Robert W. Baird Raises Fortune Brands Innovations (NYSE:FBIN) Price Target to $86.00

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

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

Fortune Brands Innovations Stock Down 2.7 %

Shares of Fortune Brands Innovations stock opened at $71.13 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 1.70 and a debt-to-equity ratio of 1.16. The company has a market cap of $8.94 billion, a P/E ratio of 21.75, a PEG ratio of 2.08 and a beta of 1.58. The firm’s 50 day moving average price is $79.51 and its 200-day moving average price is $74.26. Fortune Brands Innovations has a 52-week low of $54.10 and a 52-week high of $84.92.

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

Insider Transactions at Fortune Brands Innovations

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of Fortune Brands Innovations stock in a transaction that occurred on Monday, March 11th. The shares were 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 directly owns 2,435 shares in the company, valued at approximately $197,478.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Fortune Brands Innovations

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in Fortune Brands Innovations by 8.9% in the 1st quarter. GAMMA Investing LLC now owns 1,640 shares of the company’s stock worth $139,000 after purchasing an additional 134 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in Fortune Brands Innovations by 2.2% during the fourth quarter. Apollon Wealth Management LLC now owns 6,867 shares of the company’s stock worth $523,000 after buying an additional 149 shares in the last quarter. Addison Advisors LLC grew its position in Fortune Brands Innovations by 38.7% during the fourth quarter. Addison Advisors LLC now owns 563 shares of the company’s stock valued at $43,000 after buying an additional 157 shares during the period. Tributary Capital Management LLC grew its position in Fortune Brands Innovations by 1.9% during the fourth quarter. Tributary Capital Management LLC now owns 8,661 shares of the company’s stock valued at $659,000 after buying an additional 164 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Fortune Brands Innovations by 2.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company’s stock valued at $665,000 after buying an additional 168 shares in the last quarter. 87.60% of the stock is owned by hedge funds and other 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.