
FBIN Stock Forecast & Price Target
FBIN Analyst Ratings
Bulls say
Fortune Brands Innovations has demonstrated notable growth across its segments, with Outdoor Products sales increasing by 4% year-over-year, reflecting robust demand driven by the housing market. The security segment has also shown strong performance with a 12% rise in revenues, contributing positively to the company's overall revenue picture despite some organic growth challenges. Additionally, the water segment's operating margins maintained healthy levels, reaching 23.3%, which, combined with a projected growth rate of 3% for the Outdoor segment in 2024, underscores a solid financial outlook for the company.
Bears say
Fortune Brands Innovations faces a negative outlook primarily due to declining demand across its segments, with the US repair and remodel market witnessing a decrease of 3-4%, compounding existing challenges. The company's Water segment's sales growth forecast was adjusted down to 3.5% from 4%, while the Security segment’s growth projection for 2024 was notably reduced from 11% to 6%, reflecting persistent softness in the Master Lock business. Additionally, management expects total sales to decline by 2.5% year-over-year in the third quarter, with margins under pressure from this weakening demand, particularly exacerbated by adverse conditions in the Chinese market.
This aggregate rating is based on analysts' research of Fortune Brands Innovations Inc and is not a guaranteed prediction by Public.com or investment advice.
FBIN Analyst Forecast & Price Prediction
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