Analysts Set Fortune Brands Innovations, Inc. (NYSE:FBIN) Price Target at $54.38

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have earned a consensus rating of “Hold” from the sixteen analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $54.3846.

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada decreased their price objective on Fortune Brands Innovations from $56.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, May 8th. The Goldman Sachs Group boosted their target price on Fortune Brands Innovations from $50.00 to $61.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Barclays increased their price target on shares of Fortune Brands Innovations from $41.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday. JPMorgan Chase & Co. reduced their price objective on Fortune Brands Innovations from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, May 15th. Finally, Truist Financial upgraded shares of Fortune Brands Innovations from a “hold” rating to a “buy” rating and lifted their target price for the stock from $45.00 to $70.00 in a research report on Tuesday, June 30th.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $51.53 on Thursday. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.13 and a quick ratio of 1.04. Fortune Brands Innovations has a 1 year low of $32.34 and a 1 year high of $64.84. The company has a market capitalization of $6.15 billion, a PE ratio of 22.90, a P/E/G ratio of 3.32 and a beta of 1.30. The company has a fifty day moving average of $43.18 and a two-hundred day moving average of $46.70.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.53. Fortune Brands Innovations had a return on equity of 17.72% and a net margin of 6.12%.The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company posted $0.66 earnings per share. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. As a group, analysts expect that Fortune Brands Innovations will post 3.14 earnings per share for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 22nd were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Friday, May 22nd. Fortune Brands Innovations’s dividend payout ratio is 46.22%.

Insider Activity

In other news, Director Edward P. Garden bought 403,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average price of $33.40 per share, for a total transaction of $13,460,200.00. Following the completion of the transaction, the director owned 3,556,867 shares in the company, valued at $118,799,357.80. The trade was a 12.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have purchased a total of 786,367 shares of company stock worth $28,653,958 over the last quarter. Corporate insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On Fortune Brands Innovations

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Orbis Allan Gray Ltd grew its holdings in Fortune Brands Innovations by 586.7% in the 4th quarter. Orbis Allan Gray Ltd now owns 7,272,289 shares of the company’s stock valued at $363,760,000 after buying an additional 6,213,274 shares during the period. Garden Investment Management L.P. purchased a new position in shares of Fortune Brands Innovations in the 1st quarter valued at $137,471,000. Pictet Asset Management Holding SA raised its position in Fortune Brands Innovations by 74.0% in the first quarter. Pictet Asset Management Holding SA now owns 7,798,078 shares of the company’s stock valued at $303,757,000 after purchasing an additional 3,317,232 shares during the period. Norges Bank purchased a new stake in shares of Fortune Brands Innovations during the 4th quarter valued at about $83,796,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Fortune Brands Innovations during the second quarter worth $77,441,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.

About Fortune Brands Innovations

Fortune Brands Innovations (NYSE: FBIN), formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.