Fortune Brands Innovations (NYSE:FBIN) Given New $86.00 Price Target at Robert W. Baird

Fortune Brands Innovations (NYSE:FBIN) had its price objective increased by Robert W. Baird from $85.00 to $86.00 in a research note published on Wednesday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Several other analysts have also issued reports on the company. Oppenheimer assumed coverage on Fortune Brands Innovations in a research note on Friday, January 19th. They issued a market perform rating on the stock. Barclays upped their price target 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. Finally, BMO Capital Markets restated a market perform rating and issued a $82.00 price objective (up from $76.00) on shares of Fortune Brands Innovations in a research report on Wednesday, January 31st. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $79.22.

Fortune Brands Innovations Stock Down 2.7 %

FBIN opened at $71.13 on Wednesday. Fortune Brands Innovations has a fifty-two week low of $54.10 and a fifty-two week high of $84.92. The firm has a market capitalization of $8.94 billion, a P/E ratio of 21.75, a PEG ratio of 2.08 and a beta of 1.58. The company’s 50-day moving average is $79.51 and its 200 day moving average is $74.26. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.70 and a quick ratio of 0.89.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Fortune Brands Innovations had a return on equity of 23.01% and a net margin of 8.87%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the business posted $0.69 earnings per share. Fortune Brands Innovations’s revenue was up 6.7% on a year-over-year basis. Research analysts expect that Fortune Brands Innovations will post 4.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Fortune Brands Innovations

In related news, Director Ronald V. Waters sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $81.10, for a total value of $162,200.00. Following the sale, the director now directly owns 2,435 shares of the company’s stock, valued at $197,478.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fortune Brands Innovations

A number of institutional investors have recently bought and sold shares of FBIN. Arvest Investments Inc. bought a new position in Fortune Brands Innovations during the 4th quarter valued at approximately $1,561,000. Louisiana State Employees Retirement System purchased a new stake in Fortune Brands Innovations during the 4th quarter valued at about $2,695,000. Walleye Trading LLC grew its position in Fortune Brands Innovations by 72.4% during the 3rd quarter. Walleye Trading LLC now owns 30,323 shares of the company’s stock valued at $1,885,000 after purchasing an additional 12,738 shares during the last quarter. Jump Financial LLC bought a new stake in Fortune Brands Innovations during the 3rd quarter valued at about $596,000. Finally, Achmea Investment Management B.V. raised its holdings in Fortune Brands Innovations by 148.0% in the third quarter. Achmea Investment Management B.V. now owns 130,914 shares of the company’s stock worth $8,138,000 after buying an additional 78,135 shares during the last quarter. 87.60% of the stock is owned by institutional investors.

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.