Fortune Brands Innovations (NYSE:FBIN) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fortune Brands Innovations (NYSE:FBIN - Free Report) in a report published on Tuesday, MarketBeat Ratings reports. The firm issued a hold rating and a $70.00 price objective on the stock.

A number of other analysts have also recently weighed in on FBIN. UBS Group reduced their price objective on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Royal Bank of Canada cut their target price on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating for the company in a research report on Friday, February 7th. Barclays lowered their price target on Fortune Brands Innovations from $91.00 to $79.00 and set an "overweight" rating on the stock in a research report on Friday, February 7th. Finally, The Goldman Sachs Group dropped their price objective on Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $85.25.

Fortune Brands Innovations Stock Down 3.7 %

FBIN traded down $2.02 during midday trading on Tuesday, hitting $52.98. 3,720,161 shares of the company's stock traded hands, compared to its average volume of 1,321,834. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65. The company has a market cap of $6.49 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 2.00 and a beta of 1.53. The stock's fifty day simple moving average is $65.18 and its 200-day simple moving average is $74.23. Fortune Brands Innovations has a one year low of $50.61 and a one year high of $90.54.

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Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. As a group, equities analysts anticipate that Fortune Brands Innovations will post 4.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Ron Wilson sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the completion of the transaction, the executive vice president now owns 10,066 shares in the company, valued at $693,950.04. This trade represents a 12.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kristin Papesh purchased 483 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $61.99 per share, for a total transaction of $29,941.17. Following the purchase, the executive vice president now owns 7,617 shares in the company, valued at $472,177.83. This represents a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fortune Brands Innovations

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new position in Fortune Brands Innovations in the fourth quarter valued at about $101,122,000. Amundi increased its holdings in Fortune Brands Innovations by 166.8% during the 4th quarter. Amundi now owns 2,306,864 shares of the company's stock valued at $157,953,000 after purchasing an additional 1,442,195 shares in the last quarter. Wellington Management Group LLP increased its holdings in Fortune Brands Innovations by 63.0% during the 4th quarter. Wellington Management Group LLP now owns 2,870,673 shares of the company's stock valued at $196,153,000 after purchasing an additional 1,110,021 shares in the last quarter. Clearbridge Investments LLC bought a new position in Fortune Brands Innovations in the 4th quarter valued at $59,970,000. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Fortune Brands Innovations by 1,530.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 775,093 shares of the company's stock worth $52,962,000 after purchasing an additional 727,550 shares during the last quarter. 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.