Masonite International Corp. (DOOR) Stock Rating Upgraded by Zacks Investment Research
Masonite International Corp. (NYSE:DOOR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage presently has a $67.00 price objective on the stock. Zacks Investment Research’s price target indicates a potential upside of 11.83% from the stock’s current price.
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. “
A number of other equities research analysts also recently weighed in on the stock. FBR & Co restated a “buy” rating and issued a $89.00 price target on shares of Masonite International Corp. in a research note on Wednesday, August 17th. TheStreet lowered shares of Masonite International Corp. from a “buy” rating to a “hold” rating in a report on Thursday, September 29th. Imperial Capital dropped their price objective on shares of Masonite International Corp. from $82.50 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, July 6th. Wedbush reiterated an “outperform” rating and issued a $72.00 price objective (down previously from $74.00) on shares of Masonite International Corp. in a report on Wednesday, June 29th. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Masonite International Corp. in a report on Tuesday, July 12th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Masonite International Corp. presently has an average rating of “Buy” and an average price target of $77.38.
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Masonite International Corp. (NYSE:DOOR) traded down 0.65% on Wednesday, hitting $59.91. 232,679 shares of the stock traded hands. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 85.22 and a beta of 1.05. Masonite International Corp. has a 1-year low of $45.14 and a 1-year high of $72.75. The stock has a 50-day moving average price of $64.43 and a 200 day moving average price of $67.41.
Masonite International Corp. (NYSE:DOOR) last posted its quarterly earnings results on Wednesday, August 10th. The company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.14. Masonite International Corp. had a net margin of 1.10% and a return on equity of 12.97%. The company had revenue of $514 million for the quarter, compared to the consensus estimate of $512.96 million. During the same period last year, the company posted $0.42 EPS. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, analysts anticipate that Masonite International Corp. will post $2.97 EPS for the current fiscal year.
In other Masonite International Corp. news, insider Robert Edgar Lewis sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were 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 owns 24,140 shares in the company, valued at approximately $1,633,553.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.42% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Independent Portfolio Consultants Inc. raised its stake 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 valued at $190,000 after buying an additional 145 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake 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 valued at $156,000 after buying an additional 1,339 shares during the last quarter. Royal Bank of Canada increased its stake 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 valued at $506,000 after buying an additional 4,635 shares during the last quarter. Public Employees Retirement System of Ohio increased 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 last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake 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 valued at $9,459,000 after buying an additional 19,609 shares during the last quarter. Institutional investors own 99.93% 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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