Trading Report: Today, Masonite International Corp. (DOOR) Raised to “Buy” at Zacks Investment Research

Today, Masonite International Corp. (DOOR) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Masonite International Corp. (NYSE:DOOR) from a hold rating to a buy rating in a research note issued to investors on Wednesday. Zacks Investment Research currently has $67.00 price objective on the stock.

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 brokerages have also weighed in on DOOR. Imperial Capital cut their price target on shares of Masonite International Corp. from $82.50 to $80.00 and set an outperform rating on the stock in a research note on Wednesday, July 6th. FBR & Co reaffirmed a buy rating and issued a $89.00 price target on shares of Masonite International Corp. in a research note on Wednesday, August 17th. Wedbush reaffirmed an outperform rating and issued a $72.00 price target on shares of Masonite International Corp. in a research note on Friday, August 12th. Robert W. Baird reaffirmed a buy rating on shares of Masonite International Corp. in a research note on Wednesday, June 22nd. Finally, TheStreet lowered shares of Masonite International Corp. from a buy rating to a hold rating in a research note on Thursday, September 29th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $76.86.

Masonite International Corp. (NYSE:DOOR) opened at 59.59 on Wednesday. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 84.77 and a beta of 1.05. The company has a 50-day moving average of $63.71 and a 200-day moving average of $67.29. Masonite International Corp. has a 1-year low of $45.14 and a 1-year high of $72.75.

Masonite International Corp. (NYSE:DOOR) last released its quarterly earnings data on Wednesday, August 10th. The company reported $1.02 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $514 million for the quarter, compared to analyst estimates of $512.96 million. During the same quarter last year, the firm earned $0.42 EPS. Masonite International Corp.’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities analysts predict that Masonite International Corp. will post $2.97 earnings per share for the current year.

In other 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 value of $101,505.00. Following the sale, the insider now owns 24,140 shares of the company’s stock, valued at $1,633,553.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.42% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. ProShare Advisors LLC increased its position in shares of Masonite International Corp. by 0.3% in the second quarter. ProShare Advisors LLC now owns 3,833 shares of the company’s stock worth $254,000 after buying an additional 13 shares during the last quarter. Amalgamated Bank increased its position in shares of Masonite International Corp. by 1.0% in the second quarter. Amalgamated Bank now owns 3,209 shares of the company’s stock worth $216,000 after buying an additional 31 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Masonite International Corp. by 3.2% in the second quarter. Public Employees Retirement System of Ohio now owns 1,536 shares of the company’s stock worth $102,000 after buying an additional 47 shares during the last quarter. Independent Portfolio Consultants Inc. increased its position in shares of Masonite International Corp. by 4.9% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,905 shares of the company’s stock worth $192,000 after buying an additional 135 shares during the last quarter. Finally, Credit Agricole S A increased its position in shares of Masonite International Corp. by 0.7% in the first quarter. Credit Agricole S A now owns 44,246 shares of the company’s stock worth $2,898,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 99.92% of the company’s stock.

Masonite International Corp. Company Profile

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.

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