Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives $89.36 Average Target Price from Brokerages

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) have been given a consensus rating of "Hold" by the eleven brokerages that are currently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $86.64.

Several research firms have commented on FBIN. BMO Capital Markets raised their price objective on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a "market perform" rating in a research report on Tuesday, October 22nd. Evercore ISI dropped their target price on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an "in-line" rating for the company in a research report on Thursday, November 7th. UBS Group reduced their price objective on Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday. The Goldman Sachs Group decreased their target price 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. Finally, Truist Financial increased their price objective on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a "buy" rating in a report on Thursday, November 7th.

Fortune Brands Innovations Trading Down 1.2 %

FBIN traded down $0.86 during trading on Thursday, hitting $68.20. The company's stock had a trading volume of 3,850,555 shares, compared to its average volume of 1,361,096. The firm's 50 day moving average price is $72.32 and its 200-day moving average price is $78.12. Fortune Brands Innovations has a twelve month low of $62.54 and a twelve month high of $90.54. The stock has a market cap of $8.47 billion, a PE ratio of 18.19, a PEG ratio of 2.01 and a beta of 1.50. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing analysts' consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.25%. On average, analysts expect that Fortune Brands Innovations will post 4.53 earnings per share for the current year.

Fortune Brands Innovations Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a $0.25 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.00 annualized dividend and a dividend yield of 1.47%. This is a boost from Fortune Brands Innovations's previous quarterly dividend of $0.24. Fortune Brands Innovations's dividend payout ratio is currently 25.60%.

Hedge Funds Weigh In On Fortune Brands Innovations

A number of institutional investors have recently bought and sold shares of the stock. Brooklyn Investment Group purchased a new position in Fortune Brands Innovations during the 3rd quarter worth approximately $25,000. Wingate Wealth Advisors Inc. bought a new position in shares of Fortune Brands Innovations during the 4th quarter valued at $55,000. IFP Advisors Inc lifted its position in shares of Fortune Brands Innovations by 47.6% in the fourth quarter. IFP Advisors Inc now owns 853 shares of the company's stock worth $62,000 after buying an additional 275 shares during the last quarter. Raleigh Capital Management Inc. boosted its position in Fortune Brands Innovations by 31.7% during the third quarter. Raleigh Capital Management Inc. now owns 897 shares of the company's stock worth $80,000 after purchasing an additional 216 shares during the period. Finally, Darwin Wealth Management LLC acquired a new position in Fortune Brands Innovations in the 3rd quarter valued at $81,000. Hedge funds and other institutional investors 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.