Fortune Brands Innovations (NYSE:FBIN) Price Target Cut to $68.00 by Analysts at Barclays

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) had its price target decreased by Barclays from $79.00 to $68.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's target price indicates a potential upside of 31.52% from the stock's current price.

FBIN has been the topic of a number of other research reports. UBS Group dropped their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Royal Bank of Canada decreased 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 report on Friday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fortune Brands Innovations in a report on Tuesday, April 1st. They set a "hold" rating and a $70.00 price target on the stock. Finally, The Goldman Sachs Group decreased their price objective on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $84.33.

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Fortune Brands Innovations Stock Up 0.4 %

NYSE FBIN traded up $0.22 during trading hours on Tuesday, reaching $51.70. 3,610,461 shares of the company's stock traded hands, compared to its average volume of 1,380,698. Fortune Brands Innovations has a 52-week low of $47.21 and a 52-week high of $90.54. 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 firm has a 50-day simple moving average of $62.31 and a 200 day simple moving average of $72.52. The firm has a market cap of $6.27 billion, a PE ratio of 13.79, a PEG ratio of 2.00 and a beta of 1.42.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share (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 22.05%. Sell-side analysts anticipate that Fortune Brands Innovations will post 4.24 EPS for the current fiscal year.

Insider Activity

In related news, EVP Kristin Papesh purchased 483 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $61.99 per share, with a total value of $29,941.17. Following the completion of the acquisition, the executive vice president now owns 7,617 shares of the company's stock, valued at approximately $472,177.83. This trade represents a 6.77 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Ron Wilson sold 1,500 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.94, for a total value of $103,410.00. Following the completion of the transaction, the executive vice president now directly owns 10,066 shares in the company, valued at $693,950.04. This trade represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Fortune Brands Innovations

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC purchased a new position in Fortune Brands Innovations during the fourth quarter valued at approximately $31,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Fortune Brands Innovations during the 4th quarter valued at $55,000. IFP Advisors Inc boosted its holdings in 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 buying an additional 275 shares during the period. Siemens Fonds Invest GmbH bought a new position in Fortune Brands Innovations in the 4th quarter worth $76,000. Finally, New Age Alpha Advisors LLC purchased a new stake in Fortune Brands Innovations in the 4th quarter worth $82,000. 87.60% of the stock is owned by hedge funds and other institutional investors.

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.