Fortune Brands Innovations (NYSE:FBIN) Stock Picked Up by Analysts at Melius Research

Stock analysts at Melius Research started coverage on shares of Fortune Brands Innovations (NYSE:FBIN) in a note issued to investors on Tuesday, MarketBeat.com reports. The brokerage set a “hold” rating and a $44.00 price target on the stock. Melius Research’s price objective suggests a potential upside of 14.35% from the stock’s current price.

A number of other research firms also recently issued reports on FBIN. Zacks Research upgraded shares of Fortune Brands Innovations from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. The Goldman Sachs Group restated a “buy” rating and set a $68.00 target price on shares of Fortune Brands Innovations in a report on Wednesday, August 5th. Wells Fargo & Company decreased their target price on shares of Fortune Brands Innovations from $52.00 to $48.00 and set an “overweight” rating for the company in a research report on Friday, September 11th. Evercore set a $45.00 price target on shares of Fortune Brands Innovations in a research note on Friday, September 25th. Finally, Truist Financial raised shares of Fortune Brands Innovations from a “hold” rating to a “buy” rating and boosted their price target for the stock from $45.00 to $70.00 in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $52.93.

Fortune Brands Innovations Stock Down 2.2%

Shares of Fortune Brands Innovations stock opened at $38.48 on Tuesday. The business’s 50 day simple moving average is $43.65 and its 200 day simple moving average is $42.86. Fortune Brands Innovations has a 52-week low of $32.34 and a 52-week high of $64.84. The firm has a market cap of $4.59 billion, a PE ratio of 31.28, a P/E/G ratio of 1.74 and a beta of 1.31. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.05 and a current ratio of 2.01.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Tuesday, August 4th. The company reported $1.35 EPS for the quarter, beating the consensus estimate of $0.80 by $0.55. Fortune Brands Innovations had a return on equity of 19.50% and a net margin of 3.39%.The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business posted $1.00 EPS. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. Fortune Brands Innovations has set its FY 2026 guidance at 3.220-3.520 EPS. On average, analysts predict that Fortune Brands Innovations will post 3.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Fortune Brands Innovations

In other news, CEO Jesse Singh purchased 19,725 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average cost of $51.66 per share, with a total value of $1,018,993.50. Following the acquisition, the chief executive officer owned 19,725 shares in the company, valued at approximately $1,018,993.50. This trade represents a ? increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Fortune Brands Innovations during the first quarter worth $30,000. EFG International AG bought a new stake in shares of Fortune Brands Innovations in the second quarter valued at about $32,000. Community Bank N.A. boosted its position in shares of Fortune Brands Innovations by 59.4% in the second quarter. Community Bank N.A. now owns 765 shares of the company’s stock valued at $42,000 after acquiring an additional 285 shares during the period. Twin Tree Management LP acquired a new position in shares of Fortune Brands Innovations in the second quarter valued at about $47,000. Finally, Parallel Advisors LLC grew its stake in shares of Fortune Brands Innovations by 31.8% in the first quarter. Parallel Advisors LLC now owns 1,247 shares of the company’s stock valued at $49,000 after acquiring an additional 301 shares in the last quarter. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Company Profile

Fortune Brands Innovations, Inc is a manufacturer and marketer of products used in residential construction, renovation and outdoor living. The company operates a portfolio of brands focused on water, doors, outdoor living and home security products.

Its water-related products include faucets, showers and other plumbing fixtures marketed under brands such as Moen, House of Rohl, ROHL, Perrin & Rowe and Aqualisa. Its doors and outdoor living businesses offer entry doors, storm and screen doors, decking, railing, fencing and related building products through brands including Therma-Tru, Larson, Fiberon and Fypon.