The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Fortune Brands Innovations Inc shares valued at $1,245,768 were purchased by Sheri Grissom on Nov 12 ’24. At $76.89 per share, Sheri Grissom acquired 16,202 shares.
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Also, HACKETT ANN F sold 2,197 shares, netting a total of over 174,414 in proceeds. Following the sale of shares at $79.39 each, the insider now holds 34,815 shares.
Before that, HACKETT ANN F had added 2,197 shares to its account. In a trade valued at $177,781, the Director bought Fortune Brands Innovations Inc shares for $80.92 each.
As published in a research note from BMO Capital Markets on January 31, 2024, Fortune Brands Innovations Inc [FBIN] has been rated down from an Outperform to a Market perform and the price target has been revised to $82 from $76. Analysts at Oppenheimer started covering the stock with ‘”a Perform”‘ outlook in a report released in mid January. Earlier on April 28, 2023, Jefferies upgraded its rating. Their new recommendation was “a Buy” for FBIN stock which previously was a “a Hold”.
Analyzing FBIN Stock Performance
During the last five days, there has been a drop of approximately -0.20%. Over the course of the year, Fortune Brands Innovations Inc shares have dropped approximately -8.22%. Shares of the company reached a 52-week high of $90.54 on 10/01/24 and a 52-week low of $62.54 on 07/05/24. A 50-day SMA is recorded $79.11, while a 200-day SMA reached $76.78. Nevertheless, trading volume fell to 0.82 million shares from 0.41 million shares the previous day.
Support And Resistance Levels for Fortune Brands Innovations Inc (FBIN)
According to the 24-hour chart, there is a support level at 69.02, which, if violated, would cause prices to drop to 68.17. In the upper region, resistance lies at 70.38. The next price resistance is at 70.89. RSI (Relative Strength Index) is 29.45 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.01, which suggests the price will decrease in the coming days. Percent R is at 84.78%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
