Analysts’ Weekly Ratings Changes for Fortune Brands Innovations (FBIN)

Fortune Brands Innovations (NYSE: FBIN) has recently received a number of price target changes and ratings updates:

• 7/30/2024 – Fortune Brands Innovations had its price target raised by analysts at JPMorgan Chase & Co. from $82.00 to $84.00. They now have a “neutral” rating on the stock.
• 7/26/2024 – Fortune Brands Innovations had its price target raised by analysts at Royal Bank of Canada from $79.00 to $81.00. They now have a “sector perform” rating on the stock.
• 7/26/2024 – Fortune Brands Innovations had its price target raised by analysts at Barclays PLC from $84.00 to $86.00. They now have an “overweight” rating on the stock.
• 7/26/2024 – Fortune Brands Innovations had its price target raised by analysts at The Goldman Sachs Group, Inc. from $75.00 to $86.00. They now have a “buy” rating on the stock.
• 7/26/2024 – Fortune Brands Innovations had its price target raised by analysts at Truist Financial Co. from $75.00 to $82.00. They now have a “buy” rating on the stock.
• 7/12/2024 – Fortune Brands Innovations had its price target lowered by analysts at Barclays PLC from $90.00 to $84.00. They now have an “overweight” rating on the stock.
• 7/12/2024 – Fortune Brands Innovations had its price target lowered by analysts at Loop Capital from $82.00 to $79.00. They now have a “hold” rating on the stock.
• 7/10/2024 – Fortune Brands Innovations had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $88.00 to $75.00. They now have a “buy” rating on the stock.
• 7/10/2024 – Fortune Brands Innovations had its price target lowered by analysts at Truist Financial Co. from $92.00 to $75.00. They now have a “buy” rating on the stock.

Fortune Brands Innovations Stock Down 3.2 %

Shares of NYSE:FBIN traded down $2.53 during trading on Friday, reaching $76.59. 1,493,516 shares of the stock traded hands, compared to its average volume of 1,234,165. The stock has a market cap of $9.51 billion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 2.55 and a beta of 1.52. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.71 and a current ratio of 1.34. The stock has a 50-day moving average of $68.95 and a two-hundred day moving average of $74.89. Fortune Brands Innovations, Inc. has a 52-week low of $54.10 and a 52-week high of $84.92.

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, topping the consensus estimate of $1.12 by $0.04. Fortune Brands Innovations had a return on equity of 22.93% and a net margin of 9.39%. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the business earned $1.07 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. As a group, sell-side analysts expect that Fortune Brands Innovations, Inc. will post 4.28 earnings per share for the current fiscal year.

Fortune Brands Innovations Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Friday, August 23rd will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $0.96 annualized dividend and a dividend yield of 1.25%. Fortune Brands Innovations’s payout ratio is 29.36%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. increased its stake in shares of Fortune Brands Innovations by 1.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 25,686 shares of the company’s stock worth $1,956,000 after purchasing an additional 395 shares in the last quarter. Blue Trust Inc. grew its holdings in Fortune Brands Innovations by 34.5% during the fourth quarter. Blue Trust Inc. now owns 873 shares of the company’s stock valued at $66,000 after purchasing an additional 224 shares during the period. Oak Thistle LLC raised its stake in shares of Fortune Brands Innovations by 5.8% in the fourth quarter. Oak Thistle LLC now owns 7,201 shares of the company’s stock worth $548,000 after buying an additional 394 shares during the period. State of Michigan Retirement System raised its stake in shares of Fortune Brands Innovations by 3.0% in the fourth quarter. State of Michigan Retirement System now owns 34,142 shares of the company’s stock worth $2,600,000 after buying an additional 1,000 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of Fortune Brands Innovations by 0.9% during the 4th quarter. Arizona State Retirement System now owns 34,875 shares of the company’s stock valued at $2,655,000 after buying an additional 305 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

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.