Robert W. Baird Raises Fortune Brands Innovations (NYSE:FBIN) Price Target to $94.00

Fortune Brands Innovations (NYSE:FBIN) had its price objective boosted by equities research analysts at Robert W. Baird from $82.00 to $94.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 7.50% from the stock’s previous close.

FBIN has been the topic of a number of other research reports. Royal Bank of Canada upped their price objective 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. Barclays upped their price objective on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Jefferies Financial Group upped their price objective on Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Truist Financial upped their price objective on Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Loop Capital decreased their target price on 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. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $90.20.

Fortune Brands Innovations Trading Down 0.8 %

NYSE:FBIN opened at $87.44 on Monday. The firm has a market cap of $10.94 billion, a P/E ratio of 26.62, a PEG ratio of 2.79 and a beta of 1.51. 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’s 50 day simple moving average is $83.25 and its 200-day simple moving average is $75.57. Fortune Brands Innovations has a 12-month low of $54.10 and a 12-month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Thursday, July 25th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.04. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the company posted $1.07 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. Equities analysts anticipate that Fortune Brands Innovations will post 4.29 EPS for the current year.

Institutional Trading of Fortune Brands Innovations

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Choreo LLC lifted its position in shares of Fortune Brands Innovations by 2.9% in 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 in the last quarter. Wedmont Private Capital lifted its position in Fortune Brands Innovations by 2.9% during the third quarter. Wedmont Private Capital now owns 5,786 shares of the company’s stock worth $502,000 after buying an additional 164 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Fortune Brands Innovations by 2.2% during 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 lifted its position in Fortune Brands Innovations by 2.4% during the second quarter. Summit Trail Advisors LLC now owns 7,297 shares of the company’s stock worth $474,000 after buying an additional 169 shares during the period. Finally, CWM LLC lifted 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 worth $197,000 after buying an additional 169 shares during the period. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

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.