Masco (NYSE:MAS) Price Target Cut to $54.00 by Analysts at Bank of America

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Masco (NYSE:MAS) had its price objective lowered by stock analysts at Bank of America from $56.00 to $54.00 in a research note issued on Wednesday, September 18th, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the construction company’s stock. Bank of America‘s price target indicates a potential upside of 26.11% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Zacks Investment Research raised Masco from a “sell” rating to a “hold” rating and set a $44.00 price target for the company in a report on Monday, July 29th. Buckingham Research cut Masco from a “buy” rating to a “neutral” rating and cut their target price for the stock from $49.00 to $46.00 in a research note on Wednesday, September 18th. Argus raised their target price on Masco from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Royal Bank of Canada set a $45.00 target price on Masco and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, TheStreet cut Masco from a “b” rating to a “c+” rating in a research note on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Masco currently has a consensus rating of “Buy” and a consensus target price of $45.40.

MAS stock traded up $0.97 during mid-day trading on Wednesday, reaching $42.82. 2,839,420 shares of the company’s stock were exchanged, compared to its average volume of 3,225,272. The company has a market cap of $12.39 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 1.92 and a beta of 1.42. The stock’s 50 day moving average is $41.30 and its 200 day moving average is $39.45. The company has a debt-to-equity ratio of 39.03, a current ratio of 1.46 and a quick ratio of 0.96. Masco has a 12-month low of $27.03 and a 12-month high of $43.59.

Masco (NYSE:MAS) last released its earnings results on Thursday, July 25th. The construction company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.07. Masco had a return on equity of 792.80% and a net margin of 8.77%. The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter last year, the business posted $0.75 earnings per share. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, research analysts forecast that Masco will post 2.66 earnings per share for the current fiscal year.

Masco announced that its board has authorized a stock buyback plan on Tuesday, September 17th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the construction company to repurchase up to 16.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

In related news, CFO John G. Sznewajs sold 85,473 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $40.88, for a total value of $3,494,136.24. Following the transaction, the chief financial officer now owns 318,403 shares in the company, valued at approximately $13,016,314.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.17% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its stake in shares of Masco by 4,714.2% during the 2nd quarter. AQR Capital Management LLC now owns 4,520,776 shares of the construction company’s stock worth $177,395,000 after acquiring an additional 4,426,871 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Masco by 3,506.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,530,529 shares of the construction company’s stock worth $177,778,000 after acquiring an additional 4,404,891 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Masco by 119.2% during the 2nd quarter. Invesco Ltd. now owns 4,858,957 shares of the construction company’s stock worth $190,665,000 after acquiring an additional 2,641,856 shares in the last quarter. FMR LLC lifted its stake in Masco by 91.7% in the 1st quarter. FMR LLC now owns 3,095,234 shares of the construction company’s stock valued at $121,673,000 after buying an additional 1,480,245 shares in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its stake in Masco by 23.4% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,484,080 shares of the construction company’s stock valued at $175,955,000 after buying an additional 851,759 shares in the last quarter. Institutional investors own 90.10% of the company’s stock.

Masco Company Profile

Masco Corporation designs, manufactures, and distributes home improvement and building products worldwide. The company's Plumbing Products segment offers faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, toilets, acrylic tubs, shower trays, spas, exercise pools, fitness systems, and other non-decorative plumbing products; brass, copper, and composite plumbing system components; and thermoplastic extrusions, extruded plastic profiles, and specialized fabrications.

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Analyst Recommendations for Masco (NYSE:MAS)

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