Evercore ISI Trims Masco (NYSE:MAS) Target Price to $74.00

Masco (NYSE:MAS) had its target price cut by Evercore ISI from $75.00 to $74.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “in-line” rating on the construction company’s stock. Evercore ISI’s price target indicates a potential upside of 8.06% from the company’s current price.

MAS has been the subject of several other research reports. Truist Financial upped their price target on Masco from $65.00 to $81.00 and gave the company a “buy” rating in a report on Friday, February 9th. Citigroup raised their target price on Masco from $74.00 to $79.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. StockNews.com lowered shares of Masco from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. Royal Bank of Canada increased their price objective on shares of Masco from $73.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Finally, Oppenheimer began coverage on shares of Masco in a research report on Friday, January 19th. They set a “market perform” rating on the stock. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Masco presently has a consensus rating of “Moderate Buy” and an average price target of $69.93.

Masco Stock Performance

Shares of NYSE:MAS traded down $1.26 during midday trading on Thursday, hitting $68.48. The company’s stock had a trading volume of 306,707 shares, compared to its average volume of 2,049,589. Masco has a fifty-two week low of $47.66 and a fifty-two week high of $78.94. The company has a debt-to-equity ratio of 30.05, a quick ratio of 1.08 and a current ratio of 1.68. The stock has a market capitalization of $15.10 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 2.27 and a beta of 1.25. The stock’s 50 day simple moving average is $75.31 and its 200 day simple moving average is $66.74.

Masco (NYSE:MAS) last posted its quarterly earnings data on Wednesday, April 24th. The construction company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.06. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Masco had a return on equity of 3,111.50% and a net margin of 11.40%. Masco’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.87 earnings per share. As a group, research analysts anticipate that Masco will post 4.11 earnings per share for the current year.

Insider Activity at Masco

In other Masco news, VP Richard Allan Marshall sold 5,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $77.05, for a total value of $385,250.00. Following the transaction, the vice president now owns 10,465 shares of the company’s stock, valued at $806,328.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP Kenneth G. Cole sold 36,210 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $74.65, for a total value of $2,703,076.50. Following the completion of the sale, the vice president now owns 58,885 shares of the company’s stock, valued at $4,395,765.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Richard Allan Marshall sold 5,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $77.05, for a total value of $385,250.00. Following the transaction, the vice president now directly owns 10,465 shares in the company, valued at approximately $806,328.25. The disclosure for this sale can be found here. Insiders sold 83,762 shares of company stock valued at $6,337,597 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Masco

Institutional investors and hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its position in Masco by 35.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 59,792 shares of the construction company’s stock worth $4,005,000 after purchasing an additional 15,591 shares during the period. New York State Teachers Retirement System grew its position in shares of Masco by 8.6% during the 4th quarter. New York State Teachers Retirement System now owns 229,507 shares of the construction company’s stock worth $15,372,000 after buying an additional 18,140 shares during the period. Ritholtz Wealth Management raised its stake in shares of Masco by 264.5% during the fourth quarter. Ritholtz Wealth Management now owns 18,219 shares of the construction company’s stock worth $1,220,000 after buying an additional 13,221 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Masco by 6.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 344,141 shares of the construction company’s stock valued at $23,051,000 after buying an additional 21,165 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Masco in the 4th quarter valued at about $2,606,000. Institutional investors own 93.91% of the company’s stock.

Masco Company Profile

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.