Fortune Brands Innovations (NYSE:FBIN) Price Target Cut to $78.00 by Analysts at Evercore ISI

Fortune Brands Innovations (NYSE:FBIN) had its price objective reduced by Evercore ISI from $79.00 to $78.00 in a research report sent to investors on Wednesday, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

Several other equities analysts have also recently weighed in on the company. Robert W. Baird raised their price objective on Fortune Brands Innovations from $85.00 to $86.00 and gave the company a neutral rating in a report on Wednesday. Oppenheimer assumed coverage on Fortune Brands Innovations in a research note on Friday, January 19th. They issued a market perform rating for the company. BMO Capital Markets reiterated a market perform rating and set a $82.00 price objective (up previously from $76.00) on shares of Fortune Brands Innovations in a research note on Wednesday, January 31st. Finally, Barclays raised their target price on shares of Fortune Brands Innovations from $87.00 to $95.00 and gave the company an overweight rating in a research note on Wednesday, January 31st. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $79.22.

Fortune Brands Innovations Trading Down 2.7 %

NYSE:FBIN opened at $71.13 on Wednesday. The company has a market cap of $8.94 billion, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 2.08 and a beta of 1.58. Fortune Brands Innovations has a twelve month low of $54.10 and a twelve month high of $84.92. The business has a 50 day moving average price of $79.51 and a two-hundred day moving average price of $74.26. 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 data on Tuesday, April 30th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.08 billion. Fortune Brands Innovations had a net margin of 8.87% and a return on equity of 23.01%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 earnings per share. As a group, analysts expect that Fortune Brands Innovations will post 4.27 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Arvest Investments Inc. bought a new stake in shares of Fortune Brands Innovations during the fourth quarter worth approximately $1,561,000. Louisiana State Employees Retirement System bought a new stake in Fortune Brands Innovations in the 4th quarter valued at $2,695,000. Walleye Trading LLC grew its holdings in Fortune Brands Innovations by 72.4% in the 3rd quarter. Walleye Trading LLC now owns 30,323 shares of the company’s stock valued at $1,885,000 after buying an additional 12,738 shares in the last quarter. Jump Financial LLC bought a new position in Fortune Brands Innovations during the 3rd quarter worth $596,000. Finally, Achmea Investment Management B.V. lifted its holdings in shares of Fortune Brands Innovations by 148.0% during 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 in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

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.