Fortune Brands Innovations (NYSE:FBIN) Price Target Lowered to $84.00 at Barclays

Fortune Brands Innovations (NYSE:FBIN) had its price target dropped by equities researchers at Barclays from $90.00 to $84.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 18.34% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Evercore ISI decreased their price target on shares of Fortune Brands Innovations from $79.00 to $78.00 and set an “in-line” rating on the stock in a research report on Wednesday, May 1st. Loop Capital decreased their target price on Fortune Brands Innovations from $82.00 to $79.00 and set a “hold” rating on the stock in a report on Friday. The Goldman Sachs Group reduced their target price on Fortune Brands Innovations from $88.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday. Truist Financial dropped their price target on Fortune Brands Innovations from $92.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Robert W. Baird upped their price objective on shares of Fortune Brands Innovations from $85.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Fortune Brands Innovations has a consensus rating of “Hold” and an average target price of $78.89.

Fortune Brands Innovations Price Performance

FBIN traded up $2.19 on Friday, reaching $70.98. The company had a trading volume of 550,131 shares, compared to its average volume of 1,160,664. The company has a fifty day moving average of $68.55 and a 200-day moving average of $75.10. The company has a market capitalization of $8.88 billion, a P/E ratio of 21.67, a PEG ratio of 1.79 and a beta of 1.52. Fortune Brands Innovations has a one year low of $54.10 and a one year high of $84.92. The company has a current ratio of 2.04, a quick ratio of 1.08 and a debt-to-equity ratio of 1.33.

Fortune Brands Innovations (NYSE:FBIN) last released its earnings results on Tuesday, April 30th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. Fortune Brands Innovations had a return on equity of 22.88% and a net margin of 8.87%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm posted $0.69 earnings per share. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Fortune Brands Innovations will post 4.29 earnings per share for the current year.

Hedge Funds Weigh In On Fortune Brands Innovations

Several institutional investors and hedge funds have recently made changes to their positions in FBIN. Tobam lifted its position in shares of Fortune Brands Innovations by 1,181.5% in the fourth quarter. Tobam now owns 346 shares of the company’s stock worth $26,000 after purchasing an additional 319 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in Fortune Brands Innovations during the 4th quarter valued at $27,000. Principal Securities Inc. bought a new position in Fortune Brands Innovations during the fourth quarter worth $29,000. LRI Investments LLC acquired a new position in shares of Fortune Brands Innovations in the first quarter valued at $34,000. Finally, Rise Advisors LLC bought a new position in shares of Fortune Brands Innovations in the first quarter valued at about $38,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

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.