Masco Corporation (MAS) Lifted to “Buy” at Zacks Investment Research
Masco Corporation (NYSE:MAS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $43.00 price objective on the construction company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 12.54% from the company’s current price.
According to Zacks, “Shares of Masco has outperformed the industry it belongs to year to date. Masco, being one of the leading cabinet manufacturers in the United States, operates through various divisions and offers a large number of products. The company plans to launch several products, including trend-forward finishes, in 2017 to drive growth and capitalize on the growing demand for paints, new door styles, decorative accessories and functional SKUs. Masco regularly divests its less profitable and underperforming businesses to focus on core areas in a bid to accelerate growth and improve shareholders' value. However, negative impact of currency translation is a major headwind. Moreover, a further increase in mortgage rates may dilute the demand for new homes and therefore building products, as mortgage loans might get more expensive.”
Several other analysts have also recently commented on the company. Robert W. Baird restated a “buy” rating and issued a $42.00 target price on shares of Masco Corporation in a research report on Monday, August 28th. BidaskClub upgraded Masco Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Jefferies Group LLC restated a “buy” rating and issued a $45.00 target price on shares of Masco Corporation in a research report on Wednesday, July 19th. Royal Bank Of Canada restated a “buy” rating and issued a $43.00 target price on shares of Masco Corporation in a research report on Wednesday, May 31st. Finally, Credit Suisse Group initiated coverage on Masco Corporation in a research report on Thursday, June 22nd. They issued a “neutral” rating and a $36.00 target price on the stock. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Masco Corporation presently has an average rating of “Buy” and an average target price of $40.92.
Masco Corporation (NYSE MAS) traded up 0.39% during mid-day trading on Tuesday, hitting $38.36. The company had a trading volume of 614,730 shares. The stock’s 50 day moving average price is $37.16 and its 200 day moving average price is $36.60. Masco Corporation has a 52-week low of $29.38 and a 52-week high of $39.37. The firm has a market cap of $12.10 billion, a P/E ratio of 23.72 and a beta of 1.54.
Masco Corporation (NYSE:MAS) last posted its earnings results on Thursday, July 27th. The construction company reported $0.60 EPS for the quarter, meeting the consensus estimate of $0.60. Masco Corporation had a return on equity of 20,509.09% and a net margin of 7.09%. The firm had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the firm earned $0.46 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts predict that Masco Corporation will post $1.98 EPS for the current fiscal year.
In other news, insider Richard A. O’reagan sold 19,498 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $38.18, for a total transaction of $744,433.64. Following the completion of the sale, the insider now directly owns 91,154 shares of the company’s stock, valued at approximately $3,480,259.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Kenneth G. Cole sold 2,266 shares of the firm’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $37.36, for a total value of $84,657.76. Following the sale, the vice president now directly owns 85,693 shares of the company’s stock, valued at $3,201,490.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,101 shares of company stock valued at $916,799. Corporate insiders own 1.30% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MAS. UBS Asset Management Americas Inc. boosted its position in shares of Masco Corporation by 7.9% in the first quarter. UBS Asset Management Americas Inc. now owns 2,762,661 shares of the construction company’s stock worth $93,903,000 after buying an additional 201,337 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Masco Corporation by 6.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 23,632 shares of the construction company’s stock worth $803,000 after buying an additional 1,419 shares during the period. Pacer Advisors Inc. boosted its position in shares of Masco Corporation by 3.1% in the first quarter. Pacer Advisors Inc. now owns 6,338 shares of the construction company’s stock worth $215,000 after buying an additional 189 shares during the period. Private Advisor Group LLC acquired a new stake in shares of Masco Corporation in the first quarter worth $291,000. Finally, Meiji Yasuda Life Insurance Co boosted its position in shares of Masco Corporation by 2.2% in the first quarter. Meiji Yasuda Life Insurance Co now owns 35,980 shares of the construction company’s stock worth $1,223,000 after buying an additional 780 shares during the period. 88.38% of the stock is owned by institutional investors and hedge funds.
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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