Fortune Brands Innovations (NYSE:FBIN) Given New $79.00 Price Target at Loop Capital

Fortune Brands Innovations (NYSE:FBIN) had its price target lowered by analysts at Loop Capital from $82.00 to $79.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Loop Capital’s price target would indicate a potential upside of 12.89% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Evercore ISI decreased their price objective on Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating on the stock in a research report on Wednesday, May 1st. The Goldman Sachs Group decreased their price objective on Fortune Brands Innovations from $88.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday. Truist Financial decreased their price objective on Fortune Brands Innovations from $92.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Robert W. Baird upped their target price on Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $80.11.

Fortune Brands Innovations Price Performance

Shares of FBIN stock traded up $1.19 during trading hours on Friday, hitting $69.98. The stock had a trading volume of 28,413 shares, compared to its average volume of 1,156,741. Fortune Brands Innovations has a one year low of $54.10 and a one year high of $84.92. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.04 and a quick ratio of 1.08. The stock’s 50-day moving average price is $68.55 and its two-hundred day moving average price is $75.10. The stock has a market capitalization of $8.75 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 1.79 and a beta of 1.52.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Fortune Brands Innovations had a return on equity of 22.88% and a net margin of 8.87%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the business posted $0.69 earnings per share. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. Equities analysts forecast that Fortune Brands Innovations will post 4.29 EPS for the current year.

Institutional Trading of Fortune Brands Innovations

A number of hedge funds have recently bought and sold shares of FBIN. Tobam lifted its holdings in Fortune Brands Innovations by 1,181.5% during the fourth quarter. Tobam now owns 346 shares of the company’s stock worth $26,000 after buying an additional 319 shares during the period. Sound Income Strategies LLC purchased a new stake in Fortune Brands Innovations during the fourth quarter worth $27,000. Principal Securities Inc. purchased a new stake in Fortune Brands Innovations during the fourth quarter worth $29,000. LRI Investments LLC purchased a new stake in Fortune Brands Innovations during the first quarter worth $34,000. Finally, First United Bank & Trust purchased a new stake in Fortune Brands Innovations during the fourth quarter worth $38,000. 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.