Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) shares reached a new 52-week low on Monday . The stock traded as low as $59.58 and last traded at $60.25, with a volume of 53541 shares traded. The stock had previously closed at $60.82.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the company. Royal Bank of Canada lowered their price objective on Fortune Brands Innovations from $75.00 to $70.00 and set a "sector perform" rating on the stock in a report on Friday, February 7th. UBS Group lowered their price target on 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. Barclays reduced their price objective on Fortune Brands Innovations from $91.00 to $79.00 and set an "overweight" rating for the company in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on Fortune Brands Innovations in a report on Tuesday. They issued a "hold" rating and a $70.00 price objective on the stock. Finally, The Goldman Sachs Group dropped their target price 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 investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $85.25.
Get Our Latest Stock Analysis on FBIN
Fortune Brands Innovations Trading Down 3.7 %
The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90. The firm has a market cap of $6.49 billion, a PE ratio of 14.13, a P/E/G ratio of 2.00 and a beta of 1.53. The business has a fifty day moving average price of $65.57 and a 200 day moving average price of $74.45.
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 net margin of 10.24% and a return on equity of 22.05%. Analysts forecast that Fortune Brands Innovations, Inc. will post 4.24 EPS for the current year.
Insider Activity at Fortune Brands Innovations
In other news, EVP Kristin Papesh bought 483 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ron Wilson sold 1,500 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $68.94, for a total value of $103,410.00. Following the completion of the sale, the executive vice president now directly owns 10,066 shares of the company's stock, valued at approximately $693,950.04. This trade represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Fortune Brands Innovations
A number of hedge funds have recently modified their holdings of the business. Flagship Wealth Advisors LLC acquired a new stake in Fortune Brands Innovations during the 4th quarter worth $31,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Fortune Brands Innovations in the fourth quarter valued at about $55,000. IFP Advisors Inc boosted its stake in shares of Fortune Brands Innovations by 47.6% during 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 period. Siemens Fonds Invest GmbH purchased a new position in shares of Fortune Brands Innovations during the fourth quarter worth about $76,000. Finally, New Age Alpha Advisors LLC acquired a new position in Fortune Brands Innovations in the 4th quarter valued at about $82,000. 87.60% of the stock is currently owned by hedge funds and other institutional investors.
Fortune Brands Innovations Company Profile
(
Get Free Report)
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.
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