Fortune Brands Innovations, Inc. (NYSE:FBIN) Given Consensus Recommendation of “Hold” by Analysts

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have earned a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $84.33.

A number of research firms have recently issued reports on FBIN. Deutsche Bank Aktiengesellschaft started coverage on shares of Fortune Brands Innovations in a research report on Tuesday, April 1st. They issued a “hold” rating and a $70.00 price target on the stock. UBS Group dropped their price target on Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Royal Bank of Canada lowered their price objective on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Barclays reduced their price target on shares of Fortune Brands Innovations from $79.00 to $68.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group cut their price objective on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th.

Insider Activity

In other news, EVP Ron Wilson sold 1,500 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the completion of the sale, the executive vice president now owns 10,066 shares in the company, valued at approximately $693,950.04. This represents a 12.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kristin Papesh bought 483 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the acquisition, the executive vice president now directly owns 7,617 shares in the company, valued at approximately $472,177.83. The trade was a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Fortune Brands Innovations

A number of hedge funds and other institutional investors have recently modified their holdings of FBIN. Riverwater Partners LLC boosted its holdings in shares of Fortune Brands Innovations by 8.5% in the first quarter. Riverwater Partners LLC now owns 4,726 shares of the company’s stock worth $288,000 after buying an additional 370 shares during the period. State of Alaska Department of Revenue boosted its stake in Fortune Brands Innovations by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 14,554 shares of the company’s stock worth $886,000 after purchasing an additional 390 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Fortune Brands Innovations by 15.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,537 shares of the company’s stock worth $763,000 after purchasing an additional 1,660 shares in the last quarter. Fifth Third Bancorp raised its stake in Fortune Brands Innovations by 15.4% during the 1st quarter. Fifth Third Bancorp now owns 2,075 shares of the company’s stock valued at $126,000 after purchasing an additional 277 shares during the period. Finally, Simon Quick Advisors LLC boosted its position in shares of Fortune Brands Innovations by 7.3% in the first quarter. Simon Quick Advisors LLC now owns 10,466 shares of the company’s stock worth $637,000 after buying an additional 711 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Down 2.9 %

Shares of NYSE:FBIN opened at $49.99 on Tuesday. Fortune Brands Innovations has a 12-month low of $47.21 and a 12-month high of $90.54. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The firm has a market cap of $6.06 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 2.00 and a beta of 1.42. The company has a fifty day simple moving average of $60.17 and a 200 day simple moving average of $70.86.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. On average, equities research analysts anticipate that Fortune Brands Innovations will post 4.24 EPS for the current fiscal year.

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.