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

Fortune Brands Innovations (NYSE:FBIN) had its price target cut by Robert W. Baird from $86.00 to $85.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

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

Fortune Brands Innovations Stock Down 1.1 %

FBIN stock opened at $73.58 on Thursday. The firm has a market cap of $9.25 billion, a PE ratio of 23.21, a PEG ratio of 2.12 and a beta of 1.57. Fortune Brands Innovations has a 1 year low of $54.10 and a 1 year high of $84.92. The company has a fifty day simple moving average of $80.44 and a 200 day simple moving average of $73.33. The company has a current ratio of 1.70, a quick ratio of 0.89 and a debt-to-equity ratio of 1.16.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Tuesday, January 30th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.02. The company had revenue of $1.16 billion for 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 revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company earned $1.07 earnings per share. Sell-side analysts anticipate that Fortune Brands Innovations will post 4.27 EPS for the current fiscal year.

Insider Activity

In related news, Director Ronald V. Waters sold 2,000 shares of Fortune Brands Innovations 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 directly owns 2,435 shares of the company’s stock, valued at $197,478.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fortune Brands Innovations

Institutional investors have recently bought and sold shares of the business. Tobam lifted its holdings in shares of Fortune Brands Innovations by 1,181.5% during the 4th quarter. Tobam now owns 346 shares of the company’s stock worth $26,000 after acquiring an additional 319 shares during the period. Sound Income Strategies LLC bought a new position in Fortune Brands Innovations during the fourth quarter worth about $27,000. Principal Securities Inc. acquired a new stake in Fortune Brands Innovations during the fourth quarter valued at approximately $29,000. Operose Advisors LLC bought a new stake in shares of Fortune Brands Innovations in the 3rd quarter valued at approximately $31,000. Finally, BluePath Capital Management LLC acquired a new position in shares of Fortune Brands Innovations in the 3rd quarter worth approximately $32,000. 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.