Fortune Brands Innovations (NYSE:FBIN) Price Target Raised to $95.00 at BMO Capital Markets

Fortune Brands Innovations (NYSE:FBIN) had its price objective increased by BMO Capital Markets from $84.00 to $95.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has a market perform rating on the stock.

FBIN has been the topic of a number of other reports. Royal Bank of Canada upped their target price on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. The Goldman Sachs Group increased their price objective on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Truist Financial increased their price objective on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Robert W. Baird increased their price objective on shares of Fortune Brands Innovations from $82.00 to $94.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Barclays increased their price objective on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $90.20.

Fortune Brands Innovations Price Performance

Shares of FBIN stock opened at $87.44 on Tuesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71. The company has a market capitalization of $10.94 billion, a P/E ratio of 26.74, a P/E/G ratio of 2.79 and a beta of 1.51. The company’s 50-day simple moving average is $83.25 and its two-hundred day simple moving average is $75.57. Fortune Brands Innovations has a one year low of $54.10 and a one year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Thursday, July 25th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.04. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.28 billion. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 22.93%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 EPS. As a group, equities analysts anticipate that Fortune Brands Innovations will post 4.29 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Friday, November 22nd will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a yield of 1.10%. Fortune Brands Innovations’s payout ratio is 29.36%.

Institutional Investors Weigh In On Fortune Brands Innovations

Hedge funds and other institutional investors have recently bought and sold shares of the company. Select Equity Group L.P. raised its holdings in shares of Fortune Brands Innovations by 48.8% in the second quarter. Select Equity Group L.P. now owns 6,326,857 shares of the company’s stock worth $410,866,000 after buying an additional 2,075,673 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of Fortune Brands Innovations by 12,402.4% in the second quarter. D. E. Shaw & Co. Inc. now owns 337,565 shares of the company’s stock worth $21,921,000 after buying an additional 334,865 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Fortune Brands Innovations in the second quarter worth $20,857,000. Robeco Schweiz AG raised its holdings in shares of Fortune Brands Innovations by 26.5% in the second quarter. Robeco Schweiz AG now owns 906,572 shares of the company’s stock worth $58,873,000 after buying an additional 189,635 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Fortune Brands Innovations by 71.0% in the second quarter. AQR Capital Management LLC now owns 415,255 shares of the company’s stock worth $26,967,000 after buying an additional 172,435 shares during the last quarter. 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.