Masonite International Corp. (DOOR) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Masonite International Corp. (NYSE:DOOR) from a hold rating to a buy rating in a research report released on Wednesday morning. The brokerage currently has $67.00 price target on the stock.
According to Zacks, “Masonite International Corp. is a designer and manufacturer of interior and exterior doors. It offers residential molded, flush, stile and rail, louvre and specially-ordered commercial and architectural doors and exterior residential steel, fiberglass, wood doors and entry systems. The company’s portfolio of brands consist of Masonite(R), Marshfield(R), Premdor(R), Mohawk(R), Megantic(R), Algoma(R), Baillargeon(R), Birchwood Best(R) and Lemieux(R). It markets and sells product to remodeling contractors, builders, homeowners, retail dealers, lumberyards, commercial and general contractors and architects through wholesale and retail distribution channels. Masonite International Corp. is headquartered in Florida US. “
Several other equities analysts have also issued reports on the company. FBR & Co reiterated a buy rating and issued a $89.00 price objective on shares of Masonite International Corp. in a research report on Wednesday, August 17th. TheStreet lowered Masonite International Corp. from a buy rating to a hold rating in a research report on Thursday, September 29th. Imperial Capital decreased their price objective on Masonite International Corp. from $82.50 to $80.00 and set an outperform rating for the company in a research report on Wednesday, July 6th. Wedbush reiterated an outperform rating and issued a $72.00 price objective (down from $74.00) on shares of Masonite International Corp. in a research report on Wednesday, June 29th. Finally, Royal Bank Of Canada reiterated a buy rating on shares of Masonite International Corp. in a research report on Tuesday, July 12th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $77.38.
Masonite International Corp. (NYSE:DOOR) traded down 1.10% during midday trading on Wednesday, hitting $59.25. 38,199 shares of the stock traded hands. The firm has a market cap of $1.81 billion, a P/E ratio of 84.28 and a beta of 1.05. The company has a 50-day moving average price of $64.31 and a 200-day moving average price of $67.36. Masonite International Corp. has a 1-year low of $45.14 and a 1-year high of $72.75.
Masonite International Corp. (NYSE:DOOR) last announced its quarterly earnings results on Wednesday, August 10th. The company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.14. The company earned $514 million during the quarter, compared to analysts’ expectations of $512.96 million. Masonite International Corp. had a return on equity of 12.97% and a net margin of 1.10%. Masonite International Corp.’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 EPS. Analysts predict that Masonite International Corp. will post $2.97 EPS for the current year.
In related news, insider Robert Edgar Lewis sold 1,500 shares of the firm’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $67.67, for a total value of $101,505.00. Following the transaction, the insider now owns 24,140 shares in the company, valued at $1,633,553.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.42% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its stake in Masonite International Corp. by 3.2% in the second quarter. Public Employees Retirement System of Ohio now owns 1,536 shares of the company’s stock valued at $102,000 after buying an additional 47 shares during the period. Pacad Investment Ltd. acquired a new stake in Masonite International Corp. during the second quarter valued at $106,000. Strs Ohio raised its stake in Masonite International Corp. by 17.6% in the second quarter. Strs Ohio now owns 2,000 shares of the company’s stock valued at $132,000 after buying an additional 300 shares during the period. BlackRock Inc. raised its stake in Masonite International Corp. by 105.7% in the first quarter. BlackRock Inc. now owns 2,220 shares of the company’s stock valued at $146,000 after buying an additional 1,141 shares during the period. Finally, Lorber David A acquired a new stake in Masonite International Corp. during the first quarter valued at $152,000. 99.93% of the stock is currently owned by institutional investors and hedge funds.
Masonite International Corp. Company Profile
Masonite International Corporation is designer and manufacturer of interior and exterior doors for the residential new construction; the residential repair, renovation and remodeling, and the non-residential building construction markets. The Company principally operates in North America; Europe, Asia and Latin America, and Africa.
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