Barclays Lowers Fortune Brands Innovations (NYSE:FBIN) Price Target to $91.00

Fortune Brands Innovations (NYSE:FBIN) had its price target dropped by research analysts at Barclays from $100.00 to $91.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 21.72% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Jefferies Financial Group lifted their target price on shares of Fortune Brands Innovations from $100.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Truist Financial upped their price objective on shares of Fortune Brands Innovations from $82.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Robert W. Baird decreased their price target on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. BMO Capital Markets upped their target price on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Finally, UBS Group dropped their target price on shares of Fortune Brands Innovations from $98.00 to $97.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $89.36.

Fortune Brands Innovations Price Performance

Fortune Brands Innovations stock opened at $74.76 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.69 and a current ratio of 1.32. Fortune Brands Innovations has a 52 week low of $62.54 and a 52 week high of $90.54. The stock has a market capitalization of $9.29 billion, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 2.05 and a beta of 1.49. The stock has a fifty day moving average of $73.72 and a 200-day moving average of $77.62.

Fortune Brands Innovations (NYSE:FBIN) last posted its quarterly earnings results 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. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.24 billion. Fortune Brands Innovations had a net margin of 9.61% and a return on equity of 22.22%. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period last year, the company posted $1.19 EPS. On average, sell-side analysts expect that Fortune Brands Innovations will post 4.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FBIN. Brooklyn Investment Group bought a new stake in shares of Fortune Brands Innovations during the 3rd quarter worth $25,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Fortune Brands Innovations by 526.5% during 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 during the last quarter. Quarry LP boosted its stake in Fortune Brands Innovations by 3,069.0% in the second quarter. Quarry LP now owns 919 shares of the company’s stock worth $60,000 after buying an additional 890 shares in the last quarter. Raleigh Capital Management Inc. grew its position in 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 acquiring an additional 216 shares during the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in shares of Fortune Brands Innovations in the 3rd quarter worth approximately $81,000. 87.60% of the stock is 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.