MasterBrand (NYSE:MBC) Now Covered by Analysts at Zacks Research

Zacks Research started coverage on shares of MasterBrand (NYSE:MBC) in a report released on Tuesday,Zacks reports. The brokerage issued a hold rating on the stock.

Other equities analysts have also issued research reports about the company. Weiss Ratings reiterated a “sell (d)” rating on shares of MasterBrand in a research note on Friday, October 9th. DA Davidson reissued a “neutral” rating and set a $10.00 price target on shares of MasterBrand in a research report on Tuesday, October 27th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $10.00.

MasterBrand Stock Up 9.0%

MasterBrand stock opened at $7.51 on Tuesday. MasterBrand has a twelve month low of $6.17 and a twelve month high of $13.95. The business has a fifty day moving average of $7.23 and a two-hundred day moving average of $8.82. The firm has a market cap of $1.53 billion, a P/E ratio of -10.88 and a beta of 1.45. The company has a quick ratio of 1.04, a current ratio of 1.76 and a debt-to-equity ratio of 0.70.

MasterBrand (NYSE:MBC) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.05). The company had revenue of $815.20 million during the quarter, compared to the consensus estimate of $743.05 million. MasterBrand had a positive return on equity of 3.65% and a negative net margin of 3.49%. The company’s revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 earnings per share. On average, analysts forecast that MasterBrand will post -0.03 earnings per share for the current fiscal year.

Insider Activity

In other MasterBrand news, EVP Kurt Wanninger sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $9.22, for a total transaction of $461,000.00. Following the sale, the executive vice president owned 201,199 shares of the company’s stock, valued at approximately $1,855,054.78. The trade was a 19.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MBC. Pzena Investment Management LLC increased its holdings in MasterBrand by 11.1% in the 3rd quarter. Pzena Investment Management LLC now owns 17,027,986 shares of the company’s stock worth $119,196,000 after buying an additional 1,698,503 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of MasterBrand by 6.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,010,428 shares of the company’s stock valued at $58,256,000 after purchasing an additional 447,352 shares in the last quarter. Paradigm Capital Management Inc. NY acquired a new stake in shares of MasterBrand in the second quarter worth approximately $47,526,000. Monarch Alternative Capital LP purchased a new position in shares of MasterBrand in the first quarter worth about $16,620,000. Finally, Ancora Advisors LLC purchased a new position in MasterBrand in the 2nd quarter worth approximately $6,917,000. 87.32% of the stock is owned by institutional investors and hedge funds.

MasterBrand Company Profile

MasterBrand, Inc (NYSE:MBC) is a manufacturer of residential cabinetry and related products. The company designs and produces cabinets for kitchens, bathrooms, home offices, living areas and other spaces, serving both new construction and remodeling markets.

MasterBrand offers a range of cabinet styles, materials, finishes and price points through a portfolio of brands that includes Aristokraft, Cabinetry by Karman, Decora, Diamond, Homecrest, Kemper, Mantra, Omega and Schrock. Its products are sold through home improvement and specialty retailers, independent dealers, builders and other trade customers.

The company is based in Jasper, Indiana, and serves customers primarily in the United States and Canada.