Barclays Boosts Fortune Brands Innovations (NYSE:FBIN) Price Target to $100.00

Fortune Brands Innovations (NYSE:FBIN) had its price target hoisted by research analysts at Barclays from $86.00 to $100.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 13.87% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on FBIN. The Goldman Sachs Group raised their price objective on Fortune Brands Innovations from $86.00 to $98.00 and gave the company a “buy” rating in a report on Tuesday. Royal Bank of Canada increased their price target on shares of Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Loop Capital lowered their price objective on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a report on Friday, July 12th. Truist Financial increased their target price on shares of Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Fortune Brands Innovations from $82.00 to $84.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $85.80.

Fortune Brands Innovations Price Performance

Shares of NYSE:FBIN traded up $0.62 during trading on Wednesday, reaching $87.82. The company had a trading volume of 57,082 shares, compared to its average volume of 1,190,976. The company has a fifty day moving average of $80.76 and a two-hundred day moving average of $75.19. The company has a current ratio of 1.34, a quick ratio of 0.71 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $10.98 billion, a P/E ratio of 26.86, a price-to-earnings-growth 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 announced its earnings results on Thursday, July 25th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.04. Fortune Brands Innovations had a net margin of 9.39% and a return on equity of 22.93%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the business earned $1.07 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. Equities research analysts forecast that Fortune Brands Innovations will post 4.29 earnings per share for the current year.

Institutional Trading of Fortune Brands Innovations

Large investors have recently modified their holdings of the business. Family Firm Inc. purchased a new stake in Fortune Brands Innovations in the 2nd quarter worth approximately $31,000. LRI Investments LLC purchased a new stake in Fortune Brands Innovations in the first quarter worth $34,000. Brown Brothers Harriman & Co. lifted its stake in Fortune Brands Innovations by 526.5% in the second 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 period. Rise Advisors LLC bought a new stake in Fortune Brands Innovations in the first quarter valued at $38,000. Finally, Optimum Investment Advisors purchased a new position in Fortune Brands Innovations during the 1st quarter valued at $42,000. 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.