Bank of America cut shares of Fortune Brands Innovations (NYSE:FBIN – Get Rating) from a neutral rating to an underperform rating in a research note published on Monday morning, MarketBeat Ratings reports. Bank of America currently has $60.00 target price on the stock, down from their previous target price of $61.00. The analysts noted that the move was a valuation call.
FBIN has been the subject of a number of other research reports. Zelman & Associates started coverage on Fortune Brands Innovations in a research report on Friday, December 16th. They set a hold rating for the company. Loop Capital upgraded Fortune Brands Innovations from a hold rating to a buy rating in a research report on Friday, December 16th. Credit Suisse Group lifted their price target on Fortune Brands Innovations from $47.00 to $48.00 and gave the stock a neutral rating in a research report on Monday, December 19th. Barclays initiated coverage on Fortune Brands Innovations in a research report on Wednesday, January 18th. They issued an overweight rating and a $75.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft lowered Fortune Brands Innovations from a buy rating to a hold rating and dropped their price target for the stock from $65.00 to $61.00 in a research report on Tuesday, January 10th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Fortune Brands Innovations currently has a consensus rating of Hold and a consensus target price of $62.29.
Get Fortune Brands Innovations alerts:Fortune Brands Innovations Stock Up 1.6 %
Shares of Fortune Brands Innovations stock opened at $67.15 on Monday. The stock has a market capitalization of $8.61 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 5.56 and a beta of 1.54. The firm's 50-day moving average price is $59.17. The company has a current ratio of 1.47, a quick ratio of 0.74 and a debt-to-equity ratio of 0.92. Fortune Brands Innovations has a twelve month low of $49.51 and a twelve month high of $94.01.
Fortune Brands Innovations Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Friday, February 24th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Thursday, February 23rd. Fortune Brands Innovations's payout ratio is currently 19.82%.Fortune Brands Innovations Company Profile
(Get Rating)
Fortune Brands Innovations, Inc manufactures and supplies home and security products and services. The company operates through the following segments: Cabinets, Plumbing, Outdoors & Security. The Cabinets segment manufactures custom, semi-custom, and stock cabinetry, as well as vanities, for the kitchen and bath.
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