Analysts Set Fortune Brands Innovations, Inc. (NYSE:FBIN) Price Target at $80.38

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have received a consensus rating of “Hold” from the nine analysts that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $80.38.

A number of research firms have weighed in on FBIN. Evercore ISI decreased their price objective on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, May 1st. Robert W. Baird upped their price target on Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st.

Fortune Brands Innovations Price Performance

Shares of FBIN stock opened at $63.42 on Wednesday. The company has a market capitalization of $7.93 billion, a P/E ratio of 19.39, a P/E/G ratio of 1.79 and a beta of 1.52. The company has a current ratio of 2.04, a quick ratio of 1.08 and a debt-to-equity ratio of 1.33. Fortune Brands Innovations has a 12 month low of $54.10 and a 12 month high of $84.92. The stock has a 50 day moving average of $69.76 and a two-hundred day moving average of $75.71.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. Fortune Brands Innovations had a net margin of 8.87% and a return on equity of 22.88%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the company earned $0.69 earnings per share. The business’s revenue was up 6.7% compared to the same quarter last year. As a group, equities analysts expect that Fortune Brands Innovations will post 4.31 EPS for the current year.

Fortune Brands Innovations Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Thursday, May 23rd. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 29.36%.

Institutional Trading of Fortune Brands Innovations

Several institutional investors and hedge funds have recently added to or reduced their stakes in FBIN. Tobam grew its position in shares of Fortune Brands Innovations by 1,181.5% during the 4th quarter. Tobam now owns 346 shares of the company’s stock worth $26,000 after buying an additional 319 shares during the period. Sound Income Strategies LLC acquired a new position in shares of Fortune Brands Innovations in the 4th quarter valued at $27,000. Principal Securities Inc. bought a new position in shares of Fortune Brands Innovations in the 4th quarter worth $29,000. Operose Advisors LLC acquired a new stake in shares of Fortune Brands Innovations during the third quarter worth $31,000. Finally, LRI Investments LLC bought a new stake in Fortune Brands Innovations in the first quarter valued at about $34,000. 87.60% of the stock is owned by 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.