Robert W. Baird Lowers Fortune Brands Innovations (NYSE:FBIN) Price Target to $90.00

Fortune Brands Innovations (NYSE:FBIN - Free Report) had its target price lowered by Robert W. Baird from $94.00 to $90.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other analysts also recently weighed in on the company. Royal Bank of Canada upped their price target 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. Truist Financial raised their price objective on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the company a "buy" rating in a research note on Thursday. UBS Group reduced their price target on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a "buy" rating for the company in a research report on Thursday. JPMorgan Chase & Co. upped their price objective 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, Barclays lifted their target price on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, October 9th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $91.36.

Fortune Brands Innovations Stock Down 6.1 %

Shares of NYSE FBIN traded down $5.16 during mid-day trading on Thursday, hitting $79.12. 2,843,790 shares of the stock traded hands, compared to its average volume of 1,184,639. The company 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 stock has a fifty day moving average price of $84.99 and a 200-day moving average price of $76.26. Fortune Brands Innovations has a 52 week low of $59.72 and a 52 week 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.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $1.24 billion. During the same period in the prior year, the firm earned $1.19 EPS. The company's revenue was down 8.4% compared to the same quarter last year. Research analysts anticipate that Fortune Brands Innovations will post 4.29 EPS for the current year.

Fortune Brands Innovations Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Friday, November 22nd. Fortune Brands Innovations's dividend payout ratio is presently 27.20%.

Institutional Investors Weigh In On Fortune Brands Innovations

A number of institutional investors have recently bought and sold shares of FBIN. Family Firm Inc. purchased a new stake in shares of Fortune Brands Innovations during the second quarter worth about $31,000. LRI Investments LLC purchased a new stake in shares of Fortune Brands Innovations in the first quarter worth about $34,000. Brown Brothers Harriman & Co. boosted its stake in Fortune Brands Innovations by 526.5% during the second quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company's stock valued at $34,000 after buying an additional 437 shares during the last quarter. Pathway Financial Advisers LLC purchased a new position in Fortune Brands Innovations during the 1st quarter valued at approximately $51,000. Finally, Rothschild Investment LLC purchased a new stake in shares of Fortune Brands Innovations during the 2nd quarter worth approximately $54,000. Hedge funds and other institutional investors own 87.60% of the company's stock.

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.