Fortune Brands Innovations (NYSE:FBIN) Price Target Raised to $92.00 at Truist Financial

Fortune Brands Innovations (NYSE:FBIN) had its target price raised by equities researchers at Truist Financial from $82.00 to $92.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 17.23% from the stock’s previous close.

FBIN has been the topic of several other research reports. Barclays lifted their target price on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Evercore ISI cut their target price on Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday. Royal Bank of Canada lifted their price target on Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. increased their price objective on Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Loop Capital decreased their target price on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $91.20.

Fortune Brands Innovations Stock Performance

Shares of NYSE:FBIN traded down $5.80 on Thursday, reaching $78.48. The company’s stock had a trading volume of 355,659 shares, compared to its average volume of 1,172,250. Fortune Brands Innovations has a 52-week low of $59.72 and a 52-week high of $90.54. The stock has a market capitalization of $9.74 billion, a P/E ratio of 24.08, a PEG ratio of 2.65 and a beta of 1.51. The stock’s 50-day moving average is $84.99 and its two-hundred day moving average is $76.26. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.34 and a quick ratio of 0.71.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.15 by $0.01. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the business earned $1.19 EPS. The firm’s revenue was down 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Fortune Brands Innovations will post 4.29 EPS for the current year.

Institutional Trading of Fortune Brands Innovations

Institutional investors and hedge funds have recently modified their holdings of the business. LRI Investments LLC purchased a new stake in Fortune Brands Innovations during the 1st quarter worth about $34,000. Family Firm Inc. acquired a new position in shares of Fortune Brands Innovations in the second quarter valued at approximately $31,000. Brown Brothers Harriman & Co. lifted its stake in shares of 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 period. Pathway Financial Advisers LLC acquired a new stake in Fortune Brands Innovations during the first quarter worth approximately $51,000. Finally, Rothschild Investment LLC purchased a new stake in Fortune Brands Innovations in the 2nd quarter worth approximately $54,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.

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.