Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives $89.36 Average Price Target from Brokerages

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN) have earned a consensus recommendation of “Hold” from the eleven ratings firms that are covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $86.64.

A number of brokerages recently weighed in on FBIN. Truist Financial boosted 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 cut their price target on shares of Fortune Brands Innovations from $80.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. BMO Capital Markets boosted their price target on shares of Fortune Brands Innovations from $84.00 to $95.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Barclays cut their price target on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday. Finally, UBS Group cut their price target on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating on the stock in a report on Friday.

Institutional Investors Weigh In On Fortune Brands Innovations

Several hedge funds and other institutional investors have recently modified their holdings of FBIN. Brooklyn Investment Group bought a new stake in shares of Fortune Brands Innovations during the third quarter valued at about $25,000. Flagship Wealth Advisors LLC bought a new stake in shares of Fortune Brands Innovations during the fourth quarter valued at about $31,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Fortune Brands Innovations during the fourth quarter valued at about $55,000. IFP Advisors Inc increased its position in shares of Fortune Brands Innovations by 47.6% during the fourth quarter. IFP Advisors Inc now owns 853 shares of the company’s stock valued at $62,000 after buying an additional 275 shares during the period. Finally, Raleigh Capital Management Inc. increased its position in shares of Fortune Brands Innovations by 31.7% during the third 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 currently owned by institutional investors.

Fortune Brands Innovations Stock Performance

NYSE FBIN opened at $68.59 on Thursday. Fortune Brands Innovations has a 1 year low of $62.54 and a 1 year 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 firm has a market cap of $8.52 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 2.01 and a beta of 1.50. The company has a fifty day moving average price of $72.12 and a 200-day moving average price of $78.10.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.25% and a net margin of 10.24%. As a group, equities research analysts predict that Fortune Brands Innovations will post 4.53 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, February 21st. This is an increase from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.46%. Fortune Brands Innovations’s dividend payout ratio is 25.60%.

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.