Robert W. Baird Raises Fortune Brands Innovations (NYSE:FBIN) Price Target to $94.00

Fortune Brands Innovations (NYSE:FBIN) had its price target increased by equities researchers at Robert W. Baird from $82.00 to $94.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 4.43% from the company’s current price.

FBIN has been the topic of a number of other research reports. Barclays lifted their target price on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price target on Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Loop Capital cut their target price on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Truist Financial lifted their target price 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. Finally, Jefferies Financial Group upped their price objective on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Fortune Brands Innovations has an average rating of “Hold” and a consensus price target of $88.90.

Fortune Brands Innovations Trading Up 1.3 %

Shares of FBIN stock opened at $90.01 on Monday. The business has a 50-day moving average price of $82.92 and a two-hundred day moving average price of $75.52. Fortune Brands Innovations has a 12-month low of $54.10 and a 12-month high of $90.54. The company has a quick ratio of 0.71, a current ratio of 1.34 and a debt-to-equity ratio of 1.03. The firm has a market cap of $11.26 billion, a P/E ratio of 27.53, a price-to-earnings-growth ratio of 2.79 and a beta of 1.51.

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

Institutional Investors Weigh In On Fortune Brands Innovations

Several hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp boosted its holdings in shares of Fortune Brands Innovations by 1,074.0% during the 2nd quarter. Van ECK Associates Corp now owns 37,367 shares of the company’s stock valued at $2,426,000 after buying an additional 34,184 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Fortune Brands Innovations by 17.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 60,353 shares of the company’s stock worth $5,052,000 after purchasing an additional 8,836 shares during the period. Hillsdale Investment Management Inc. bought a new position in shares of Fortune Brands Innovations during the first quarter valued at approximately $624,000. Qsemble Capital Management LP lifted its holdings in shares of Fortune Brands Innovations by 1,091.8% during the second quarter. Qsemble Capital Management LP now owns 28,459 shares of the company’s stock valued at $1,848,000 after purchasing an additional 26,071 shares during the last quarter. Finally, Duality Advisers LP bought a new stake in shares of Fortune Brands Innovations in the 1st quarter worth approximately $5,498,000. 87.60% of the stock is currently owned by institutional investors.

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.