Fortune Brands Innovations (NYSE:FBIN) Price Target Increased to $95.00 by Analysts at BMO Capital Markets

Fortune Brands Innovations (NYSE:FBIN) had its target price lifted by BMO Capital Markets from $84.00 to $95.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a market perform rating on the stock.

Several other brokerages also recently weighed in on FBIN. Loop Capital dropped their target price on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a report on Friday, July 12th. JPMorgan Chase & Co. boosted their price target on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Royal Bank of Canada boosted their price target on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Jefferies Financial Group boosted their price target on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Truist Financial boosted their price target on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $90.20.

Fortune Brands Innovations Trading Down 0.8 %

Shares of FBIN stock opened at $87.44 on Tuesday. The company has a market cap of $10.94 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 2.79 and a beta of 1.51. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71. The firm has a fifty day moving average price of $83.25 and a 200-day moving average price of $75.57. Fortune Brands Innovations has a 1 year low of $54.10 and a 1 year high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last issued its earnings results on Thursday, July 25th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.04. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.28 billion. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 22.93%. Fortune Brands Innovations’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.07 EPS. As a group, equities analysts predict that Fortune Brands Innovations will post 4.29 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Friday, November 22nd. Fortune Brands Innovations’s dividend payout ratio is 29.36%.

Institutional Trading of Fortune Brands Innovations

Several hedge funds have recently made changes to their positions in the business. Choreo LLC grew its holdings in Fortune Brands Innovations by 2.9% during the 1st quarter. Choreo LLC now owns 5,701 shares of the company’s stock valued at $483,000 after purchasing an additional 163 shares during the last quarter. Wedmont Private Capital grew its holdings in Fortune Brands Innovations by 2.9% during the 3rd quarter. Wedmont Private Capital now owns 5,786 shares of the company’s stock valued at $502,000 after purchasing an additional 164 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Fortune Brands Innovations by 2.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,850 shares of the company’s stock valued at $665,000 after purchasing an additional 168 shares during the last quarter. Summit Trail Advisors LLC grew its holdings in Fortune Brands Innovations by 2.4% during the 2nd quarter. Summit Trail Advisors LLC now owns 7,297 shares of the company’s stock valued at $474,000 after purchasing an additional 169 shares during the last quarter. Finally, CWM LLC grew its holdings in Fortune Brands Innovations by 8.3% during the 3rd quarter. CWM LLC now owns 2,199 shares of the company’s stock valued at $197,000 after purchasing an additional 169 shares during the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

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.