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

Fortune Brands Innovations (NYSE:FBIN) had its price target decreased by equities research analysts at Robert W. Baird from $94.00 to $90.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 13.38% from the company’s previous close.

Other research analysts have also issued research reports about the company. BMO Capital Markets lifted their target price on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Barclays raised their price objective on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upped their target price on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. The Goldman Sachs Group increased their target price on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Evercore ISI reduced their price target on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday. Seven 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 company currently has a consensus rating of “Hold” and an average target price of $91.36.

Fortune Brands Innovations Stock Performance

Shares of FBIN traded down $4.90 during trading hours on Thursday, hitting $79.38. The company’s stock had a trading volume of 1,244,416 shares, compared to its average volume of 1,177,234. The business has a 50 day simple moving average of $84.99 and a two-hundred day simple moving average 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 current ratio of 1.34 and a quick ratio of 0.71. The company has a market cap of $9.85 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 2.65 and a beta of 1.51.

Fortune Brands Innovations (NYSE:FBIN) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.16 earnings per share for the quarter, beating 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 business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the business earned $1.19 EPS. Fortune Brands Innovations’s revenue was down 8.4% compared to the same quarter last year. On average, equities analysts expect that Fortune Brands Innovations will post 4.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Van ECK Associates Corp grew its holdings in shares of Fortune Brands Innovations by 1,074.0% in the second quarter. Van ECK Associates Corp now owns 37,367 shares of the company’s stock worth $2,426,000 after purchasing an additional 34,184 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Fortune Brands Innovations by 17.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 60,353 shares of the company’s stock worth $5,052,000 after acquiring an additional 8,836 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in shares of Fortune Brands Innovations in the first quarter valued at about $624,000. Qsemble Capital Management LP raised its stake in shares of Fortune Brands Innovations by 1,091.8% during the second quarter. Qsemble Capital Management LP now owns 28,459 shares of the company’s stock valued at $1,848,000 after acquiring an additional 26,071 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in shares of Fortune Brands Innovations during the second quarter worth about $421,000. 87.60% of the stock is owned by hedge funds and other 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.