Masco (MAS) Raised to “Outperform” at Royal Bank of Canada

Masco (NYSE:MAS) was upgraded by investment analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report released on Sunday. The firm currently has a $31.69 target price on the construction company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 5.18% from the stock’s current price.

MAS has been the topic of several other reports. Zacks Investment Research cut Masco from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. Jefferies Financial Group reissued a “buy” rating and set a $48.00 target price on shares of Masco in a research note on Wednesday, October 31st. Citigroup reduced their target price on Masco from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, November 1st. Wells Fargo & Co reissued a “buy” rating on shares of Masco in a research note on Tuesday, October 30th. Finally, Longbow Research cut Masco from a “buy” rating to a “neutral” rating in a research note on Friday, October 12th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $42.35.

Shares of MAS traded down $0.36 during mid-day trading on Friday, hitting $30.13. 4,474,499 shares of the company’s stock traded hands, compared to its average volume of 3,833,442. The company has a debt-to-equity ratio of 14.35, a quick ratio of 1.13 and a current ratio of 1.71. Masco has a 1 year low of $27.15 and a 1 year high of $46.44. The stock has a market capitalization of $9.20 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 0.88 and a beta of 1.56.

Masco (NYSE:MAS) last posted its earnings results on Tuesday, October 30th. The construction company reported $0.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.05). Masco had a net margin of 7.65% and a return on equity of 409.25%. The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same period last year, the firm posted $0.50 earnings per share. Masco’s quarterly revenue was up 8.0% on a year-over-year basis. Research analysts forecast that Masco will post 2.41 EPS for the current fiscal year.

In other news, Director Richard A. Manoogian sold 100,000 shares of the stock in a transaction on Monday, November 19th. The stock was sold at an average price of $30.98, for a total value of $3,098,000.00. Following the sale, the director now directly owns 625,961 shares of the company’s stock, valued at $19,392,271.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard A. Manoogian sold 50,000 shares of the stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $31.30, for a total value of $1,565,000.00. Following the completion of the sale, the director now directly owns 575,961 shares in the company, valued at $18,027,579.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 212,900 shares of company stock worth $6,631,092. 1.20% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Masco by 103.4% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,655 shares of the construction company’s stock worth $134,000 after acquiring an additional 1,858 shares during the last quarter. Acropolis Investment Management LLC purchased a new stake in shares of Masco in the third quarter worth $146,000. NuWave Investment Management LLC grew its stake in shares of Masco by 3,600.9% in the third quarter. NuWave Investment Management LLC now owns 4,182 shares of the construction company’s stock worth $153,000 after acquiring an additional 4,069 shares during the last quarter. Kovack Advisors Inc. purchased a new stake in shares of Masco in the third quarter worth $200,000. Finally, Atria Investments LLC purchased a new stake in shares of Masco in the third quarter worth $207,000. 89.27% of the stock is currently owned by hedge funds and other institutional investors.

Masco Company Profile

Masco Corp. engages in the design, manufacture, marketing, and distribution of branded home improvement and building products. It operates through the following business segments: Plumbing Products, Decorative Architectural Products, Cabinetry Products, and Windows & Other Specialty Products. The Plumbing Products segment includes faucets; plumbing fittings and valves; showerheads and hand showers; bathtubs and shower enclosures; toilets; spas, and exercise pools.

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