Fortune Brands Innovations (NYSE:FBIN – Get Free Report) had its target price increased by equities research analysts at Truist Financial from $75.00 to $82.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 4.14% from the stock’s current price.
Other research analysts also recently issued reports about the company. Evercore ISI lowered their target price on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating for the company in a research report on Wednesday, May 1st. The Goldman Sachs Group lowered their target price on Fortune Brands Innovations from $88.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Robert W. Baird increased their target price on Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Barclays lowered their target price on Fortune Brands Innovations from $90.00 to $84.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Finally, Loop Capital lowered their target price on 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. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Fortune Brands Innovations has an average rating of “Hold” and a consensus price target of $83.11.
Read Our Latest Research Report on Fortune Brands Innovations
Fortune Brands Innovations Trading Up 9.1 %
FBIN stock opened at $78.74 on Friday. Fortune Brands Innovations has a 1-year low of $54.10 and a 1-year high of $84.92. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.04 and a quick ratio of 1.08. The company has a market capitalization of $9.85 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 2.40 and a beta of 1.52. The business has a 50 day simple moving average of $68.23 and a two-hundred day simple moving average of $74.81.
Fortune Brands Innovations (NYSE:FBIN – Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.04. Fortune Brands Innovations had a return on equity of 23.10% and a net margin of 9.39%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the company posted $1.07 EPS. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. Research analysts anticipate that Fortune Brands Innovations will post 4.26 EPS for the current fiscal year.
Institutional Trading of Fortune Brands Innovations
A number of hedge funds and other institutional investors have recently bought and sold shares of FBIN. Tobam increased its stake in Fortune Brands Innovations by 1,181.5% in the fourth quarter. Tobam now owns 346 shares of the company’s stock worth $26,000 after purchasing an additional 319 shares during the period. Principal Securities Inc. purchased a new stake in Fortune Brands Innovations in the fourth quarter worth $29,000. Family Firm Inc. purchased a new stake in Fortune Brands Innovations in the second quarter worth $31,000. LRI Investments LLC purchased a new stake in Fortune Brands Innovations in the first quarter worth $34,000. Finally, First United Bank & Trust purchased a new stake in Fortune Brands Innovations in the fourth quarter worth $38,000. Hedge funds and other institutional investors 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.
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Source: defenseworld.net
