Robert W. Baird Boosts Fortune Brands Innovations (NYSE:FBIN) Price Target to $86.00

Fortune Brands Innovations (NYSE:FBIN) had its target price lifted by Robert W. Baird from $85.00 to $86.00 in a research note published on Wednesday 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 upped their price objective on Fortune Brands Innovations from $87.00 to $95.00 and gave the company an overweight rating in a report on Wednesday, January 31st. BMO Capital Markets reiterated a market perform rating and issued a $82.00 price target (up from $76.00) on shares of Fortune Brands Innovations in a research report on Wednesday, January 31st. Finally, Oppenheimer began coverage on shares of Fortune Brands Innovations in a report on Friday, January 19th. They set a market perform rating for the company. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $79.22.

Fortune Brands Innovations Stock Up 2.4 %

Shares of NYSE FBIN opened at $73.15 on Wednesday. Fortune Brands Innovations has a 1 year low of $54.10 and a 1 year high of $84.92. The firm’s 50-day moving average is $79.15 and its 200-day moving average is $74.22. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $9.15 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 1.97 and a beta of 1.58.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Fortune Brands Innovations had a net margin of 8.87% and a return on equity of 22.88%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the firm earned $0.69 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities analysts expect that Fortune Brands Innovations will post 4.29 EPS for the current year.

Insider Activity

In related news, Director Ronald V. Waters sold 2,000 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $81.10, for a total transaction of $162,200.00. Following the sale, the director now owns 2,435 shares in the company, valued at $197,478.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Institutional Trading of Fortune Brands Innovations

Several institutional investors and hedge funds have recently added to or reduced their stakes in FBIN. GAMMA Investing LLC increased its position in Fortune Brands Innovations by 8.9% during the first quarter. GAMMA Investing LLC now owns 1,640 shares of the company’s stock worth $139,000 after buying an additional 134 shares during the last quarter. Apollon Wealth Management LLC increased its holdings in shares of Fortune Brands Innovations by 2.2% during the 4th quarter. Apollon Wealth Management LLC now owns 6,867 shares of the company’s stock worth $523,000 after acquiring an additional 149 shares during the last quarter. Addison Advisors LLC raised its stake in Fortune Brands Innovations by 38.7% in the 4th quarter. Addison Advisors LLC now owns 563 shares of the company’s stock valued at $43,000 after acquiring an additional 157 shares during the period. Choreo LLC lifted its holdings in Fortune Brands Innovations by 2.9% during the 1st quarter. Choreo LLC now owns 5,701 shares of the company’s stock valued at $483,000 after purchasing an additional 163 shares during the last quarter. Finally, Tributary Capital Management LLC boosted its position in Fortune Brands Innovations by 1.9% during the fourth quarter. Tributary Capital Management LLC now owns 8,661 shares of the company’s stock worth $659,000 after purchasing an additional 164 shares during the period. 87.60% of the stock is owned by 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.