Fortune Brands Innovations (NYSE:FBIN) Given New $97.00 Price Target at UBS Group

Fortune Brands Innovations (NYSE:FBIN) had its target price lowered by stock analysts at UBS Group from $98.00 to $97.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s target price would suggest a potential upside of 21.66% from the stock’s previous close.

Several other equities research analysts have also recently commented on FBIN. Loop Capital dropped their target price on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Barclays upped their target price on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. The Goldman Sachs Group increased their price objective on Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Robert W. Baird raised their target price on shares of Fortune Brands Innovations from $82.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. raised their price target on Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $91.73.

Fortune Brands Innovations Trading Down 5.4 %

Shares of NYSE FBIN traded down $4.55 during mid-day trading on Thursday, hitting $79.73. The stock had a trading volume of 1,101,439 shares, compared to its average volume of 1,176,572. The firm has a market cap of $9.90 billion, a P/E ratio of 22.55, a price-to-earnings-growth ratio of 2.65 and a beta of 1.51. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34. The business has a 50 day moving average price of $84.99 and a two-hundred day moving average price of $76.26. Fortune Brands Innovations has a 1 year low of $59.72 and a 1 year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.01. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.24 billion. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 22.93%. Fortune Brands Innovations’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.19 earnings per share. On average, equities analysts anticipate that Fortune Brands Innovations will post 4.29 EPS for the current fiscal year.

Institutional Trading of Fortune Brands Innovations

A number of institutional investors and hedge funds have recently made changes to their positions in FBIN. Family Firm Inc. purchased a new stake in shares of Fortune Brands Innovations in the second quarter valued at approximately $31,000. LRI Investments LLC purchased a new position in Fortune Brands Innovations in the first quarter worth approximately $34,000. Brown Brothers Harriman & Co. raised its position in Fortune Brands Innovations by 526.5% in the second quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock valued at $34,000 after purchasing an additional 437 shares during the period. Pathway Financial Advisers LLC acquired a new position in shares of Fortune Brands Innovations in the 1st quarter valued at $51,000. Finally, Rothschild Investment LLC acquired a new stake in shares of Fortune Brands Innovations during the 2nd quarter worth about $54,000. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

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.