Masonite International Corp. (DOOR) Given Outperform Rating at Wedbush
Masonite International Corp. (NYSE:DOOR)‘s stock had its “outperform” rating restated by Wedbush in a research note issued on Wednesday. They currently have a $72.00 target price on the stock. Wedbush’s price target indicates a potential upside of 20.60% from the stock’s previous close.
DOOR has been the topic of a number of other research reports. TheStreet downgraded Masonite International Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, September 29th. Robert W. Baird reiterated a “buy” rating on shares of Masonite International Corp. in a research report on Wednesday, June 22nd. Zacks Investment Research upgraded Masonite International Corp. from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Wednesday, October 12th. Royal Bank Of Canada restated a “buy” rating on shares of Masonite International Corp. in a research report on Tuesday, July 12th. Finally, Imperial Capital decreased their target price on Masonite International Corp. from $82.50 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 6th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Masonite International Corp. presently has a consensus rating of “Buy” and an average price target of $76.86.
Masonite International Corp. (NYSE:DOOR) opened at 59.70 on Wednesday. The company has a market cap of $1.83 billion, a P/E ratio of 84.92 and a beta of 1.05. Masonite International Corp. has a 52-week low of $45.14 and a 52-week high of $72.75. The stock’s 50 day moving average price is $63.24 and its 200 day moving average price is $67.23.
Masonite International Corp. (NYSE:DOOR) last issued its quarterly earnings results on Wednesday, August 10th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.14. The company had revenue of $514 million for the quarter, compared to the consensus estimate 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 for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.42 earnings per share. Analysts expect that Masonite International Corp. will post $2.97 earnings per share for the current year.
In other 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 transaction of $101,505.00. Following the completion of the transaction, the insider now directly owns 24,140 shares in the company, valued at $1,633,553.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.42% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Independent Portfolio Consultants Inc. raised its position in Masonite International Corp. by 5.0% in the third quarter. Independent Portfolio Consultants Inc. now owns 3,050 shares of the company’s stock worth $190,000 after buying an additional 145 shares during the period. BNP Paribas Arbitrage SA raised its position in Masonite International Corp. by 113.8% in the third quarter. BNP Paribas Arbitrage SA now owns 2,516 shares of the company’s stock worth $156,000 after buying an additional 1,339 shares during the period. Royal Bank of Canada raised its position in Masonite International Corp. by 153.4% in the second quarter. Royal Bank of Canada now owns 7,657 shares of the company’s stock worth $506,000 after buying an additional 4,635 shares during the period. Public Employees Retirement System of Ohio raised its position 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 worth $102,000 after buying an additional 47 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in Masonite International Corp. by 15.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 143,001 shares of the company’s stock worth $9,459,000 after buying an additional 19,609 shares during the period. Institutional investors and hedge funds own 99.92% of the company’s stock.
About Masonite International Corp.
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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