Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have received a consensus recommendation of “Hold” from the ten research firms that are presently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $79.22.

FBIN has been the subject of a number of research analyst reports. Barclays upped their target price 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. BMO Capital Markets reaffirmed a “market perform” rating and issued a $82.00 price objective (up previously from $76.00) on shares of Fortune Brands Innovations in a report on Wednesday, January 31st. Robert W. Baird boosted their target price on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Evercore ISI dropped their price objective on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating for the company in a research note on Wednesday, May 1st. 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.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $73.76 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 2.04 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $9.23 billion, a PE ratio of 22.56, a P/E/G ratio of 2.02 and a beta of 1.58. The firm has a 50 day moving average of $79.00 and a two-hundred day moving average of $74.51. Fortune Brands Innovations has a 52 week low of $54.10 and a 52 week high of $84.92.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.08 billion. Fortune Brands Innovations had a net margin of 8.87% and a return on equity of 22.88%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 EPS. On average, research analysts predict that Fortune Brands Innovations will post 4.29 EPS for the current fiscal year.

Insider Buying and Selling

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of the business’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 completion of the sale, the director now 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 is available through this hyperlink. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Choreo LLC acquired a new position in shares of Fortune Brands Innovations in the 4th quarter valued at approximately $422,000. Arvest Investments Inc. bought a new stake in shares of Fortune Brands Innovations during the 4th quarter valued at about $1,561,000. Louisiana State Employees Retirement System acquired a new stake in shares of Fortune Brands Innovations during the 4th quarter worth approximately $2,695,000. Walleye Trading LLC increased its position in Fortune Brands Innovations by 72.4% in the third quarter. Walleye Trading LLC now owns 30,323 shares of the company’s stock worth $1,885,000 after buying an additional 12,738 shares during the period. Finally, Jump Financial LLC bought a new stake in Fortune Brands Innovations in the 3rd quarter valued at about $596,000. 87.60% of the stock is owned by hedge funds and other 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.