Fortune Brands Innovations (NYSE:FBIN) Price Target Lowered to $50.00 at Royal Bank Of Canada

Fortune Brands Innovations (NYSE:FBIN) had its price objective dropped by equities research analysts at Royal Bank Of Canada from $56.00 to $50.00 in a report released on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 30.29% from the stock’s previous close.

FBIN has been the topic of a number of other reports. The Goldman Sachs Group decreased their price objective on Fortune Brands Innovations from $69.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Robert W. Baird set a $44.00 price target on Fortune Brands Innovations in a research report on Friday. UBS Group reaffirmed a “buy” rating and set a $70.00 price objective on shares of Fortune Brands Innovations in a research note on Friday, February 13th. Wolfe Research set a $64.00 price target on shares of Fortune Brands Innovations in a research note on Friday, February 13th. Finally, Zacks Research lowered shares of Fortune Brands Innovations from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Fortune Brands Innovations presently has an average rating of “Hold” and an average price target of $52.50.

Fortune Brands Innovations Price Performance

Shares of FBIN stock traded down $0.71 on Friday, reaching $38.38. The company’s stock had a trading volume of 2,291,791 shares, compared to its average volume of 2,735,728. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 1.95 and a beta of 1.40. The stock’s fifty day simple moving average is $42.14 and its 200-day simple moving average is $49.20. The company has a current ratio of 1.84, a quick ratio of 0.89 and a debt-to-equity ratio of 1.07. Fortune Brands Innovations has a 1 year low of $36.07 and a 1 year high of $64.84.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.53 EPS for the quarter, meeting the consensus estimate of $0.53. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. Fortune Brands Innovations had a net margin of 6.70% and a return on equity of 18.54%. Fortune Brands Innovations’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.66 earnings per share. Analysts forecast that Fortune Brands Innovations will post 3.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fortune Brands Innovations

A number of institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. grew its stake in Fortune Brands Innovations by 0.8% in the fourth quarter. Osaic Holdings Inc. now owns 24,447 shares of the company’s stock worth $1,223,000 after purchasing an additional 198 shares in the last quarter. KLP Kapitalforvaltning AS increased its stake in shares of Fortune Brands Innovations by 0.8% during the third quarter. KLP Kapitalforvaltning AS now owns 25,100 shares of the company’s stock valued at $1,340,000 after buying an additional 200 shares during the period. Assetmark Inc. raised its holdings in shares of Fortune Brands Innovations by 1.2% in the fourth quarter. Assetmark Inc. now owns 17,728 shares of the company’s stock valued at $887,000 after acquiring an additional 208 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in Fortune Brands Innovations by 3.0% during the 4th quarter. TD Private Client Wealth LLC now owns 7,308 shares of the company’s stock worth $366,000 after acquiring an additional 213 shares in the last quarter. Finally, UMB Bank n.a. increased its position in Fortune Brands Innovations by 8.3% during the 3rd quarter. UMB Bank n.a. now owns 2,794 shares of the company’s stock valued at $149,000 after purchasing an additional 215 shares during the period. 87.60% of the stock is owned by hedge funds and other institutional investors.

About Fortune Brands Innovations

Fortune Brands Innovations (NYSE: FBIN), formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.