Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) gapped down before the market opened on Thursday after Robert W. Baird lowered their price target on the stock from $94.00 to $90.00. The stock had previously closed at $84.28, but opened at $76.00. Robert W. Baird currently has a neutral rating on the stock. Fortune Brands Innovations shares last traded at $78.08, with a volume of 500,563 shares trading hands.
Other equities research analysts have also recently issued research reports about the company. UBS Group decreased their target price on Fortune Brands Innovations from $98.00 to $97.00 and set a "buy" rating for the company in a research report on Thursday. Barclays raised their target price on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, October 9th. Jefferies Financial Group boosted their target price on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. raised their price target on Fortune Brands Innovations from $82.00 to $84.00 and gave the company a "neutral" rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada boosted their price objective on Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a "sector perform" rating in a research report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $91.36.
Check Out Our Latest Stock Analysis on FBIN
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp raised its holdings in shares of Fortune Brands Innovations by 1,074.0% in the 2nd quarter. Van ECK Associates Corp now owns 37,367 shares of the company's stock worth $2,426,000 after buying an additional 34,184 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in Fortune Brands Innovations by 17.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 60,353 shares of the company's stock worth $5,052,000 after acquiring an additional 8,836 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of Fortune Brands Innovations during the first quarter valued at $624,000. Qsemble Capital Management LP boosted its stake in shares of Fortune Brands Innovations by 1,091.8% in the 2nd quarter. Qsemble Capital Management LP now owns 28,459 shares of the company's stock valued at $1,848,000 after purchasing an additional 26,071 shares in the last quarter. Finally, Duality Advisers LP bought a new stake in shares of Fortune Brands Innovations in the 1st quarter worth about $5,498,000. Institutional investors and hedge funds own 87.60% of the company's stock.
Fortune Brands Innovations Stock Down 6.1 %
The firm has a market cap of $9.82 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 2.65 and a beta of 1.51. The business's 50-day moving average is $84.99 and its 200-day moving average is $76.26. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34.
Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.01. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 22.93%. The firm had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.24 billion. During the same period in the prior year, the firm earned $1.19 earnings per share. The company's quarterly revenue was down 8.4% compared to the same quarter last year. On average, equities analysts predict that Fortune Brands Innovations, Inc. will post 4.29 EPS for the current year.
Fortune Brands Innovations Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.96 annualized dividend and a yield of 1.21%. Fortune Brands Innovations's payout ratio is 27.20%.
About Fortune Brands Innovations
(
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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