Argus Forecasts Strong Price Appreciation for Masco (NYSE:MAS) Stock

Masco (NYSE:MAS) had its target price upped by equities research analysts at Argus from $92.00 to $95.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Argus‘s price target indicates a potential upside of 15.57% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. Evercore downgraded shares of Masco from an “outperform” rating to an “in-line” rating and set a $78.00 price target on the stock. in a research note on Thursday, July 30th. Oppenheimer reissued an “outperform” rating and issued a $90.00 price target (up from $88.00) on shares of Masco in a report on Wednesday, October 28th. The Goldman Sachs Group restated a “buy” rating and issued a $95.00 price objective on shares of Masco in a research note on Wednesday, October 28th. Deutsche Bank Aktiengesellschaft set a $74.00 price objective on shares of Masco in a report on Monday, August 3rd. Finally, DA Davidson set a $82.00 target price on shares of Masco in a research report on Thursday, October 29th. Seven equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $81.82.

Masco Stock Performance

MAS stock traded down $1.63 during trading on Thursday, reaching $82.20. 2,603,119 shares of the stock were exchanged, compared to its average volume of 2,336,175. Masco has a twelve month low of $58.16 and a twelve month high of $87.86. The company has a current ratio of 1.83, a quick ratio of 1.20 and a debt-to-equity ratio of 109.07. The company has a market capitalization of $15.85 billion, a P/E ratio of 17.79, a price-to-earnings-growth ratio of 1.85 and a beta of 1.21. The stock has a 50 day simple moving average of $72.31 and a 200-day simple moving average of $71.22.

Masco (NYSE:MAS) last posted its quarterly earnings results on Wednesday, October 28th. The construction company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.02 by $0.17. Masco had a negative return on equity of 1,807.69% and a net margin of 12.07%. The firm had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the prior year, the firm posted $0.97 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Masco will post 4.72 earnings per share for the current year.

Insider Activity at Masco

In related news, VP Kenneth Cole sold 34,470 shares of the stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $80.64, for a total transaction of $2,779,660.80. Following the sale, the vice president directly owned 39,700 shares in the company, valued at $3,201,408. This represents a 46.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Masco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MAS. Diversified Trust Co raised its position in shares of Masco by 9.9% during the third quarter. Diversified Trust Co now owns 94,510 shares of the construction company’s stock worth $6,370,000 after acquiring an additional 8,492 shares during the last quarter. ICICI Prudential Asset Management Co Ltd boosted its holdings in Masco by 6.5% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 129,664 shares of the construction company’s stock worth $8,739,000 after purchasing an additional 7,900 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Masco by 7.0% during the 3rd quarter. Fisher Asset Management LLC now owns 3,344 shares of the construction company’s stock worth $225,000 after buying an additional 218 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Masco by 9.5% in the third quarter. Russell Investments Group Ltd. now owns 253,813 shares of the construction company’s stock valued at $17,110,000 after purchasing an additional 22,042 shares in the last quarter. Finally, Maryland State Retirement & Pension System increased its stake in shares of Masco by 5.9% during the 3rd quarter. Maryland State Retirement & Pension System now owns 12,206 shares of the construction company’s stock worth $823,000 after purchasing an additional 675 shares during the last quarter. Institutional investors and hedge funds own 93.91% of the company’s stock.

About Masco

Masco Corporation (NYSE: MAS) is a manufacturer of branded home improvement and building products. The company’s portfolio includes faucets, showering and bathing products, architectural coatings, decorative hardware and related products sold to residential and commercial customers.

Masco operates through two principal areas: Plumbing Products and Decorative Architectural Products. Its brands include Delta Faucet, Brizo, Hansgrohe, Behr Paint and Kichler Lighting, among others. These products are distributed through home improvement retailers, specialty dealers, distributors and other channels.

Founded in 1929 by Alex Manoogian, Masco is headquartered in Livonia, Michigan, and serves customers primarily in North America and Europe, with products sold in additional international markets.