Masco (NYSE:MAS) Price Target Raised to $95.00

Masco (NYSE:MAS) had its price target boosted by investment analysts at Argus from $92.00 to $95.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Argus‘s price objective points to a potential upside of 10.39% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on MAS. Truist Financial raised their price target on Masco from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Weiss Ratings upgraded Masco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 16th. UBS Group boosted their target price on Masco from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Zacks Research cut Masco from a “strong-buy” rating to a “hold” rating in a report on Friday, August 14th. Finally, Oppenheimer restated an “outperform” rating and set a $90.00 target price (up from $88.00) on shares of Masco in a research report on Wednesday, October 28th. Seven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $81.82.

Masco Price Performance

Masco stock traded down $0.76 during trading hours on Thursday, hitting $86.06. 170,630 shares of the stock were exchanged, compared to its average volume of 2,568,629. The stock has a market capitalization of $16.59 billion, a P/E ratio of 18.64, a P/E/G ratio of 1.82 and a beta of 1.21. The business’s 50-day moving average is $71.92 and its two-hundred day moving average is $71.09. The company has a debt-to-equity ratio of 109.07, a quick ratio of 1.20 and a current ratio of 1.83. Masco has a 12 month low of $58.16 and a 12 month high of $87.86.

Masco (NYSE:MAS) last posted its earnings results on Wednesday, October 28th. The construction company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.17. The company had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Masco had a net margin of 12.07% and a negative return on equity of 1,807.69%. Masco’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 earnings per share. Equities research analysts expect that Masco will post 4.72 EPS for the current fiscal year.

Insider Buying and Selling

In other Masco news, VP Kenneth Cole sold 34,470 shares of the company’s stock in a transaction on Friday, October 30th. The stock was sold at an average price of $80.64, for a total transaction of $2,779,660.80. Following the completion of the sale, the vice president directly owned 39,700 shares in the company, valued at $3,201,408. This represents a 46.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Masco

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Masco during the 2nd quarter valued at about $1,278,943,000. Bank of America Corp DE purchased a new position in shares of Masco during the second quarter valued at approximately $178,424,000. Bank of New York Mellon Corp bought a new position in Masco during the second quarter valued at approximately $156,668,000. Deutsche Bank AG bought a new position in Masco during the second quarter valued at approximately $149,673,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Masco by 828.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,071,592 shares of the construction company’s stock worth $64,692,000 after purchasing an additional 956,204 shares during the last quarter. 93.91% of the stock is currently owned by institutional investors.

Masco Company Profile

Masco Corporation (NYSE: MAS) is a manufacturer of branded home improvement and building products. The company’s portfolio includes faucets, showering and bathing products, architectural coatings, decorative hardware and related products sold to residential and commercial customers.

Masco operates through two principal areas: Plumbing Products and Decorative Architectural Products. Its brands include Delta Faucet, Brizo, Hansgrohe, Behr Paint and Kichler Lighting, among others. These products are distributed through home improvement retailers, specialty dealers, distributors and other channels.

Founded in 1929 by Alex Manoogian, Masco is headquartered in Livonia, Michigan, and serves customers primarily in North America and Europe, with products sold in additional international markets.