Fortune Brands Innovations (NYSE:FBIN) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Analysts at Deutsche Bank Aktiengesellschaft began coverage on shares of Fortune Brands Innovations (NYSE:FBIN) in a research report issued on Tuesday. The firm set a “hold” rating and a $70.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 16.10% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on FBIN. Barclays dropped their price objective on Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. UBS Group dropped 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 research report on Friday, February 7th. Royal Bank of Canada lowered their price target on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Finally, The Goldman Sachs Group cut their price target on Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $85.25.

Fortune Brands Innovations Stock Down 1.0 %

Shares of FBIN stock traded down $0.59 during trading hours on Tuesday, hitting $60.29. 25,104 shares of the company were exchanged, compared to its average volume of 1,296,207. The company has a market capitalization of $7.39 billion, a PE ratio of 16.08, a PEG ratio of 2.00 and a beta of 1.53. Fortune Brands Innovations has a 52 week low of $59.58 and a 52 week high of $90.54. The business has a 50 day moving average of $66.43 and a two-hundred day moving average of $74.83. The company has a current ratio of 1.25, a quick ratio of 0.65 and a debt-to-equity ratio of 0.90.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Fortune Brands Innovations had a return on equity of 22.05% and a net margin of 10.24%. Analysts anticipate that Fortune Brands Innovations will post 4.24 earnings per share for the current fiscal year.

Insider Transactions at Fortune Brands Innovations

In other news, EVP Kristin Papesh bought 483 shares of the stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $61.99 per share, for a total transaction of $29,941.17. Following the completion of the acquisition, the executive vice president now directly owns 7,617 shares in the company, valued at approximately $472,177.83. This trade represents a 6.77 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ron Wilson sold 1,500 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $68.94, for a total transaction of $103,410.00. Following the transaction, the executive vice president now owns 10,066 shares in the company, valued at approximately $693,950.04. This trade represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Fortune Brands Innovations

Several hedge funds have recently modified their holdings of FBIN. Vanguard Group Inc. grew its holdings in shares of Fortune Brands Innovations by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 12,027,516 shares of the company’s stock valued at $821,840,000 after acquiring an additional 68,404 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Fortune Brands Innovations by 2.6% in the 4th quarter. JPMorgan Chase & Co. now owns 4,445,959 shares of the company’s stock worth $303,792,000 after acquiring an additional 114,391 shares during the last quarter. Wellington Management Group LLP raised its stake in Fortune Brands Innovations by 63.0% in the 4th quarter. Wellington Management Group LLP now owns 2,870,673 shares of the company’s stock valued at $196,153,000 after acquiring an additional 1,110,021 shares during the period. Amundi lifted its holdings in Fortune Brands Innovations by 166.8% during the fourth quarter. Amundi now owns 2,306,864 shares of the company’s stock valued at $157,953,000 after purchasing an additional 1,442,195 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Fortune Brands Innovations by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,924,181 shares of the company’s stock worth $131,481,000 after purchasing an additional 40,138 shares during the period. 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.