Fortune Brands Innovations, Inc. (NYSE:FBIN) Given Average Rating of “Hold” by Brokerages

Fortune Brands Innovations, Inc. (NYSE:FBIN) has been assigned an average rating of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $86.64.

A number of equities analysts have issued reports on the company. The Goldman Sachs Group decreased their price objective 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. Barclays lowered their price target on shares of Fortune Brands Innovations from $91.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Royal Bank of Canada cut their price objective on shares of Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Finally, UBS Group lowered their target price on shares of Fortune Brands Innovations from $93.00 to $90.00 and set a “buy” rating for the company in a report on Friday, February 7th.

Fortune Brands Innovations Price Performance

Shares of NYSE FBIN opened at $62.77 on Friday. Fortune Brands Innovations has a 1 year low of $59.64 and a 1 year high of $90.54. The stock has a market capitalization of $7.69 billion, a P/E ratio of 16.74, a P/E/G ratio of 2.00 and a beta of 1.53. The company’s 50-day moving average is $66.98 and its 200 day moving average is $75.16. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.25 and a quick ratio of 0.65.

Fortune Brands Innovations (NYSE:FBIN) last posted its earnings results on Thursday, February 6th. The company reported $0.98 earnings per share 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%. On average, sell-side analysts expect that Fortune Brands Innovations will post 4.24 earnings per share for the current year.

Insider Buying and Selling at Fortune Brands Innovations

In other Fortune Brands Innovations news, EVP Ron Wilson sold 1,500 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were 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 represents a 12.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kristin Papesh purchased 483 shares of Fortune Brands Innovations stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $61.99 per share, with a total value of $29,941.17. Following the completion of the purchase, the executive vice president now directly owns 7,617 shares of the company’s stock, valued at approximately $472,177.83. This trade represents a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Fortune Brands Innovations

Hedge funds have recently added to or reduced their stakes in the stock. U.S. Capital Wealth Advisors LLC grew its holdings in shares of Fortune Brands Innovations by 1.7% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,138 shares of the company’s stock worth $556,000 after acquiring an additional 138 shares during the period. Atria Wealth Solutions Inc. boosted its position in Fortune Brands Innovations by 5.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 3,252 shares of the company’s stock worth $222,000 after purchasing an additional 156 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Fortune Brands Innovations by 11.2% during the 4th quarter. UMB Bank n.a. now owns 1,688 shares of the company’s stock valued at $115,000 after purchasing an additional 170 shares during the period. Capital Investment Advisors LLC increased its position in shares of Fortune Brands Innovations by 6.6% during the 4th quarter. Capital Investment Advisors LLC now owns 3,049 shares of the company’s stock valued at $208,000 after purchasing an additional 190 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of Fortune Brands Innovations by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 3,810 shares of the company’s stock worth $260,000 after purchasing an additional 201 shares during the period. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

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.