Masonite International Corporation (DOOR) Cut to “Neutral” at Northcoast Research
Northcoast Research lowered shares of Masonite International Corporation (NYSE:DOOR) from a buy rating to a neutral rating in a report issued on Monday, MarketBeat.com reports. The brokerage currently has $70.00 target price on the stock. The analysts noted that the move was a valuation call.
Other equities research analysts also recently issued reports about the company. Instinet reaffirmed a buy rating and issued a $77.00 price target (down from $86.00) on shares of Masonite International Corporation in a research report on Thursday, August 10th. Nomura set a $77.00 price target on Masonite International Corporation and gave the company a buy rating in a research report on Thursday, August 10th. Royal Bank Of Canada reaffirmed a buy rating and issued a $92.00 price target on shares of Masonite International Corporation in a research report on Monday, June 19th. Zacks Investment Research raised Masonite International Corporation from a hold rating to a buy rating and set a $86.00 price target on the stock in a research report on Monday, July 24th. Finally, Wedbush set a $70.00 target price on Masonite International Corporation and gave the stock a buy rating in a research report on Saturday, August 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Masonite International Corporation presently has a consensus rating of Hold and an average price target of $75.60.
Masonite International Corporation (NYSE:DOOR) opened at 64.55 on Monday. Masonite International Corporation has a one year low of $50.40 and a one year high of $85.30. The company has a 50-day moving average price of $65.32 and a 200-day moving average price of $74.30. The stock has a market cap of $1.91 billion, a P/E ratio of 20.27 and a beta of 1.29.
Masonite International Corporation (NYSE:DOOR) last issued its quarterly earnings results on Wednesday, August 9th. The company reported $0.89 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.22). The business had revenue of $519.70 million during the quarter, compared to analyst estimates of $547.79 million. Masonite International Corporation had a net margin of 4.95% and a return on equity of 14.01%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.02 earnings per share. On average, analysts anticipate that Masonite International Corporation will post $3.37 earnings per share for the current year.
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In other news, Director Robert J. Byrne bought 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were acquired at an average cost of $60.81 per share, with a total value of $91,215.00. Following the completion of the transaction, the director now directly owns 9,633 shares in the company, valued at $585,782.73. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.19% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Masonite International Corporation by 84,431.7% during the first quarter. BlackRock Inc. now owns 2,133,580 shares of the company’s stock valued at $169,086,000 after purchasing an additional 2,131,056 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Masonite International Corporation by 515.8% during the first quarter. Dimensional Fund Advisors LP now owns 115,475 shares of the company’s stock valued at $9,151,000 after purchasing an additional 96,723 shares in the last quarter. Bank of America Corp DE boosted its holdings in Masonite International Corporation by 49.0% during the first quarter. Bank of America Corp DE now owns 156,217 shares of the company’s stock valued at $12,380,000 after purchasing an additional 51,367 shares in the last quarter. Prudential Financial Inc. acquired a new stake in Masonite International Corporation during the first quarter valued at approximately $276,000. Finally, Virginia Retirement Systems ET AL acquired a new stake in Masonite International Corporation during the first quarter valued at approximately $491,000. 98.11% of the stock is currently owned by institutional investors and hedge funds.
About Masonite International Corporation
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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