Zacks Investment Research Downgrades Masco Corporation (MAS) to Sell
Masco Corporation (NYSE:MAS) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “Shares of Masco have outperformed the industry year to date. The company has surpassed/met earnings estimates in two of the past four quarters. Masco remains well positioned on expectation of continued momentum in housing. Positives like an improving economy, modest wage growth, low unemployment levels, low interest rates and positive consumer confidence raise optimism over the sector’s performance. However, the company has been facing some pressure in resin-related costs as well as expenses related to new product launches. Further, negative impact of currency translation is a major headwind as about 21% of Masco’s sales is generated outside the U.S. Also, stretched valuation indicates limited upside potential.”
Other research analysts have also issued research reports about the stock. Jefferies Group LLC reissued a “buy” rating and set a $45.00 target price on shares of Masco Corporation in a research report on Wednesday, July 19th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $43.00 price objective on shares of Masco Corporation in a research report on Tuesday, July 18th. Longbow Research reaffirmed a “buy” rating and set a $42.00 price objective on shares of Masco Corporation in a research report on Tuesday, July 4th. Robert W. Baird reaffirmed a “buy” rating and set a $42.00 price objective on shares of Masco Corporation in a research report on Monday, August 28th. Finally, MKM Partners reaffirmed a “buy” rating and set a $44.00 price objective (up previously from $43.00) on shares of Masco Corporation in a research report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $40.92.
Masco Corporation (NYSE MAS) traded down 0.28% during trading on Tuesday, reaching $39.14. The company had a trading volume of 581,318 shares. The firm has a 50-day moving average price of $37.46 and a 200 day moving average price of $36.95. Masco Corporation has a 12-month low of $29.38 and a 12-month high of $39.62. The stock has a market cap of $12.34 billion, a P/E ratio of 24.21 and a beta of 1.54.
Masco Corporation (NYSE:MAS) last released its earnings results on Thursday, July 27th. The construction company reported $0.60 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.60. The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.07 billion. Masco Corporation had a net margin of 7.09% and a return on equity of 20,509.09%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.46 EPS. Equities research analysts predict that Masco Corporation will post $1.97 EPS for the current fiscal year.
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In other Masco Corporation news, insider Joseph B. Gross sold 2,337 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $37.53, for a total transaction of $87,707.61. Following the sale, the insider now directly owns 56,935 shares of the company’s stock, valued at $2,136,770.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Kenneth G. Cole sold 2,266 shares of the company’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $37.36, for a total transaction of $84,657.76. Following the sale, the vice president now directly owns 85,693 shares in the company, valued at $3,201,490.48. The disclosure for this sale can be found here. In the last three months, insiders sold 24,101 shares of company stock worth $916,799. 1.30% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. Mckinley Capital Management LLC Delaware bought a new stake in Masco Corporation during the second quarter worth about $101,000. Pathstone Family Office LLC bought a new stake in Masco Corporation during the first quarter worth about $103,000. YorkBridge Wealth Partners LLC grew its stake in Masco Corporation by 4.6% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,895 shares of the construction company’s stock worth $110,000 after buying an additional 127 shares during the last quarter. Trust Co. of Vermont grew its stake in Masco Corporation by 4.4% during the second quarter. Trust Co. of Vermont now owns 2,964 shares of the construction company’s stock worth $113,000 after buying an additional 125 shares during the last quarter. Finally, Advisory Services Network LLC grew its stake in Masco Corporation by 27.6% during the second quarter. Advisory Services Network LLC now owns 3,532 shares of the construction company’s stock worth $135,000 after buying an additional 763 shares during the last quarter. 88.38% of the stock is currently owned by hedge funds and other institutional investors.
Masco Corporation Company Profile
Masco Corporation designs, manufactures, markets and distributes branded home improvement and building products. The Company operates through four business segments: Plumbing Products, Decorative Architectural Products, Cabinetry Products, and Windows and Other Specialty Products. The Company’s portfolio of brands includes BEHR paint; DELTA and HANSGROHE faucets, bath and shower fixtures; KRAFTMAID and MERILLAT cabinets; MILGARD windows and doors, and HOT SPRING spas.
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