Fortune Brands Innovations (NYSE:FBIN) PT Lowered to $85.00 at Robert W. Baird

Fortune Brands Innovations (NYSE:FBIN) had its target price decreased by Robert W. Baird from $86.00 to $85.00 in a research note published on Thursday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

FBIN has been the subject of a number of other research reports. Barclays raised their price objective on Fortune Brands Innovations from $87.00 to $95.00 and gave the company an overweight rating in a research report on Wednesday, January 31st. Oppenheimer initiated coverage on Fortune Brands Innovations in a research report on Friday, January 19th. They issued a market perform rating for the company. Finally, BMO Capital Markets reiterated a market perform rating and issued a $82.00 price target (up previously from $76.00) on shares of Fortune Brands Innovations in a research report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $78.44.

Fortune Brands Innovations Trading Down 0.1 %

Shares of Fortune Brands Innovations stock opened at $73.51 on Thursday. The firm has a market cap of $9.24 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 2.09 and a beta of 1.57. The business has a 50-day moving average price of $80.31 and a 200-day moving average price of $73.51. The company has a quick ratio of 0.89, a current ratio of 1.70 and a debt-to-equity ratio of 1.16. Fortune Brands Innovations has a twelve month low of $54.10 and a twelve month high of $84.92.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Tuesday, January 30th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. Fortune Brands Innovations had a return on equity of 22.61% and a net margin of 8.74%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 earnings per share. Equities research analysts anticipate that Fortune Brands Innovations will post 4.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $81.10, for a total value of $162,200.00. Following the completion of the sale, the director now owns 2,435 shares of the company’s stock, valued at $197,478.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by insiders.

Institutional Trading of Fortune Brands Innovations

Institutional investors and hedge funds have recently modified their holdings of the stock. Tobam raised its stake in shares of Fortune Brands Innovations by 1,181.5% during the fourth quarter. Tobam now owns 346 shares of the company’s stock valued at $26,000 after acquiring an additional 319 shares in the last quarter. Sound Income Strategies LLC bought a new position in Fortune Brands Innovations in the fourth quarter worth approximately $27,000. Principal Securities Inc. bought a new position in Fortune Brands Innovations in the fourth quarter worth approximately $29,000. Rise Advisors LLC bought a new position in Fortune Brands Innovations in the first quarter worth approximately $38,000. Finally, IFP Advisors Inc bought a new position in Fortune Brands Innovations in the second quarter worth approximately $36,000. Institutional investors 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.