Fortune Brands Innovations (NYSE:FBIN) Price Target Cut to $90.00 by Analysts at UBS Group

Fortune Brands Innovations (NYSE:FBIN - Free Report) had its price target reduced by UBS Group from $93.00 to $90.00 in a research note released on Friday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other research analysts also recently issued reports on FBIN. Truist Financial upped their price target on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Evercore ISI lowered their target price on Fortune Brands Innovations from $80.00 to $78.00 and set an "in-line" rating for the company in a report on Thursday, November 7th. The Goldman Sachs Group cut their price target on Fortune Brands Innovations from $97.00 to $85.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Barclays lowered their price objective on Fortune Brands Innovations from $100.00 to $91.00 and set an "overweight" rating for the company in a research note on Thursday, January 16th. Finally, BMO Capital Markets lifted their target price on shares of 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. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Fortune Brands Innovations presently has a consensus rating of "Hold" and a consensus price target of $86.64.

Fortune Brands Innovations Price Performance

NYSE:FBIN traded up $0.66 during trading hours on Friday, hitting $69.21. The company's stock had a trading volume of 1,280,039 shares, compared to its average volume of 1,557,323. Fortune Brands Innovations has a twelve month low of $62.54 and a twelve month high of $90.54. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.32 and a quick ratio of 0.69. The stock has a fifty day simple moving average of $72.12 and a 200-day simple moving average of $78.10. The company has a market capitalization of $8.60 billion, a P/E ratio of 18.42, a PEG ratio of 2.01 and a beta of 1.50.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.98 earnings per share for the quarter, missing analysts' consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a net margin of 10.24% and a return on equity of 22.25%. On average, analysts anticipate that Fortune Brands Innovations will post 4.53 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.00 dividend on an annualized basis and a yield of 1.44%. This is a boost from Fortune Brands Innovations's previous quarterly dividend of $0.24. Fortune Brands Innovations's dividend payout ratio is 25.60%.

Hedge Funds Weigh In On Fortune Brands Innovations

Institutional investors have recently added to or reduced their stakes in the business. Brooklyn Investment Group acquired a new position in shares of Fortune Brands Innovations during the 3rd quarter valued at $25,000. Flagship Wealth Advisors LLC bought a new stake in Fortune Brands Innovations in the fourth quarter valued at $31,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Fortune Brands Innovations during the fourth quarter valued at about $55,000. IFP Advisors Inc boosted its position in shares of Fortune Brands Innovations by 47.6% during the 4th quarter. IFP Advisors Inc now owns 853 shares of the company's stock worth $62,000 after purchasing an additional 275 shares in the last quarter. Finally, Raleigh Capital Management Inc. grew its stake in shares of Fortune Brands Innovations by 31.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 897 shares of the company's stock valued at $80,000 after buying an additional 216 shares during the period. 87.60% of the stock is owned by institutional investors and hedge funds.

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.