MasterBrand (NYSE:MBC) Now Covered by Zacks Research

Stock analysts at Zacks Research began coverage on shares of MasterBrand (NYSE:MBC) in a research report issued on Tuesday, Zacks reports. The firm set a “hold” rating on the stock.

A number of other research firms have also weighed in on MBC. Weiss Ratings reiterated a “sell (d)” rating on shares of MasterBrand in a research note on Friday, October 9th. DA Davidson reiterated a “neutral” rating and set a $10.00 target price on shares of MasterBrand in a research report on Tuesday, October 27th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $10.00.

MasterBrand Price Performance

Shares of MBC stock opened at $7.51 on Tuesday. MasterBrand has a 52-week low of $6.17 and a 52-week high of $13.95. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.04 and a current ratio of 1.76. The firm has a market capitalization of $1.53 billion, a P/E ratio of -10.88 and a beta of 1.45. The stock has a 50 day moving average price of $7.23 and a 200 day moving average price of $8.82.

MasterBrand (NYSE:MBC) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.05). The business had revenue of $815.20 million for the quarter, compared to analysts’ expectations of $743.05 million. MasterBrand had a negative net margin of 3.49% and a positive return on equity of 3.65%. MasterBrand’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 EPS. As a group, sell-side analysts predict that MasterBrand will post -0.03 earnings per share for the current year.

Insider Activity at MasterBrand

In other news, EVP Kurt Wanninger sold 50,000 shares of MasterBrand stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $9.22, for a total transaction of $461,000.00. Following the completion of the sale, the executive vice president owned 201,199 shares of the company’s stock, valued at approximately $1,855,054.78. The trade was a 19.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.80% of the company’s stock.

Institutional Trading of MasterBrand

Large investors have recently modified their holdings of the company. Pictet Asset Management Holding SA grew its position in shares of MasterBrand by 9.3% during the 3rd quarter. Pictet Asset Management Holding SA now owns 741,591 shares of the company’s stock worth $5,191,000 after buying an additional 63,123 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of MasterBrand by 86.0% in the third quarter. Commonwealth Equity Services LLC now owns 32,481 shares of the company’s stock valued at $227,000 after acquiring an additional 15,015 shares in the last quarter. Chicago Partners Investment Group LLC bought a new stake in shares of MasterBrand in the third quarter valued at about $78,000. Pzena Investment Management LLC raised its holdings in shares of MasterBrand by 11.1% in the third quarter. Pzena Investment Management LLC now owns 17,027,986 shares of the company’s stock valued at $119,196,000 after acquiring an additional 1,698,503 shares in the last quarter. Finally, VestGen Advisors LLC purchased a new stake in MasterBrand in the third quarter worth about $71,000. Hedge funds and other institutional investors own 87.32% of the company’s stock.

About MasterBrand

MasterBrand, Inc (NYSE:MBC) is a manufacturer of residential cabinetry and related products. The company designs and produces cabinets for kitchens, bathrooms, home offices, living areas and other spaces, serving both new construction and remodeling markets.

MasterBrand offers a range of cabinet styles, materials, finishes and price points through a portfolio of brands that includes Aristokraft, Cabinetry by Karman, Decora, Diamond, Homecrest, Kemper, Mantra, Omega and Schrock. Its products are sold through home improvement and specialty retailers, independent dealers, builders and other trade customers.

The company is based in Jasper, Indiana, and serves customers primarily in the United States and Canada.