Fortune Brands Innovations (NYSE:FBIN) PT Lowered to $78.00 at Evercore ISI

Fortune Brands Innovations (NYSE:FBIN) had its price target trimmed by Evercore ISI from $79.00 to $78.00 in a report published on Wednesday, Benzinga reports. The firm currently has an in-line rating on the stock.

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

Fortune Brands Innovations Price Performance

FBIN stock opened at $73.15 on Wednesday. The business’s fifty day moving average price is $79.15 and its 200 day moving average price is $74.22. Fortune Brands Innovations has a 12-month low of $54.10 and a 12-month high of $84.92. The company has a current ratio of 2.04, a quick ratio of 0.89 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $9.15 billion, a PE ratio of 22.37, a P/E/G ratio of 1.97 and a beta of 1.58.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Fortune Brands Innovations had a net margin of 8.87% and a return on equity of 22.88%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 earnings per share. On average, sell-side analysts anticipate that Fortune Brands Innovations will post 4.29 EPS for the current year.

Insiders Place Their Bets

In other Fortune Brands Innovations news, Director Ronald V. Waters sold 2,000 shares of the company’s stock in a transaction that occurred 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 directly owns 2,435 shares of the company’s stock, valued at approximately $197,478.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fortune Brands Innovations

Large investors have recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Fortune Brands Innovations by 152.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,693 shares of the company’s stock worth $567,000 after acquiring an additional 4,042 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Fortune Brands Innovations in the 1st quarter valued at approximately $507,000. FinTrust Capital Advisors LLC increased its position in Fortune Brands Innovations by 36.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 743 shares of the company’s stock worth $63,000 after purchasing an additional 200 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of Fortune Brands Innovations by 3.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 8,200 shares of the company’s stock worth $694,000 after buying an additional 300 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Fortune Brands Innovations by 6.8% during the 1st quarter. Nordea Investment Management AB now owns 1,480,177 shares of the company’s stock worth $125,386,000 after buying an additional 94,022 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

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.