Evercore ISI Lowers Fortune Brands Innovations (NYSE:FBIN) Price Target to $78.00

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) had its target price lowered by equities research analysts at Evercore ISI from $80.00 to $78.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an "in-line" rating on the stock. Evercore ISI's price objective points to a potential downside of 1.42% from the company's previous close.

A number of other research firms have also recently issued reports on FBIN. Robert W. Baird lifted their price objective on Fortune Brands Innovations from $82.00 to $94.00 and gave the company a "neutral" rating in a research report on Monday, October 21st. The Goldman Sachs Group lifted their price objective on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. BMO Capital Markets boosted their price target on Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 22nd. Jefferies Financial Group boosted their price target on Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Finally, Barclays boosted their price target on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 9th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Fortune Brands Innovations currently has an average rating of "Hold" and an average price target of $91.36.

Fortune Brands Innovations Stock Down 6.1 %

Shares of FBIN stock traded down $5.16 on Thursday, reaching $79.12. 2,843,790 shares of the company's stock traded hands, compared to its average volume of 1,184,638. Fortune Brands Innovations has a 12-month low of $59.72 and a 12-month high of $90.54. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34. The company has a market capitalization of $9.82 billion, a P/E ratio of 22.43, a price-to-earnings-growth ratio of 2.65 and a beta of 1.51. The business's 50 day moving average price is $84.99 and its two-hundred day moving average price is $76.26.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.01. The firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The business's revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.19 earnings per share. On average, equities analysts forecast that Fortune Brands Innovations will post 4.29 earnings per share for the current year.

Hedge Funds Weigh In On Fortune Brands Innovations

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norden Group LLC bought a new stake in shares of Fortune Brands Innovations in the 1st quarter valued at approximately $236,000. Private Advisor Group LLC grew its stake in shares of Fortune Brands Innovations by 25.4% in the 1st quarter. Private Advisor Group LLC now owns 8,100 shares of the company's stock valued at $686,000 after purchasing an additional 1,643 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Fortune Brands Innovations by 1.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,989 shares of the company's stock valued at $1,439,000 after purchasing an additional 229 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Fortune Brands Innovations by 3.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 8,200 shares of the company's stock valued at $694,000 after purchasing an additional 300 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Fortune Brands Innovations by 152.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,693 shares of the company's stock valued at $567,000 after purchasing an additional 4,042 shares during the period. 87.60% of the stock is currently owned by institutional investors.

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.