Barclays Forecasts Strong Price Appreciation for Fortune Brands Innovations (NYSE:FBIN) Stock

Fortune Brands Innovations (NYSE:FBIN) had its price target lifted by research analysts at Barclays from $64.00 to $67.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 27.31% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft assumed coverage on Fortune Brands Innovations in a report on Tuesday, April 1st. They issued a “hold” rating and a $70.00 price objective for the company. Royal Bank Of Canada cut their target price on shares of Fortune Brands Innovations from $70.00 to $59.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 7th. Robert W. Baird lowered their price target on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of Fortune Brands Innovations from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Finally, UBS Group reduced their price objective on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $77.27.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $52.63 on Tuesday. The company has a market capitalization of $6.33 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 2.90 and a beta of 1.36. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.72 and a current ratio of 1.41. Fortune Brands Innovations has a 52-week low of $47.21 and a 52-week high of $90.54. The company has a 50-day simple moving average of $52.17 and a 200 day simple moving average of $59.23.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.66 EPS for the quarter, hitting analysts’ consensus estimates of $0.66. Fortune Brands Innovations had a net margin of 9.42% and a return on equity of 20.96%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the firm posted $0.83 EPS. Fortune Brands Innovations’s revenue was down 6.9% on a year-over-year basis. On average, research analysts predict that Fortune Brands Innovations will post 4.24 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FBIN. Vanguard Group Inc. grew its stake in Fortune Brands Innovations by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 12,027,516 shares of the company’s stock worth $821,840,000 after buying an additional 68,404 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Fortune Brands Innovations by 113.5% during the 1st quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company’s stock worth $373,079,000 after acquiring an additional 3,257,428 shares during the last quarter. JPMorgan Chase & Co. grew its position in Fortune Brands Innovations by 9.2% in the first quarter. JPMorgan Chase & Co. now owns 4,855,425 shares of the company’s stock worth $295,598,000 after acquiring an additional 409,466 shares in the last quarter. Amundi grew its position in Fortune Brands Innovations by 24.1% in the first quarter. Amundi now owns 2,861,900 shares of the company’s stock worth $169,975,000 after acquiring an additional 555,036 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Fortune Brands Innovations by 22.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,351,110 shares of the company’s stock valued at $143,130,000 after acquiring an additional 426,929 shares during the last quarter. Institutional investors 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.