Fortune Brands Innovations (NYSE:FBIN) Price Target Increased to $86.00 by Analysts at Robert W. Baird

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

FBIN has been the topic of a number of other research reports. Barclays boosted their price target 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 reissued a market perform rating and set a $82.00 target price (up from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st. Finally, Oppenheimer started coverage on Fortune Brands Innovations in a research note on Friday, January 19th. They issued a market perform rating for the company. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $79.22.

Fortune Brands Innovations Stock Up 2.4 %

Shares of Fortune Brands Innovations stock opened at $73.15 on Wednesday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.89 and a current ratio of 2.04. Fortune Brands Innovations has a 52-week low of $54.10 and a 52-week high of $84.92. The company’s 50 day moving average price is $79.00 and its 200-day moving average price is $74.30. The stock has a market capitalization of $9.15 billion, a price-to-earnings ratio of 22.37, a P/E/G ratio of 1.97 and a beta of 1.58.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the firm earned $0.69 EPS. The company’s revenue was up 6.7% on a year-over-year basis. Equities research analysts forecast that Fortune Brands Innovations will post 4.29 EPS for the current year.

Insider Activity at Fortune Brands Innovations

In other news, Director Ronald V. Waters sold 2,000 shares of the company’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 sale, the director now directly owns 2,435 shares of the company’s stock, valued at approximately $197,478.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Fortune Brands Innovations

A number of hedge funds have recently made changes to their positions in FBIN. Tobam increased its position in Fortune Brands Innovations by 1,181.5% during the 4th quarter. Tobam now owns 346 shares of the company’s stock valued at $26,000 after buying an additional 319 shares in the last quarter. Sound Income Strategies LLC bought a new position in shares of Fortune Brands Innovations during the fourth quarter valued at $27,000. Principal Securities Inc. bought a new position in shares of Fortune Brands Innovations during the fourth quarter valued at $29,000. Rise Advisors LLC purchased a new position in shares of Fortune Brands Innovations in the 1st quarter worth about $38,000. Finally, First United Bank & Trust bought a new position in Fortune Brands Innovations in the 4th quarter worth about $38,000. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Company Profile

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.