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

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have been given a consensus recommendation of “Hold” by the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $78.44.

A number of brokerages have recently commented on FBIN. Robert W. Baird reduced their price target on shares of Fortune Brands Innovations from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday. Barclays raised their price objective on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Oppenheimer started coverage on shares of Fortune Brands Innovations in a report on Friday, January 19th. They issued a “market perform” rating on the stock. Finally, BMO Capital Markets reissued 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.

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of Fortune Brands Innovations stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $81.10, for a total transaction of $162,200.00. Following the transaction, the director now owns 2,435 shares of the company’s stock, valued at $197,478.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Fortune Brands Innovations

Several large investors have recently bought and sold shares of the business. State of Michigan Retirement System increased its position in Fortune Brands Innovations by 2.1% in the first quarter. State of Michigan Retirement System now owns 34,842 shares of the company’s stock worth $2,950,000 after purchasing an additional 700 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Fortune Brands Innovations by 132.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,017 shares of the company’s stock valued at $679,000 after acquiring an additional 4,561 shares during the last quarter. Harbour Capital Advisors LLC bought a new position in Fortune Brands Innovations during the first quarter valued at $301,000. Courier Capital LLC bought a new position in Fortune Brands Innovations during the first quarter valued at $203,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in Fortune Brands Innovations by 2.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company’s stock valued at $665,000 after acquiring an additional 168 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.

Fortune Brands Innovations Stock Performance

Shares of FBIN stock opened at $73.58 on Friday. The company has a 50 day moving average price of $80.44 and a 200-day moving average price of $73.33. Fortune Brands Innovations has a 52 week low of $54.10 and a 52 week high of $84.92. The firm has a market capitalization of $9.25 billion, a PE ratio of 23.21, a P/E/G ratio of 2.14 and a beta of 1.57. The company has a quick ratio of 0.89, a current ratio of 1.70 and a debt-to-equity ratio of 1.16.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Tuesday, January 30th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. Fortune Brands Innovations had a net margin of 8.74% and a return on equity of 22.61%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the business posted $1.07 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities research analysts expect that Fortune Brands Innovations will post 4.27 earnings per share for the current year.

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.