Fortune Brands Innovations Inc (NYSE: FBIN) stock fell -1.73% on Monday to $66.08 against a previous-day closing price of $67.24. With 0.93 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.1 million shares. During the session, the Building Products & Equipment company that operates in wider Industrials sector, reached to the highest price of $67.01 whereas the lowest price it dropped to was $65.85. The 52-week range on FBIN shows that it touched its highest point at $77.14 and its lowest point at $49.51 during that stretch. It currently has a 1-year price target of $67.00. With its current market cap of 8.33 billion, FBIN has annualized dividend of $1.02 while the current yield stands at 1.54%. Beta for the stock currently stands at 1.58.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FBIN was up-trending over the past week, with a rise of 10.43%, but this was up by 15.04% over a month. Three-month performance surged to 0.43% while six-month performance rose 2.32%. The stock gained 20.95% in the past year, while it has gained 15.71% so far this year. A look at the trailing 12-month EPS for FBIN yields 3.38 with Next year EPS estimates of 4.18. For the next quarter, that number is 0.92. This implies an EPS growth rate of -8.58% for this year and 7.87% for next year. EPS is expected to grow by 7.53% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 11.51%.
Float and Shares Shorts:
At present, 128.04 million FBIN shares are outstanding with a float of 125.42 million shares on hand for trading. On Oct 30, 2023, short shares totaled 3.49 million, which was 2.77% higher than short shares on Sep 28, 2023. In addition to Mr. Nicholas Ian Fink as the firm’s CEO & Director, Ms. Cheri M. Phyfer serves as its Executive VP & Group President.
Through their ownership of 91.95% of FBIN’s outstanding shares, institutional investors have majority control over the company.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FBIN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With FBIN analysts setting a high price target of $79.00 and a low target of $56.00, the average target price over the next 12 months is $67.00. Based on these targets, FBIN could surge 19.55% to reach the target high and fall by -15.25% to reach the target low. Reaching the average price target will result in a growth of 1.39% from current levels.
Summary of Insider Activity:
Insiders traded FBIN stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 493 shares were bought while 415 shares were sold. The number of buy transactions has increased to 34 while that of sell transactions has risen to 30 over the past year. The total number of shares bought during that period was 504,044 while 133,251 shares were sold.