Fortune Brands Innovations (NYSE:FBIN) Price Target Lowered to $79.00 at Barclays

Fortune Brands Innovations (NYSE:FBIN) had its price target decreased by Barclays from $91.00 to $79.00 in a research note issued to investors on Friday,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other brokerages also recently weighed in on FBIN. UBS Group decreased 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 research note on Friday. Robert W. Baird reduced their price objective on Fortune Brands Innovations from $94.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Royal Bank of Canada dropped their target price on Fortune Brands Innovations from $75.00 to $70.00 and set a “sector perform” rating on the stock in a report on Friday. BMO Capital Markets raised their price target on Fortune Brands Innovations from $84.00 to $95.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group dropped their price target on shares of Fortune Brands Innovations from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Fortune Brands Innovations currently has an average rating of “Hold” and an average target price of $86.64.

Fortune Brands Innovations Price Performance

Shares of FBIN stock opened at $68.20 on Friday. The company has a quick ratio of 0.69, a current ratio of 1.32 and a debt-to-equity ratio of 0.95. The stock has a market cap of $8.47 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 2.09 and a beta of 1.50. The business’s fifty day moving average is $72.32 and its 200 day moving average is $78.01. Fortune Brands Innovations has a twelve month low of $62.54 and a twelve month high of $90.54.

Fortune Brands Innovations (NYSE:FBIN) last released 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 22.22% and a net margin of 9.61%. Research analysts expect that Fortune Brands Innovations will post 4.19 EPS for the current fiscal year.

Fortune Brands Innovations Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a $0.25 dividend. The ex-dividend date is Friday, February 21st. This is a positive change from Fortune Brands Innovations’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.47%. Fortune Brands Innovations’s payout ratio is currently 27.04%.

Institutional Investors Weigh In On Fortune Brands Innovations

Several institutional investors and hedge funds have recently added to or reduced their stakes in FBIN. FMR LLC raised its stake in Fortune Brands Innovations by 104.5% during the 3rd quarter. FMR LLC now owns 5,920,248 shares of the company’s stock valued at $530,040,000 after buying an additional 3,024,950 shares during the last quarter. Amundi increased its position in Fortune Brands Innovations by 166.8% during the fourth quarter. Amundi now owns 2,306,864 shares of the company’s stock valued at $157,953,000 after acquiring an additional 1,442,195 shares during the last quarter. Raymond James Financial Inc. bought a new position in Fortune Brands Innovations in the fourth quarter valued at about $40,027,000. Arvest Bank Trust Division purchased a new position in Fortune Brands Innovations in the third quarter worth about $17,621,000. Finally, Ceredex Value Advisors LLC bought a new stake in shares of Fortune Brands Innovations during the 3rd quarter valued at about $13,170,000. Hedge funds and other institutional investors 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.