Wedbush Initiates Coverage on Masonite International Corporation (DOOR)

Equities researchers at Wedbush started coverage on shares of Masonite International Corporation (NYSE:DOOR) in a research report issued on Friday, MarketBeat reports. The brokerage set an “outperform” rating and a $85.00 price target on the stock. Wedbush’s target price would suggest a potential upside of 13.56% from the company’s previous close.

A number of other brokerages have also commented on DOOR. Zacks Investment Research lowered Masonite International Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 26th. Instinet cut their price target on Masonite International Corporation from $90.00 to $86.00 and set a “buy” rating for the company in a report on Tuesday, May 9th. TheStreet upgraded Masonite International Corporation from a “c+” rating to a “b-” rating in a report on Monday, March 6th. Royal Bank Of Canada upped their price target on Masonite International Corporation from $87.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, March 8th. Finally, Nomura began coverage on Masonite International Corporation in a report on Wednesday, April 12th. They set a “buy” rating and a $50.00 price target for the company. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $78.11.

Analyst Recommendations for Masonite International Corporation (NYSE:DOOR)

Masonite International Corporation (NYSE DOOR) opened at 74.85 on Friday. Masonite International Corporation has a one year low of $55.60 and a one year high of $85.30. The stock has a market cap of $2.23 billion, a P/E ratio of 22.16 and a beta of 1.26. The company has a 50-day moving average price of $76.05 and a 200-day moving average price of $73.29.

Masonite International Corporation (NYSE:DOOR) last posted its earnings results on Monday, May 8th. The company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.05. Masonite International Corporation had a return on equity of 14.73% and a net margin of 5.29%. The firm had revenue of $487.18 million during the quarter, compared to analyst estimates of $497.51 million. During the same period in the previous year, the company earned $0.57 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. On average, analysts anticipate that Masonite International Corporation will post $4.19 earnings per share for the current year.

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In other news, insider Robert Edgar Lewis sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $74.08, for a total transaction of $259,280.00. Following the completion of the transaction, the insider now directly owns 22,618 shares in the company, valued at $1,675,541.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.19% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in DOOR. Eventide Asset Management LLC boosted its stake in Masonite International Corporation by 48.6% in the fourth quarter. Eventide Asset Management LLC now owns 301,260 shares of the company’s stock worth $19,823,000 after buying an additional 98,560 shares in the last quarter. Two Sigma Investments LP boosted its stake in Masonite International Corporation by 32.0% in the fourth quarter. Two Sigma Investments LP now owns 120,795 shares of the company’s stock worth $7,948,000 after buying an additional 29,260 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Masonite International Corporation during the fourth quarter worth about $947,000. A.R.T. Advisors LLC boosted its stake in Masonite International Corporation by 244.7% in the fourth quarter. A.R.T. Advisors LLC now owns 13,100 shares of the company’s stock worth $861,000 after buying an additional 9,300 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Masonite International Corporation by 68.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,659 shares of the company’s stock worth $174,000 after buying an additional 1,084 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

Masonite International Corporation 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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