The Goldman Sachs Group Has Lowered Expectations for Fortune Brands Innovations (NYSE:FBIN) Stock Price

Fortune Brands Innovations (NYSE:FBIN) had its target price cut by investment analysts at The Goldman Sachs Group from $69.00 to $61.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 13.36% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. Barclays cut Fortune Brands Innovations from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $68.00 to $55.00 in a research note on Friday, February 13th. Robert W. Baird set a $55.00 price objective on shares of Fortune Brands Innovations in a research report on Friday, February 13th. Zelman & Associates cut shares of Fortune Brands Innovations from an “outperform” rating to a “neutral” rating in a research report on Friday, February 13th. BMO Capital Markets cut their target price on shares of Fortune Brands Innovations from $62.00 to $56.00 and set a “market perform” rating on the stock in a research note on Tuesday. Finally, Evercore reissued an “outperform” rating on shares of Fortune Brands Innovations in a research note on Friday, October 31st. Four investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $60.00.

Fortune Brands Innovations Price Performance

FBIN stock opened at $53.81 on Tuesday. The stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of 21.79, a PEG ratio of 3.13 and a beta of 1.41. The firm’s 50-day moving average price is $55.44 and its two-hundred day moving average price is $54.11. The company has a current ratio of 1.84, a quick ratio of 0.89 and a debt-to-equity ratio of 1.07. Fortune Brands Innovations has a 12-month low of $44.04 and a 12-month high of $67.99.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Thursday, February 12th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.14). Fortune Brands Innovations had a return on equity of 18.54% and a net margin of 6.70%.The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the business earned $0.98 earnings per share. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. Fortune Brands Innovations has set its FY 2026 guidance at 3.350-3.650 EPS. As a group, equities analysts predict that Fortune Brands Innovations will post 4.24 earnings per share for the current year.

Institutional Investors Weigh In On Fortune Brands Innovations

Several hedge funds have recently added to or reduced their stakes in FBIN. Orbis Allan Gray Ltd boosted its stake in Fortune Brands Innovations by 586.7% in the 4th quarter. Orbis Allan Gray Ltd now owns 7,272,289 shares of the company’s stock worth $363,760,000 after purchasing an additional 6,213,274 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in Fortune Brands Innovations during the 2nd quarter valued at about $87,611,000. Norges Bank purchased a new position in Fortune Brands Innovations in the fourth quarter worth about $83,796,000. Bank of New York Mellon Corp lifted its stake in shares of Fortune Brands Innovations by 147.8% in the third quarter. Bank of New York Mellon Corp now owns 2,691,827 shares of the company’s stock worth $143,717,000 after buying an additional 1,605,453 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Fortune Brands Innovations during the second quarter valued at approximately $77,441,000. 87.60% of the stock is owned by institutional investors.

About Fortune Brands Innovations

Fortune Brands Innovations (NYSE: FBIN), formerly known as Fortune Brands Home & Security, is a global leader in water innovations, specializing in the design, manufacturing and marketing of plumbing fixtures, fittings and related products. Headquartered in Deerfield, Illinois, the company leverages two iconic brands—Moen and House of Rohl—to deliver high-quality kitchen and bathroom solutions across residential and commercial markets. With a focus on performance, reliability and aesthetic design, FBIN’s portfolio spans faucets, showerheads, accessories and water filtration systems.

The company’s products are sold through a diversified network of retail partners, wholesale distributors and online channels across North America, Europe, Asia-Pacific and Latin America.