Brokerages Set Fortune Brands Innovations, Inc. (NYSE:FBIN) Target Price at $91.36

Fortune Brands Innovations, Inc. (NYSE:FBIN) has earned an average recommendation of “Hold” from the twelve research firms that are currently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $91.36.

Several brokerages recently issued reports on FBIN. BMO Capital Markets increased their price objective on Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. UBS Group reduced their price objective on Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Truist Financial increased their price objective on Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised 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. Finally, Barclays raised their price target on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th.

Fortune Brands Innovations Trading Up 5.9 %

NYSE:FBIN opened at $80.98 on Friday. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95. Fortune Brands Innovations has a 1-year low of $62.54 and a 1-year high of $90.54. The firm has a market capitalization of $10.06 billion, a price-to-earnings ratio of 22.81, a price-to-earnings-growth ratio of 2.45 and a beta of 1.51. The stock has a fifty day simple moving average of $84.23 and a 200 day simple moving average of $76.55.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.01. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the company posted $1.19 EPS. Fortune Brands Innovations’s revenue for the quarter was down 8.4% on a year-over-year basis. Sell-side analysts forecast that Fortune Brands Innovations will post 4.19 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s payout ratio is 27.04%.

Institutional Trading of Fortune Brands Innovations

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brooklyn Investment Group acquired a new stake in Fortune Brands Innovations in the 3rd quarter valued at approximately $25,000. Family Firm Inc. acquired a new stake in Fortune Brands Innovations in the 2nd quarter valued at approximately $31,000. LRI Investments LLC acquired a new stake in Fortune Brands Innovations in the 1st quarter valued at approximately $34,000. Brown Brothers Harriman & Co. grew its holdings in Fortune Brands Innovations by 526.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock valued at $34,000 after buying an additional 437 shares during the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in Fortune Brands Innovations in the 1st quarter valued at approximately $51,000. 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.