Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives Consensus Recommendation of “Hold” from Brokerages

Fortune Brands Innovations, Inc. (NYSE:FBIN) has been assigned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $86.64.

Several brokerages have weighed in on FBIN. UBS Group lowered their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. The Goldman Sachs Group lowered their target price on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Royal Bank of Canada cut their price target on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Finally, Barclays lowered their price objective on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th.

Insider Activity at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Kristin Papesh bought 483 shares of Fortune Brands Innovations stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the acquisition, the executive vice president now directly owns 7,617 shares in the company, valued at approximately $472,177.83. This represents a 6.77 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Ron Wilson sold 1,500 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.94, for a total transaction of $103,410.00. Following the completion of the transaction, the executive vice president now directly owns 10,066 shares of the company’s stock, valued at approximately $693,950.04. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fortune Brands Innovations

Several large investors have recently added to or reduced their stakes in FBIN. Charles Schwab Investment Management Inc. boosted its holdings in shares of Fortune Brands Innovations by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 853,111 shares of the company’s stock worth $76,379,000 after purchasing an additional 4,248 shares during the period. Cerity Partners LLC lifted its position in Fortune Brands Innovations by 76.1% in the third quarter. Cerity Partners LLC now owns 30,680 shares of the company’s stock worth $2,747,000 after buying an additional 13,263 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Fortune Brands Innovations by 9.1% during the third quarter. Daiwa Securities Group Inc. now owns 9,600 shares of the company’s stock worth $859,000 after buying an additional 800 shares during the period. FMR LLC increased its position in Fortune Brands Innovations by 104.5% during the third quarter. FMR LLC now owns 5,920,248 shares of the company’s stock valued at $530,040,000 after acquiring an additional 3,024,950 shares during the last quarter. Finally, D.A. Davidson & CO. increased its position in Fortune Brands Innovations by 0.6% during the third quarter. D.A. Davidson & CO. now owns 82,874 shares of the company’s stock valued at $7,420,000 after acquiring an additional 475 shares during the last quarter. 87.60% of the stock is owned by institutional investors.

Fortune Brands Innovations Price Performance

Shares of Fortune Brands Innovations stock opened at $62.77 on Friday. The stock has a market cap of $7.69 billion, a P/E ratio of 16.74, a P/E/G ratio of 2.00 and a beta of 1.53. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. The stock’s fifty day moving average is $66.98 and its 200 day moving average is $75.16. Fortune Brands Innovations has a one year low of $59.64 and a one year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. Sell-side analysts anticipate that Fortune Brands Innovations will post 4.24 earnings per share for the current year.

About Fortune Brands Innovations

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.