Jefferies Financial Group Boosts Fortune Brands Innovations (NYSE:FBIN) Price Target to $111.00

Fortune Brands Innovations (NYSE:FBIN) had its target price upped by analysts at Jefferies Financial Group from $100.00 to $111.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 25.64% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Royal Bank of Canada lifted their price target on Fortune Brands Innovations from $79.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Barclays boosted their price objective on shares of Fortune Brands Innovations from $86.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday. Truist Financial increased their price objective on Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. boosted their target price 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 dropped their price target on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a 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 company. According to MarketBeat.com, Fortune Brands Innovations presently has an average rating of “Hold” and an average target price of $88.10.

Fortune Brands Innovations Stock Up 1.3 %

Shares of NYSE:FBIN traded up $1.15 during midday trading on Wednesday, reaching $88.35. The company’s stock had a trading volume of 751,901 shares, compared to its average volume of 1,194,540. The company has a quick ratio of 0.71, a current ratio of 1.34 and a debt-to-equity ratio of 1.03. The firm has a 50 day moving average of $80.76 and a 200-day moving average of $75.19. The firm has a market capitalization of $11.05 billion, a P/E ratio of 27.02, a PEG ratio of 2.74 and a beta of 1.51. Fortune Brands Innovations has a 12-month low of $54.10 and a 12-month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Thursday, July 25th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.04. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.28 billion. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 22.93%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period last year, the business earned $1.07 earnings per share. On average, research analysts anticipate that Fortune Brands Innovations will post 4.29 earnings per share for the current year.

Institutional Trading of Fortune Brands Innovations

Several large investors have recently added to or reduced their stakes in the business. Family Firm Inc. purchased a new stake in Fortune Brands Innovations in the second quarter worth about $31,000. LRI Investments LLC bought a new position in shares of Fortune Brands Innovations during the 1st quarter valued at approximately $34,000. Brown Brothers Harriman & Co. increased its holdings in Fortune Brands Innovations by 526.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 520 shares of the company’s stock worth $34,000 after acquiring an additional 437 shares in the last quarter. Rise Advisors LLC bought a new stake in Fortune Brands Innovations during the 1st quarter worth approximately $38,000. Finally, Optimum Investment Advisors purchased a new position in Fortune Brands Innovations during the first quarter valued at approximately $42,000. 87.60% of the stock is currently owned by institutional investors.

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.