Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives Average Recommendation of “Hold” from Analysts

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have been assigned an average recommendation of “Hold” from the twelve ratings firms that are covering the company, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $91.36.

Several research analysts have issued reports on the company. Barclays increased their price objective on Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group raised their price objective on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Evercore ISI lowered their target price on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. 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, November 7th. Finally, BMO Capital Markets boosted their price target on Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd.

Hedge Funds Weigh In On Fortune Brands Innovations

Several institutional investors have recently added to or reduced their stakes in the business. Brooklyn Investment Group acquired a new stake in shares of Fortune Brands Innovations in the third quarter worth approximately $25,000. Family Firm Inc. acquired a new position in shares of Fortune Brands Innovations in the 2nd quarter valued at $31,000. Brown Brothers Harriman & Co. grew its stake in shares of Fortune Brands Innovations by 526.5% during the 2nd 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 period. Rothschild Investment LLC acquired a new stake in shares of Fortune Brands Innovations during the 2nd quarter worth $54,000. Finally, Raleigh Capital Management Inc. raised its position 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 worth $80,000 after buying an additional 216 shares during the period. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Fortune Brands Innovations Stock Up 0.3 %

Shares of NYSE:FBIN opened at $69.84 on Wednesday. Fortune Brands Innovations has a fifty-two week low of $62.54 and a fifty-two week high of $90.54. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95. The firm’s 50-day simple moving average is $79.28 and its 200-day simple moving average is $77.32. The company has a market cap of $8.68 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 2.51 and a beta of 1.47.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Wednesday, November 6th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.01. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Fortune Brands Innovations had a return on equity of 22.22% and a net margin of 9.61%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.19 EPS. As a group, equities research analysts predict that Fortune Brands Innovations will post 4.19 earnings per share for the current year.

Fortune Brands Innovations Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. Fortune Brands Innovations’s payout ratio is currently 28.17%.

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.