Masonite International (DOOR) Raised to Buy at Zacks Investment Research

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Masonite International (NYSE:DOOR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, Zacks.com reports. The firm currently has a $58.00 target price on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.10% from the company’s previous close.

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. “

DOOR has been the subject of several other research reports. ValuEngine upgraded shares of Masonite International from a “sell” rating to a “hold” rating in a report on Friday, February 15th. Seaport Global Securities initiated coverage on shares of Masonite International in a report on Friday, March 15th. They issued a “buy” rating and a $61.00 target price for the company. Robert W. Baird set a $62.00 price objective on shares of Masonite International and gave the stock a “buy” rating in a report on Monday, April 22nd. Royal Bank of Canada set a $58.00 price objective on shares of Masonite International and gave the stock a “buy” rating in a report on Tuesday, February 5th. Finally, B. Riley downgraded shares of Masonite International from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $66.00 to $56.00 in a report on Friday, February 1st. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $61.00.

Shares of DOOR stock opened at $51.74 on Tuesday. The stock has a market capitalization of $1.33 billion, a PE ratio of 14.06 and a beta of 1.43. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.73 and a quick ratio of 1.69. Masonite International has a one year low of $43.76 and a one year high of $73.40.

Masonite International (NYSE:DOOR) last announced its earnings results on Wednesday, May 1st. The company reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.07. The company had revenue of $530.00 million during the quarter, compared to the consensus estimate of $531.46 million. Masonite International had a net margin of 3.47% and a return on equity of 15.58%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.73 earnings per share. On average, equities research analysts anticipate that Masonite International will post 4.03 earnings per share for the current fiscal year.

In related news, insider Robert Edgar Lewis sold 1,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $55.28, for a total transaction of $55,280.00. Following the completion of the sale, the insider now owns 21,238 shares in the company, valued at $1,174,036.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.43% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of DOOR. Marshall Wace LLP purchased a new position in shares of Masonite International in the first quarter worth about $37,000. Quadrant Capital Group LLC increased its stake in shares of Masonite International by 2,540.0% in the first quarter. Quadrant Capital Group LLC now owns 1,056 shares of the company’s stock worth $50,000 after purchasing an additional 1,016 shares in the last quarter. NumerixS Investment Technologies Inc increased its stake in shares of Masonite International by 1,000.0% in the fourth quarter. NumerixS Investment Technologies Inc now owns 1,100 shares of the company’s stock worth $51,000 after purchasing an additional 1,000 shares in the last quarter. Marshall Wace North America L.P. increased its stake in shares of Masonite International by 85.5% in the first quarter. Marshall Wace North America L.P. now owns 1,441 shares of the company’s stock worth $72,000 after purchasing an additional 664 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in shares of Masonite International by 3,466.0% in the first quarter. Rockefeller Capital Management L.P. now owns 1,890 shares of the company’s stock worth $95,000 after purchasing an additional 1,837 shares in the last quarter.

Masonite International Company Profile

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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