MasterBrand (NYSE:MBC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of MasterBrand (NYSE:MBC) from a sell rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Several other brokerages also recently weighed in on MBC. DA Davidson reduced their price target on MasterBrand from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday. Weiss Ratings reissued a “sell (d)” rating on shares of MasterBrand in a research note on Friday, October 9th. Finally, Zacks Research assumed coverage on MasterBrand in a report on Tuesday, November 3rd. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $8.00.

MasterBrand Stock Performance

Shares of NYSE:MBC opened at $7.11 on Friday. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -8.08 and a beta of 1.45. MasterBrand has a 12 month low of $6.17 and a 12 month high of $13.95. The firm’s 50-day moving average is $7.13 and its 200 day moving average is $8.73. The company has a current ratio of 1.76, a quick ratio of 1.04 and a debt-to-equity ratio of 0.70.

MasterBrand (NYSE:MBC) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.06 billion. MasterBrand had a negative net margin of 3.49% and a positive return on equity of 3.65%. The firm’s revenue for the quarter was up 48.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 EPS. Research analysts predict that MasterBrand will post -0.03 EPS for the current year.

Institutional Investors Weigh In On MasterBrand

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MBC. Royce & Associates LP grew its stake in MasterBrand by 2.0% in the 3rd quarter. Royce & Associates LP now owns 213,520 shares of the company’s stock worth $1,495,000 after acquiring an additional 4,264 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of MasterBrand by 28.8% during the third quarter. Russell Investments Group Ltd. now owns 351,777 shares of the company’s stock valued at $2,462,000 after acquiring an additional 78,678 shares in the last quarter. Maryland State Retirement & Pension System raised its stake in shares of MasterBrand by 53.9% during the third quarter. Maryland State Retirement & Pension System now owns 45,752 shares of the company’s stock valued at $320,000 after acquiring an additional 16,030 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of MasterBrand by 5.4% during the third quarter. Illinois Municipal Retirement Fund now owns 111,458 shares of the company’s stock valued at $780,000 after acquiring an additional 5,677 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of MasterBrand by 9.3% in the third quarter. Pictet Asset Management Holding SA now owns 741,591 shares of the company’s stock valued at $5,191,000 after purchasing an additional 63,123 shares during the period. Institutional investors own 87.32% of the company’s stock.

About MasterBrand