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

Fortune Brands Innovations (NYSE:FBIN) had its price target decreased by Robert W. Baird from $86.00 to $85.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 15.63% from the stock’s previous close.

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

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $73.51 on Thursday. Fortune Brands Innovations has a 52-week low of $54.10 and a 52-week high of $84.92. The company has a 50-day simple moving average of $80.31 and a 200 day simple moving average of $73.41. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.89 and a current ratio of 1.70. The company has a market capitalization of $9.24 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 2.12 and a beta of 1.57.

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

Insiders Place Their Bets

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $81.10, for a total transaction of $162,200.00. Following the completion of the transaction, the director now owns 2,435 shares in the company, valued at $197,478.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Fortune Brands Innovations

A number of large investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Fortune Brands Innovations by 8.9% in the first quarter. GAMMA Investing LLC now owns 1,640 shares of the company’s stock valued at $139,000 after acquiring an additional 134 shares during the period. Apollon Wealth Management LLC boosted its position in shares of Fortune Brands Innovations by 2.2% in the fourth quarter. Apollon Wealth Management LLC now owns 6,867 shares of the company’s stock valued at $523,000 after acquiring an additional 149 shares during the period. Addison Advisors LLC boosted its position in shares of Fortune Brands Innovations by 38.7% in the fourth 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. Tributary Capital Management LLC boosted its position in shares of Fortune Brands Innovations by 1.9% in the fourth quarter. Tributary Capital Management LLC now owns 8,661 shares of the company’s stock valued at $659,000 after acquiring an additional 164 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Fortune Brands Innovations by 2.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company’s stock valued at $665,000 after acquiring an additional 168 shares during the period. 87.60% of the stock is currently 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.