Masonite International Corp. (DOOR) Upgraded by Zacks Investment Research to Buy
Masonite International Corp. (NYSE:DOOR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $67.00 target price on the stock. Zacks Investment Research’s target price would indicate a potential upside of 11.83% from the company’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. “
DOOR has been the subject of a number of other research reports. Imperial Capital decreased 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. FBR & Co restated a “buy” rating and set a $89.00 price objective on shares of Masonite International Corp. in a report on Wednesday, August 17th. Wedbush reiterated an “outperform” rating and set a $72.00 target price on shares of Masonite International Corp. in a research report on Friday, August 12th. Robert W. Baird reiterated a “buy” rating on shares of Masonite International Corp. in a research report on Wednesday, June 22nd. Finally, TheStreet lowered shares of Masonite International Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, September 29th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Masonite International Corp. presently has a consensus rating of “Buy” and an average target price of $77.38.
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Shares of Masonite International Corp. (NYSE:DOOR) traded down 0.65% during trading on Wednesday, hitting $59.91. 232,679 shares of the stock traded hands. The stock has a 50-day moving average of $64.43 and a 200 day moving average of $67.41. The company has a market cap of $1.83 billion, a P/E 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.
Masonite International Corp. (NYSE:DOOR) last posted its quarterly earnings data 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. Masonite International Corp. had a net margin of 1.10% and a return on equity of 12.97%. The business earned $514 million during the quarter, compared to the consensus estimate of $512.96 million. During the same quarter last year, the company posted $0.42 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts predict that Masonite International Corp. will post $2.97 EPS for the current fiscal year.
In related news, insider Robert Edgar Lewis sold 1,500 shares of Masonite International Corp. stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $67.67, for a total value of $101,505.00. Following the transaction, the insider now directly owns 24,140 shares of the company’s stock, valued at $1,633,553.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.42% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Masonite International Corp. by 105.7% in the first quarter. BlackRock Inc. now owns 2,220 shares of the company’s stock worth $146,000 after buying an additional 1,141 shares during the last quarter. BlackRock Group LTD boosted its stake in shares of Masonite International Corp. by 68.0% in the first quarter. BlackRock Group LTD now owns 37,872 shares of the company’s stock worth $2,481,000 after buying an additional 15,325 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Masonite International Corp. by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 780,020 shares of the company’s stock worth $51,091,000 after buying an additional 9,960 shares during the period. Credit Agricole S A boosted its stake in shares of Masonite International Corp. by 0.7% in the first quarter. Credit Agricole S A now owns 44,246 shares of the company’s stock worth $2,898,000 after buying an additional 300 shares during the period. Finally, Zelman Capital LLC boosted its stake in shares of Masonite International Corp. by 24.7% in the first quarter. Zelman Capital LLC now owns 204,110 shares of the company’s stock worth $13,369,000 after buying an additional 40,406 shares during the period. 99.93% of the stock is currently owned by institutional investors.
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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