Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $77.63.

A number of brokerages have issued reports on FBIN. The Goldman Sachs Group boosted their price target on Fortune Brands Innovations from $68.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, December 14th. Oppenheimer started coverage on Fortune Brands Innovations in a report on Friday, January 19th. They issued a “market perform” rating for the company. BMO Capital Markets restated a “market perform” rating and issued a $82.00 price objective (up from $76.00) on shares of Fortune Brands Innovations in a research report on Wednesday, January 31st. Finally, Barclays boosted their price objective on Fortune Brands Innovations from $87.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st.

Fortune Brands Innovations Trading Up 0.6 %

Shares of NYSE:FBIN opened at $77.66 on Friday. Fortune Brands Innovations has a 12-month low of $54.10 and a 12-month high of $84.92. The company has a market capitalization of $9.76 billion, a PE ratio of 24.50, a PEG ratio of 1.75 and a beta of 1.57. The business has a 50 day moving average of $80.70 and a two-hundred day moving average of $72.87. The company has a current ratio of 1.70, a quick ratio of 0.89 and a debt-to-equity ratio of 1.16.

Fortune Brands Innovations (NYSE:FBIN) last announced its quarterly earnings results on Tuesday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. Fortune Brands Innovations had a return on equity of 22.61% and a net margin of 8.74%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the company posted $1.07 earnings per share. Fortune Brands Innovations’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, analysts forecast that Fortune Brands Innovations will post 4.27 EPS for the current year.

Insider Activity

In related news, Director Ronald V. Waters sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $81.10, for a total transaction of $162,200.00. Following the completion of the sale, the director now directly owns 2,435 shares in the company, valued at $197,478.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.99% of the company’s stock.

Institutional Trading of Fortune Brands Innovations

Several large investors have recently made changes to their positions in FBIN. State Street Corp acquired a new position in Fortune Brands Innovations during the second quarter worth $365,010,000. Norges Bank acquired a new position in Fortune Brands Innovations during the fourth quarter worth $91,504,000. American Century Companies Inc. boosted its stake in Fortune Brands Innovations by 1,439.7% during the third quarter. American Century Companies Inc. now owns 665,475 shares of the company’s stock worth $41,366,000 after buying an additional 622,253 shares during the last quarter. Nordea Investment Management AB boosted its stake in Fortune Brands Innovations by 62.8% during the fourth quarter. Nordea Investment Management AB now owns 1,386,155 shares of the company’s stock worth $105,888,000 after buying an additional 534,901 shares during the last quarter. Finally, Wells Fargo & Company MN acquired a new position in Fortune Brands Innovations during the second quarter worth $38,294,000. 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.