Robert W. Baird Raises Fortune Brands Innovations (NYSE:FBIN) Price Target to $94.00

Fortune Brands Innovations (NYSE:FBIN) had its price objective increased by Robert W. Baird from $82.00 to $94.00 in a report released on Monday, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Several other brokerages also recently weighed in on FBIN. Jefferies Financial Group increased their target price on Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group raised their price objective on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Truist Financial increased their price target on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a report on Friday, July 26th. Barclays boosted their price objective on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, Loop Capital reduced their target price on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a research note on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $90.20.

Fortune Brands Innovations Trading Down 0.9 %

Shares of FBIN stock opened at $86.66 on Monday. The business’s 50 day moving average is $83.52 and its two-hundred day moving average is $75.61. The company has a quick ratio of 0.71, a current ratio of 1.34 and a debt-to-equity ratio of 1.03. Fortune Brands Innovations has a 12 month low of $54.10 and a 12 month high of $90.54. The company has a market cap of $10.84 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 2.79 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Thursday, July 25th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.12 by $0.04. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 22.93%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm posted $1.07 EPS. The business’s quarterly revenue was up 6.6% on a year-over-year basis. Equities analysts predict that Fortune Brands Innovations will post 4.29 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s payout ratio is 29.36%.

Institutional Investors Weigh In On Fortune Brands Innovations

A number of large investors have recently bought and sold shares of the business. LRI Investments LLC bought a new stake in shares of Fortune Brands Innovations during the first quarter worth $34,000. Family Firm Inc. bought a new stake in Fortune Brands Innovations during the 2nd quarter worth about $31,000. Brown Brothers Harriman & Co. increased its position in Fortune Brands Innovations by 526.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock valued at $34,000 after acquiring an additional 437 shares in the last quarter. Pathway Financial Advisers LLC bought a new position in shares of Fortune Brands Innovations in the first quarter worth about $51,000. Finally, FinTrust Capital Advisors LLC lifted its position in shares of Fortune Brands Innovations by 36.8% during the first quarter. FinTrust Capital Advisors LLC now owns 743 shares of the company’s stock worth $63,000 after purchasing an additional 200 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors.

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.