Masonite International Corp. (DOOR) Rating Increased to Buy at Zacks Investment Research
Masonite International Corp. (NYSE:DOOR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage currently has a $67.00 price target on the stock. Zacks Investment Research’s target price points to a potential upside of 11.63% from the company’s previous close.
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 analysts have also weighed in on DOOR. Robert W. Baird restated a “buy” rating on shares of Masonite International Corp. in a report on Wednesday, June 22nd. Royal Bank Of Canada restated a “buy” rating on shares of Masonite International Corp. in a report on Tuesday, July 12th. Wedbush restated an “outperform” rating and issued a $72.00 price objective on shares of Masonite International Corp. in a report on Friday, August 12th. Imperial Capital decreased their price objective on shares of Masonite International Corp. from $80.00 to $77.00 and set an “outperform” rating for the company in a report on Friday, August 12th. Finally, TheStreet lowered shares of Masonite International Corp. from a “buy” rating to a “hold” rating in a report on Thursday, September 29th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $77.38.
Shares of Masonite International Corp. (NYSE:DOOR) opened at 60.02 on Wednesday. The company has a 50 day moving average price of $63.95 and a 200-day moving average price of $67.31. The stock has a market cap of $1.84 billion, a P/E ratio of 85.38 and a beta of 1.05. Masonite International Corp. has a 12 month low of $45.14 and a 12 month high of $72.75.
Masonite International Corp. (NYSE:DOOR) last announced its quarterly earnings data on Wednesday, August 10th. The company reported $1.02 earnings per share 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 company earned $514 million during the quarter, compared to analyst estimates of $512.96 million. During the same period in the previous year, the business earned $0.42 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities research analysts predict that Masonite International Corp. will post $2.97 earnings per share for the current year.
In other Masonite International Corp. news, insider Robert Edgar Lewis sold 1,500 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 24,140 shares in the company, valued at approximately $1,633,553.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 2.42% of the company’s stock.
A number of large investors have recently made changes to their positions in DOOR. Vanguard Group Inc. raised its stake in shares of Masonite International Corp. by 1.8% in the second quarter. Vanguard Group Inc. now owns 2,055,631 shares of the company’s stock worth $135,959,000 after buying an additional 36,203 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Masonite International Corp. by 38.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 819,513 shares of the company’s stock worth $53,678,000 after buying an additional 228,600 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised 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 in the last quarter. Advisory Research Inc. raised its stake in shares of Masonite International Corp. by 18.0% in the second quarter. Advisory Research Inc. now owns 768,298 shares of the company’s stock worth $50,815,000 after buying an additional 117,062 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Masonite International Corp. by 50.6% in the first quarter. State Street Corp now owns 748,081 shares of the company’s stock worth $49,001,000 after buying an additional 251,389 shares in the last quarter. Institutional investors and hedge funds 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Masonite International Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Masonite International Corp. and related companies with MarketBeat.com's FREE daily email newsletter.