Analysts’ Recent Ratings Changes for Fortune Brands Innovations (FBIN)

A number of research firms have changed their ratings and price targets for Fortune Brands Innovations (NYSE: FBIN):

• 11/7/2024 – Fortune Brands Innovations had its price target lowered by analysts at Robert W. Baird from $94.00 to $90.00. They now have a “neutral” rating on the stock.
• 11/7/2024 – Fortune Brands Innovations had its price target lowered by analysts at Evercore ISI from $80.00 to $78.00. They now have an “in-line” rating on the stock.
• 11/7/2024 – Fortune Brands Innovations had its price target lowered by analysts at UBS Group AG from $98.00 to $97.00. They now have a “buy” rating on the stock.
• 11/7/2024 – Fortune Brands Innovations had its price target raised by analysts at Truist Financial Co. from $82.00 to $92.00. They now have a “buy” rating on the stock.
• 10/22/2024 – Fortune Brands Innovations had its price target raised by analysts at BMO Capital Markets from $84.00 to $95.00. They now have a “market perform” rating on the stock.
• 10/21/2024 – Fortune Brands Innovations had its price target raised by analysts at Robert W. Baird from $82.00 to $94.00. They now have a “neutral” rating on the stock.
• 10/9/2024 – Fortune Brands Innovations had its price target raised by analysts at Barclays PLC from $86.00 to $100.00. They now have an “overweight” rating on the stock.
• 10/9/2024 – Fortune Brands Innovations had its price target raised by analysts at Jefferies Financial Group Inc. from $100.00 to $111.00. They now have a “buy” rating on the stock.
• 10/8/2024 – Fortune Brands Innovations had its price target raised by analysts at The Goldman Sachs Group, Inc. from $86.00 to $98.00. They now have a “buy” rating on the stock.

Fortune Brands Innovations Stock Performance

FBIN stock traded up $0.31 during midday trading on Monday, reaching $74.26. The company had a trading volume of 1,180,335 shares, compared to its average volume of 1,189,923. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95. The stock has a 50 day moving average price of $84.82 and a 200 day moving average price of $76.44. Fortune Brands Innovations, Inc. has a fifty-two week low of $62.54 and a fifty-two week high of $90.54. The firm has a market capitalization of $9.23 billion, a PE ratio of 20.92, a P/E/G ratio of 2.37 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.01. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 earnings per share. Analysts anticipate that Fortune Brands Innovations, Inc. will post 4.19 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.29%. Fortune Brands Innovations’s dividend payout ratio (DPR) is presently 27.04%.

Institutional Investors Weigh In On Fortune Brands Innovations

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its holdings in Fortune Brands Innovations by 3.5% during the third quarter. CIBC Asset Management Inc now owns 3,609 shares of the company’s stock worth $323,000 after purchasing an additional 121 shares in the last quarter. Smithfield Trust Co raised its holdings in Fortune Brands Innovations by 4.6% during the third quarter. Smithfield Trust Co now owns 3,031 shares of the company’s stock worth $271,000 after purchasing an additional 133 shares in the last quarter. Wedmont Private Capital raised its holdings in Fortune Brands Innovations by 2.9% during the third quarter. Wedmont Private Capital now owns 5,786 shares of the company’s stock worth $502,000 after purchasing an additional 164 shares in the last quarter. Summit Trail Advisors LLC raised its holdings in Fortune Brands Innovations by 2.4% during the second quarter. Summit Trail Advisors LLC now owns 7,297 shares of the company’s stock worth $474,000 after purchasing an additional 169 shares in the last quarter. Finally, CWM LLC raised its holdings in Fortune Brands Innovations by 8.3% during the third quarter. CWM LLC now owns 2,199 shares of the company’s stock worth $197,000 after purchasing an additional 169 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

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.