of 1.34 and a debt-to-equity ratio of 1.03. The stock has a market cap of $10.84 billion, a P/E ratio of 26.50, a P/E/G ratio of 2.79 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.04. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm earned $1.07 earnings per share. Sell-side analysts anticipate that Fortune Brands Innovations will post 4.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FBIN. Choreo LLC increased its stake 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 worth $483,000 after purchasing an additional 163 shares during the last quarter. Wedmont Private Capital grew its holdings in Fortune Brands Innovations by 2.9% during the third quarter. Wedmont Private Capital now owns 5,786 shares of the company’s stock valued at $502,000 after purchasing an additional 164 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Fortune Brands Innovations by 2.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company’s stock worth $665,000 after buying an additional 168 shares during the last quarter. Summit Trail Advisors LLC raised its stake in shares of Fortune Brands Innovations by 2.4% in the second quarter. Summit Trail Advisors LLC now owns 7,297 shares of the company’s stock valued at $474,000 after buying an additional 169 shares during the period. Finally, CWM LLC lifted its position in shares of Fortune Brands Innovations by 8.3% during the 3rd quarter. CWM LLC now owns 2,199 shares of the company’s stock valued at $197,000 after buying an additional 169 shares during the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

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.