Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives $90.20 Consensus Price Target from Brokerages

Fortune Brands Innovations, Inc. (NYSE:FBIN) has been given a consensus recommendation of “Hold” by the eleven research firms that are presently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $90.20.

FBIN has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price target on 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 boosted their price target on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Loop Capital decreased their price objective on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a report on Friday, July 12th. Royal Bank of Canada boosted their target price on Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Finally, Truist Financial increased their price target on Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, July 26th.

Fortune Brands Innovations Stock Down 0.8 %

NYSE:FBIN opened at $83.33 on Tuesday. The firm has a market capitalization of $10.34 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 2.76 and a beta of 1.51. Fortune Brands Innovations has a 52 week low of $55.47 and a 52 week high of $90.54. 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 stock has a 50 day moving average of $84.65 and a 200-day moving average of $75.98.

Fortune Brands Innovations Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors 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 dividend yield of 1.15%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations’s payout ratio is 27.20%.

Institutional Trading of Fortune Brands Innovations

Institutional investors and hedge funds have recently bought and sold shares of the stock. Choreo LLC raised its holdings in shares of Fortune Brands Innovations by 2.9% during the first quarter. Choreo LLC now owns 5,701 shares of the company’s stock valued at $483,000 after acquiring an additional 163 shares during the period. Wedmont Private Capital lifted its holdings in shares of Fortune Brands Innovations by 2.9% in 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 in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of 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 period. Summit Trail Advisors LLC grew 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 buying an additional 169 shares in the last quarter. Finally, CWM LLC raised its position in Fortune Brands Innovations by 8.3% during the third 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 period. Institutional investors and hedge funds own 87.60% of the company’s stock.

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.