Masonite International (NYSE:DOOR) Lifted to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Masonite International (NYSE:DOOR) from a hold rating to a buy rating in a research note issued to investors on Monday, Zacks.com reports. The firm currently has $57.00 price target on the stock.

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. “

Several other analysts have also recently issued reports on DOOR. ValuEngine upgraded Masonite International from a sell rating to a hold rating in a report on Friday, February 15th. Seaport Global Securities started coverage on Masonite International in a report on Friday, March 15th. They issued a buy rating and a $61.00 target price for the company. Wedbush restated a neutral rating and issued a $50.00 target price on shares of Masonite International in a report on Monday, April 1st. Robert W. Baird set a $62.00 price target on Masonite International and gave the company a buy rating in a research note on Monday, April 22nd. Finally, JPMorgan Chase & Co. upped their price target on Masonite International from $66.00 to $71.00 and gave the company an overweight rating in a research note on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $60.88.

Shares of NYSE:DOOR opened at $50.28 on Monday. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.73 and a quick ratio of 1.69. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 13.66 and a beta of 1.42. Masonite International has a 52-week low of $43.76 and a 52-week high of $73.40.

Masonite International (NYSE:DOOR) last issued its earnings results on Wednesday, May 1st. The company reported $0.81 earnings per share (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 analysts’ expectations of $531.46 million. Masonite International had a return on equity of 15.58% and a net margin of 3.47%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.73 EPS. As a group, equities analysts expect that Masonite International will post 3.96 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Gotham Asset Management LLC lifted its stake in Masonite International by 20.0% during the 4th quarter. Gotham Asset Management LLC now owns 15,017 shares of the company’s stock worth $673,000 after acquiring an additional 2,503 shares in the last quarter. Ramsey Quantitative Systems acquired a new position in Masonite International during the 4th quarter worth about $204,000. Globeflex Capital L P lifted its stake in Masonite International by 74.8% during the 4th quarter. Globeflex Capital L P now owns 19,386 shares of the company’s stock worth $869,000 after acquiring an additional 8,294 shares in the last quarter. Nordea Investment Management AB lifted its stake in Masonite International by 13.6% during the 4th quarter. Nordea Investment Management AB now owns 75,630 shares of the company’s stock worth $3,391,000 after acquiring an additional 9,078 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its stake in Masonite International by 324.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,442 shares of the company’s stock worth $378,000 after acquiring an additional 6,453 shares in the last quarter. 96.80% of the stock is currently owned by institutional investors and hedge funds.

About Masonite International

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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