Fortune Brands Innovations (NYSE:FBIN) Price Target 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 research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an in-line rating on the stock.

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

Fortune Brands Innovations Stock Up 2.4 %

FBIN stock opened at $73.15 on Wednesday. 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 firm has a 50 day simple moving average of $79.15 and a 200-day simple moving average of $74.22. The company has a market capitalization of $9.15 billion, a P/E ratio of 22.37, a PEG ratio of 1.97 and a beta of 1.58. Fortune Brands Innovations has a twelve month low of $54.10 and a twelve month high of $84.92.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.08 billion. Fortune Brands Innovations had a net margin of 8.87% and a return on equity of 22.88%. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period last year, the business earned $0.69 EPS. On average, equities research analysts predict that Fortune Brands Innovations will post 4.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ronald V. Waters sold 2,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 2,435 shares of the company’s stock, valued at $197,478.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fortune Brands Innovations

Several hedge funds and other institutional investors have recently modified their holdings of FBIN. Tobam boosted its holdings in shares of Fortune Brands Innovations by 1,181.5% during the fourth quarter. Tobam now owns 346 shares of the company’s stock valued at $26,000 after acquiring an additional 319 shares during the period. Sound Income Strategies LLC acquired a new position in shares of Fortune Brands Innovations during the fourth quarter valued at $27,000. Principal Securities Inc. bought a new stake in shares of Fortune Brands Innovations during the fourth quarter valued at about $29,000. Operose Advisors LLC bought a new stake in shares of Fortune Brands Innovations during the third quarter valued at about $31,000. Finally, BluePath Capital Management LLC acquired a new stake in Fortune Brands Innovations in the third quarter worth about $32,000. Institutional investors and hedge funds 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.