Evercore ISI Forecasts Strong Price Appreciation for Masco (NYSE:MAS) Stock

by · The Cerbat Gem

Masco (NYSE:MAS – Get Free Report) had its price objective upped by research analysts at Evercore ISI from $78.00 to $82.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “in-line” rating on the construction company’s stock. Evercore ISI’s price objective indicates a potential upside of 1.72% from the company’s previous close.

Several other research firms have also commented on MAS. Truist Financial upped their price objective on Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Wells Fargo & Company raised their price objective on Masco from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Royal Bank of Canada downgraded Masco from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $79.00 to $80.00 in a research note on Wednesday. Robert W. Baird decreased their target price on shares of Masco from $95.00 to $94.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Jefferies Financial Group lifted their price target on shares of Masco from $89.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Masco currently has an average rating of “Moderate Buy” and an average price target of $83.92.

Read Our Latest Report on Masco

Masco Stock Performance

Masco stock traded down $0.69 during mid-day trading on Wednesday, reaching $80.61. 445,695 shares of the stock traded hands, compared to its average volume of 1,806,678. The stock has a market capitalization of $17.75 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 2.78 and a beta of 1.24. The company has a debt-to-equity ratio of 16.18, a current ratio of 1.76 and a quick ratio of 1.12. The business’s 50-day moving average is $81.52 and its 200-day moving average is $74.41. Masco has a 12-month low of $51.72 and a 12-month high of $86.70.

Masco (NYSE:MAS – Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $2 billion. Masco had a net margin of 11.59% and a return on equity of 602.39%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.00 EPS. As a group, sell-side analysts predict that Masco will post 4.1 EPS for the current fiscal year.

Insider Transactions at Masco

In related news, VP Kenneth G. Cole sold 37,814 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the completion of the transaction, the vice president now directly owns 36,980 shares of the company’s stock, valued at approximately $2,896,273.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Masco

Several institutional investors have recently bought and sold shares of MAS. Vanguard Group Inc. raised its position in shares of Masco by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 26,300,591 shares of the construction company’s stock valued at $2,074,591,000 after buying an additional 721,117 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Masco by 1.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 9,830,723 shares of the construction company’s stock valued at $655,414,000 after purchasing an additional 181,515 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Masco by 0.9% in the 3rd quarter. Van ECK Associates Corp now owns 2,950,880 shares of the construction company’s stock worth $241,825,000 after purchasing an additional 26,259 shares during the period. Impax Asset Management Group plc increased its position in shares of Masco by 10.0% during the 2nd quarter. Impax Asset Management Group plc now owns 2,855,056 shares of the construction company’s stock valued at $190,347,000 after purchasing an additional 259,205 shares during the last quarter. Finally, Earnest Partners LLC raised its holdings in Masco by 16.6% during the 1st quarter. Earnest Partners LLC now owns 2,245,644 shares of the construction company’s stock valued at $177,136,000 after buying an additional 319,029 shares during the period. Institutional investors own 93.91% of the company’s stock.

About Masco

(Get Free Report)

Masco Corporation designs, manufactures, and distributes home improvement and building products in North America, Europe, and internationally. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, sinks, toilets, acrylic tubs, shower trays, spas, exercise pools, and fitness systems; brass, copper, and composite plumbing system components; connected water products; thermoplastic solutions, extruded plastic profiles, specialized fabrications, and PEX tubing products; and other non-decorative plumbing products.

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