Deutsche Bank Aktiengesellschaft Begins Coverage on Fortune Brands Innovations (NYSE:FBIN)

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Fortune Brands Innovations (NYSE:FBIN) in a research report report published on Tuesday, MarketBeat.com reports. The firm issued a hold rating and a $70.00 price target on the stock.

A number of other research analysts also recently issued reports on FBIN. The Goldman Sachs Group reduced their price objective on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. UBS Group reduced their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Royal Bank of Canada decreased their price objective on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Finally, Barclays dropped their target price on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Fortune Brands Innovations currently has an average rating of “Hold” and an average price target of $85.25.

Fortune Brands Innovations Stock Up 0.1 %

Fortune Brands Innovations stock opened at $60.91 on Tuesday. Fortune Brands Innovations has a fifty-two week low of $59.58 and a fifty-two week high of $90.54. 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 firm’s 50-day simple moving average is $66.16 and its 200 day simple moving average is $74.67. The stock has a market cap of $7.47 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53.

Fortune Brands Innovations (NYSE:FBIN) last announced its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. Research analysts predict that Fortune Brands Innovations will post 4.24 EPS for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Fortune Brands Innovations

Hedge funds have recently bought and sold shares of the company. U.S. Capital Wealth Advisors LLC lifted its stake in Fortune Brands Innovations by 1.7% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company’s stock worth $556,000 after purchasing an additional 138 shares in the last quarter. Atria Wealth Solutions Inc. increased its holdings in shares of Fortune Brands Innovations by 5.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock worth $222,000 after purchasing an additional 156 shares during the period. UMB Bank n.a. raised its position in shares of Fortune Brands Innovations by 11.2% in the fourth quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock worth $115,000 after buying an additional 170 shares in the last quarter. Capital Investment Advisors LLC boosted its stake in Fortune Brands Innovations by 6.6% during the fourth quarter. Capital Investment Advisors LLC now owns 3,049 shares of the company’s stock valued at $208,000 after buying an additional 190 shares during the period. Finally, CIBC Asset Management Inc grew its position in Fortune Brands Innovations by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 3,810 shares of the company’s stock worth $260,000 after buying an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

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.