Fortune Brands Innovations (NYSE:FBIN) Given New $54.00 Price Target at Robert W. Baird

Fortune Brands Innovations (NYSE:FBIN) had its price target lowered by stock analysts at Robert W. Baird from $56.00 to $54.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 5.46% from the company’s current price.

FBIN has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fortune Brands Innovations in a report on Tuesday, April 1st. They issued a “hold” rating and a $70.00 target price on the stock. UBS Group dropped their price objective on Fortune Brands Innovations from $90.00 to $82.00 and set a “buy” rating for the company in a report on Wednesday. The Goldman Sachs Group decreased their price objective on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Barclays lowered their target price on shares of Fortune Brands Innovations from $79.00 to $68.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada reduced their price target on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Fortune Brands Innovations currently has an average rating of “Hold” and a consensus price target of $77.17.

Fortune Brands Innovations Trading Up 6.3 %

Shares of NYSE:FBIN opened at $51.20 on Wednesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.65 and a current ratio of 1.25. The stock’s 50-day moving average is $56.64 and its 200-day moving average is $67.91. The company has a market cap of $6.21 billion, a P/E ratio of 13.65, a P/E/G ratio of 2.00 and a beta of 1.49. Fortune Brands Innovations has a 52-week low of $47.21 and a 52-week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.66 EPS for the quarter, meeting the consensus estimate of $0.66. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.83 EPS. Equities research analysts predict that Fortune Brands Innovations will post 4.24 earnings per share for the current year.

Insider Buying and Selling at Fortune Brands Innovations

In other news, EVP Ron Wilson sold 1,500 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the sale, the executive vice president now directly owns 10,066 shares in the company, valued at approximately $693,950.04. The trade was a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kristin Papesh bought 483 shares of Fortune Brands Innovations stock in a transaction on Tuesday, March 4th. The shares were acquired at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the acquisition, the executive vice president now directly owns 7,617 shares in the company, valued at approximately $472,177.83. The trade was a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Fortune Brands Innovations

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vulcan Value Partners LLC lifted its stake in shares of Fortune Brands Innovations by 20.2% in the 1st quarter. Vulcan Value Partners LLC now owns 182,565 shares of the company’s stock valued at $11,115,000 after purchasing an additional 30,671 shares during the period. Blueshift Asset Management LLC boosted its position in shares of Fortune Brands Innovations by 68.0% during the first quarter. Blueshift Asset Management LLC now owns 5,812 shares of the company’s stock valued at $354,000 after buying an additional 2,352 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of Fortune Brands Innovations by 20.9% in the first quarter. Natixis Advisors LLC now owns 55,965 shares of the company’s stock valued at $3,408,000 after purchasing an additional 9,676 shares during the last quarter. XTX Topco Ltd purchased a new stake in Fortune Brands Innovations in the 1st quarter valued at about $419,000. Finally, Sheaff Brock Investment Advisors LLC lifted its holdings in Fortune Brands Innovations by 60.1% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 5,063 shares of the company’s stock worth $308,000 after acquiring an additional 1,900 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.

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.