Fortune Brands Innovations (NYSE:FBIN) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Fortune Brands Innovations (NYSE:FBIN) had its price objective raised by stock analysts at Wells Fargo & Company from $48.00 to $51.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 7.95% from the company’s current price.

FBIN has been the topic of a number of other reports. Melius Research assumed coverage on Fortune Brands Innovations in a report on Tuesday, October 6th. They issued a “hold” rating and a $44.00 price objective on the stock. BMO Capital Markets lifted their price objective on shares of Fortune Brands Innovations from $50.00 to $53.00 and gave the company a “market perform” rating in a report on Tuesday, July 28th. Barclays cut their price target on Fortune Brands Innovations from $54.00 to $47.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 6th. Citigroup restated a “reduce” rating on shares of Fortune Brands Innovations in a report on Monday, October 19th. Finally, UBS Group boosted their target price on Fortune Brands Innovations from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $52.20.

Fortune Brands Innovations Stock Performance

Shares of FBIN traded up $1.35 during trading hours on Wednesday, hitting $47.24. The stock had a trading volume of 3,599,832 shares, compared to its average volume of 2,621,561. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 38.40, a PEG ratio of 2.30 and a beta of 1.25. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.05 and a current ratio of 2.01. The firm has a 50-day moving average price of $41.19 and a 200 day moving average price of $45.15. Fortune Brands Innovations has a fifty-two week low of $32.34 and a fifty-two week high of $64.84.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Tuesday, November 3rd. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.40. Fortune Brands Innovations had a return on equity of 19.50% and a net margin of 3.39%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the company posted $1.09 EPS. The business’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, research analysts anticipate that Fortune Brands Innovations will post 3.33 EPS for the current year.

Insider Activity at Fortune Brands Innovations

In related news, CEO Jesse Singh purchased 19,725 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were bought at an average price of $51.66 per share, for a total transaction of $1,018,993.50. Following the acquisition, the chief executive officer directly owned 19,725 shares in the company, valued at $1,018,993.50. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 3.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Parallel Advisors LLC raised its position in shares of Fortune Brands Innovations by 29.0% during the 3rd quarter. Parallel Advisors LLC now owns 1,797 shares of the company’s stock valued at $68,000 after acquiring an additional 404 shares in the last quarter. Greenleaf Trust acquired a new position in shares of Fortune Brands Innovations during the third quarter worth approximately $259,000. State of Wyoming acquired a new position in shares of Fortune Brands Innovations during the third quarter valued at $180,000. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in shares of Fortune Brands Innovations by 787.5% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 63,900 shares of the company’s stock worth $2,431,000 after acquiring an additional 56,700 shares during the period. Finally, Choreo LLC boosted its stake in Fortune Brands Innovations by 142.3% during the 3rd quarter. Choreo LLC now owns 10,085 shares of the company’s stock valued at $384,000 after purchasing an additional 5,923 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Trending Headlines about Fortune Brands Innovations

Here are the key news stories impacting Fortune Brands Innovations this week:

• Neutral Sentiment: Coverage gives conflicting EPS figures: Zacks reports $0.72 per share, below its $0.75 consensus estimate and down from $1.09 a year earlier; MarketBeat reports $1.14, above its cited $0.74 estimate. Revenue was $1.11 billion, below the $1.12 billion consensus and down 3.1% year over year. The company said results were in line with its outlook excluding tax and tariff benefits. Zacks earnings report Company results announcement
• Neutral Sentiment: Fortune Brands appointed Morgan Fox as executive vice president, chief legal officer and corporate secretary, effective December 2. The leadership change is not itself a clear near-term earnings catalyst. Appointment announcement
• Negative Sentiment: The weaker year-over-year earnings and revenue shortfall point to ongoing performance challenges. Management says the company is in the early stages of a multi-year “Back to Business” turnaround, so investors may look for evidence of improvement in upcoming results. Q3 earnings call transcript

About Fortune Brands Innovations

Fortune Brands Innovations, Inc is a manufacturer and marketer of products used in residential construction, remodeling and commercial applications. The company operates through businesses focused on water management, outdoor living and home safety and security.

Its portfolio includes plumbing products under brands such as Moen and House of Rohl; doors and related products marketed through Therma-Tru; composite decking and outdoor-living products from Fiberon; and locks, safes and security products sold under Master Lock and SentrySafe.