Barclays Issues Pessimistic Forecast for Fortune Brands Innovations (NYSE:FBIN) Stock Price

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) had its price objective dropped by stock analysts at Barclays from $91.00 to $79.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's price objective indicates a potential upside of 13.94% from the stock's current price.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada reduced their target price on Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating for the company in a report on Friday. Truist Financial upped their target price on Fortune Brands Innovations from $82.00 to $92.00 and gave the company a "buy" rating in a report on Thursday, November 7th. BMO Capital Markets upped their target price on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a "market perform" rating in a report on Tuesday, October 22nd. Robert W. Baird reduced their price objective on Fortune Brands Innovations from $94.00 to $90.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. Finally, Evercore ISI reduced their price objective on Fortune Brands Innovations from $80.00 to $78.00 and set an "in-line" rating for the company in a research note on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $86.64.

Fortune Brands Innovations Price Performance

Shares of Fortune Brands Innovations stock traded up $0.79 during trading on Friday, hitting $69.34. The stock had a trading volume of 2,016,044 shares, compared to its average volume of 1,586,313. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. The firm has a market cap of $8.61 billion, a P/E ratio of 18.49, a PEG ratio of 2.01 and a beta of 1.50. The business has a fifty day moving average of $72.12 and a two-hundred day moving average of $78.10. Fortune Brands Innovations has a fifty-two week low of $62.54 and a fifty-two week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its 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 net margin of 10.24% and a return on equity of 22.25%. On average, sell-side analysts expect that Fortune Brands Innovations will post 4.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Ron Wilson sold 1,500 shares of the 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 transaction, the executive vice president now owns 10,066 shares of the company's stock, valued at approximately $693,950.04. This represents a 12.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.20% of the company's stock.

Institutional Trading of Fortune Brands Innovations

Hedge funds have recently added to or reduced their stakes in the business. Brooklyn Investment Group bought a new stake in Fortune Brands Innovations during the 3rd quarter valued at approximately $25,000. Flagship Wealth Advisors LLC bought a new stake in shares of Fortune Brands Innovations in the 4th quarter worth approximately $31,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Fortune Brands Innovations in the 4th quarter worth approximately $55,000. IFP Advisors Inc lifted its position in shares of Fortune Brands Innovations by 47.6% in the 4th quarter. IFP Advisors Inc now owns 853 shares of the company's stock worth $62,000 after acquiring an additional 275 shares during the period. Finally, Raleigh Capital Management Inc. lifted its position in shares of Fortune Brands Innovations by 31.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 897 shares of the company's stock worth $80,000 after acquiring an additional 216 shares during the period. Institutional investors own 87.60% of the company's stock.

About Fortune Brands Innovations

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.