Fortune Brands Innovations (NYSE:FBIN) Given New $90.00 Price Target at Robert W. Baird

Fortune Brands Innovations (NYSE:FBIN) had its price objective decreased by Robert W. Baird from $94.00 to $90.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 13.85% from the stock’s previous close.

Several other research analysts have also weighed in on the stock. Barclays raised their price objective on shares of 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 raised their price objective on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Jefferies Financial Group raised their price objective on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price target on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Evercore ISI decreased their price target on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $91.36.

Fortune Brands Innovations Stock Down 0.1 %

FBIN traded down $0.07 during trading hours on Thursday, reaching $79.05. 1,499,190 shares of the stock traded hands, compared to its average volume of 1,005,199. The firm’s fifty day simple moving average is $84.99 and its two-hundred day simple moving average is $76.32. The company has a market cap of $9.81 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 2.66 and a beta of 1.51. Fortune Brands Innovations has a fifty-two week low of $59.72 and a fifty-two week high of $90.54. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate 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 9.61% and a return on equity of 22.44%. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period last year, the business earned $1.19 EPS. As a group, analysts forecast that Fortune Brands Innovations will post 4.29 earnings per share for the current fiscal year.

Institutional Trading of Fortune Brands Innovations

Hedge funds and other institutional investors have recently made changes to their positions in the stock. LRI Investments LLC bought a new stake in shares of Fortune Brands Innovations during the 1st quarter worth about $34,000. Family Firm Inc. bought a new stake in shares of Fortune Brands Innovations during the 2nd quarter worth about $31,000. Brown Brothers Harriman & Co. raised its position in shares of Fortune Brands Innovations by 526.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock worth $34,000 after buying an additional 437 shares in the last quarter. Pathway Financial Advisers LLC bought a new stake in shares of Fortune Brands Innovations during the 1st quarter worth about $51,000. Finally, Rothschild Investment LLC bought 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 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.