The stock of Fortune Brands Innovations Inc. (NYSE:FBIN) decreased by -$0.44 on Friday to finish at $71.79, down -0.61 percent. The last five days have seen an average of 775,140 shares of common stock traded. 22 times new highs were reached in the current year, with a gain of $14.68. The average number of shares traded over the last 20 days was 1,105,680, while the average volume over the last 50 days totaled 1,034,278.
FBIN stock dropped -3.79% since last month. On 08/03/23, the company’s shares reached a one-month low of $69.23. The stock touched a high of $77.14 on 07/27/23, after rallying from a low of $45.25 in 52 weeks. The price of FBIN stock has risen by 25.70% or $14.68 this year, reaching a new high 22 times. Still, the stock price is down -6.94% from the 52-week high.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Insider Transactions
FBIN stock investors should be aware that Fortune Brands Innovations Inc. (FBIN) stock had its last reported insider trading activity 66 days ago on Jun 09. On Jun 09, Director HACKETT ANN F sold 4,835 shares at $65.78 each. This transaction resulted in the insider making $318,059.
Valuation Metrics
Fortune Brands Innovations Inc. (FBIN) has a trailing price-to-earnings (P/E) ratio of 20.27. Beta for the stock is 1.53. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.02, the price-to-book (PB) ratio of 4.18.
Company paid $0.23 per share in dividends, remained unchanged from $0.23 last year.
Financial Health
For the three months ended June 29, Fortune Brands Innovations Inc.’s quick ratio was 0.90, while its current ratio was 1.50, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 1.23, and the total debt to equity ratio is 1.50. As far as profitability goes, gross margin for the trailing twelve months is 40.30% percent. Based on annual data, it had gross profit of $1.93 billion and revenue of $4.72 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. There was a 13.60% return on investment (ROI) in the past year.
Earnings Surprise
According to Fortune Brands Innovations Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.16 billion, while revenues fell by -81.4% to $1.04 billion. It was predicted that Fortune Brands Innovations Inc.’s quarterly earnings would be $1.07, but it ended up being $1.02, beating the consensus by 4.90%. EBITDA was $187.9 million for the quarter. At the end of Fortune Brands Innovations Inc.’s most recent quarter ended June 29, its liabilities totaled 4.7 billion, while its total debt was $3.36 billion. Equity owned by shareholders amounts to $126.89 million.
Technical Picture
Here’s a quick look at Fortune Brands Innovations Inc.’s (FBIN) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 49.78%, suggesting the stock is Neutral, with a 17.54% historical volatility rate.
The stochastic %K and %D were 35.40% and 33.05% respectively, while the average true range (ATR) was 1.66. Based on the 14-day stochastic reading of 32.36%, the RSI (14) reading is 51.45%. On the 9-day MACD Oscillator, the stock is at 0.65, and the 14-day reading is at -0.13.
Analyst Ratings
Analysts have assigned Fortune Brands Innovations Inc. (FBIN) an Overweight rating. FBIN is a stock that is recommended for selling by 0 brokerage firms, while 10 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 1 rate it overweight and 6 others recommend it as a buy.
What is FBIN’s price target for the next 12 months?
The current consensus forecast for the stock is between $66.00 and $91.00, with a median target price of $82.00. In analyzing these forecasts, the average price target given by analysts for Fortune Brands Innovations Inc. (FBIN) is $81.93.
