Zacks Investment Research downgraded shares of Masonite International (NYSE:DOOR) from a hold rating to a sell rating in a research note issued to investors on Tuesday.
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. “
Several other analysts have also issued reports on DOOR. ValuEngine lowered shares of Masonite International from a hold rating to a sell rating in a research report on Wednesday, July 25th. Royal Bank of Canada set a $76.00 price target on shares of Masonite International and gave the stock a buy rating in a research report on Monday, October 8th. Nomura decreased their price target on shares of Masonite International from $86.00 to $75.00 and set a buy rating on the stock in a research report on Tuesday, October 9th. Robert W. Baird set a $72.00 price target on shares of Masonite International and gave the stock a buy rating in a research report on Tuesday, October 16th. Finally, B. Riley decreased their price target on shares of Masonite International from $86.00 to $80.00 and set a buy rating on the stock in a research report on Monday, August 13th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $69.14.
NYSE:DOOR traded up $0.58 during midday trading on Tuesday, reaching $55.08. The stock had a trading volume of 290,655 shares, compared to its average volume of 244,513. Masonite International has a 1-year low of $51.15 and a 1-year high of $75.95. The company has a current ratio of 2.51, a quick ratio of 1.54 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $1.49 billion, a PE ratio of 16.54 and a beta of 1.28.
Masonite International (NYSE:DOOR) last posted its earnings results on Tuesday, November 6th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.02). Masonite International had a net margin of 7.08% and a return on equity of 14.63%. The firm had revenue of $557.00 million during the quarter, compared to analyst estimates of $559.88 million. During the same quarter in the previous year, the business posted $1.00 earnings per share. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, analysts anticipate that Masonite International will post 4.02 EPS for the current fiscal year.
In other news, insider Robert Edgar Lewis sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $66.44, for a total transaction of $298,980.00. Following the completion of the transaction, the insider now directly owns 16,786 shares of the company’s stock, valued at approximately $1,115,261.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George A. Lorch sold 12,800 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $68.64, for a total transaction of $878,592.00. Following the transaction, the director now directly owns 22,832 shares of the company’s stock, valued at $1,567,188.48. The disclosure for this sale can be found here. Company insiders own 2.19% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its holdings in shares of Masonite International by 69.4% during the 2nd quarter. American Century Companies Inc. now owns 89,804 shares of the company’s stock worth $6,452,000 after acquiring an additional 36,777 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Masonite International by 10.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 226,730 shares of the company’s stock worth $16,291,000 after acquiring an additional 21,520 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Masonite International by 773.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,008 shares of the company’s stock worth $143,000 after acquiring an additional 1,778 shares during the period. Pembroke Management LTD lifted its holdings in shares of Masonite International by 62.4% during the 2nd quarter. Pembroke Management LTD now owns 206,945 shares of the company’s stock worth $14,869,000 after acquiring an additional 79,500 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Masonite International by 460.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 36,579 shares of the company’s stock worth $2,628,000 after acquiring an additional 30,047 shares during the period. 96.21% of the stock is owned by institutional investors.
About Masonite International
Masonite International Corporation designs, manufactures, and distributes interior and exterior doors for the new construction and repair, renovation, and remodeling sectors of the residential and non-residential building construction markets worldwide. The company offers molded panel, flush, stile and rail, routed medium-density fiberboard (MDF), steel, and fiberglass residential doors, as well as architectural interior doors.
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