BMO Capital Markets Increases Fortune Brands Innovations (NYSE:FBIN) Price Target to $95.00

Fortune Brands Innovations (NYSE:FBIN) had its price objective increased by investment analysts at BMO Capital Markets from $84.00 to $95.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 9.62% from the company’s current price.

FBIN has been the subject of several other reports. The Goldman Sachs Group upped their price target on shares of Fortune Brands Innovations from $86.00 to $98.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Truist Financial lifted their price target on Fortune Brands Innovations from $75.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Royal Bank of Canada upped their price objective on Fortune Brands Innovations from $79.00 to $81.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. 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. Finally, Loop Capital decreased their price target on shares of Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Fortune Brands Innovations presently has a consensus rating of “Hold” and a consensus target price of $90.20.

Fortune Brands Innovations Price Performance

Shares of FBIN stock opened at $86.66 on Tuesday. Fortune Brands Innovations has a twelve month low of $54.10 and a twelve month high of $90.54. 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 business has a fifty day simple moving average of $83.52 and a 200 day simple moving average of $75.61. The company has a market cap of $10.84 billion, a P/E ratio of 26.50, a P/E/G ratio of 2.79 and a beta of 1.51.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Family Firm Inc. bought a new stake in Fortune Brands Innovations in the second quarter worth approximately $31,000. LRI Investments LLC bought a new stake in shares of Fortune Brands Innovations in the 1st quarter valued at $34,000. Brown Brothers Harriman & Co. lifted its position 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 valued at $34,000 after acquiring an additional 437 shares during the period. Pathway Financial Advisers LLC bought a new position in Fortune Brands Innovations during the first quarter worth $51,000. Finally, Rothschild Investment LLC acquired a new stake in Fortune Brands Innovations in the second quarter worth $54,000. 87.60% of the stock is owned by institutional investors and hedge funds.

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.