Fortune Brands Innovations (NYSE:FBIN) Price Target Raised to $95.00 at BMO Capital Markets

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) had its target price raised by stock analysts at BMO Capital Markets from $84.00 to $95.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a "market perform" rating on the stock. BMO Capital Markets' price target points to a potential upside of 8.65% from the company's previous close.

A number of other research firms have also commented on FBIN. Jefferies Financial Group raised their price objective on Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised their price objective on Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 30th. Royal Bank of Canada raised their price objective on Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a "sector perform" rating in a research note on Friday, July 26th. Barclays lifted their price target on Fortune Brands Innovations from $86.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, October 9th. Finally, Robert W. Baird lifted their price target on Fortune Brands Innovations from $82.00 to $94.00 and gave the company a "neutral" rating in a research note on Monday. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $90.20.

Fortune Brands Innovations Stock Performance

NYSE:FBIN traded down $0.71 during mid-day trading on Tuesday, hitting $87.44. 973,406 shares of the stock were exchanged, compared to its average volume of 1,174,730. The stock has a market capitalization of $10.94 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 2.79 and a beta of 1.51. The firm's 50-day simple moving average is $83.25 and its 200 day simple moving average is $75.57. 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 has a fifty-two week low of $54.10 and a fifty-two week high of $90.54.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.04. The business had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.28 billion. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The firm's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the firm posted $1.07 EPS. As a group, equities analysts anticipate that Fortune Brands Innovations will post 4.29 EPS for the current fiscal year.

Institutional Trading of Fortune Brands Innovations

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FBIN. Family Firm Inc. bought a new stake in Fortune Brands Innovations during the 2nd quarter worth approximately $31,000. LRI Investments LLC bought a new stake in Fortune Brands Innovations during the 1st quarter worth approximately $34,000. Brown Brothers Harriman & Co. increased its holdings in Fortune Brands Innovations by 526.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company's stock worth $34,000 after purchasing an additional 437 shares in the last quarter. Pathway Financial Advisers LLC bought a new stake in Fortune Brands Innovations during the 1st quarter worth approximately $51,000. Finally, Rothschild Investment LLC bought a new stake in Fortune Brands Innovations during the 2nd quarter worth approximately $54,000. 87.60% of the stock is owned by 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.