Masco (NYSE:MAS) Given New $74.00 Price Target at Evercore ISI

Masco (NYSE:MAS) had its price target cut by equities researchers at Evercore ISI from $75.00 to $74.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “in-line” rating on the construction company’s stock. Evercore ISI’s price objective would indicate a potential upside of 8.06% from the company’s previous close.

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

Masco Price Performance

Shares of NYSE:MAS traded down $1.26 during midday trading on Thursday, reaching $68.48. 306,707 shares of the company’s stock traded hands, compared to its average volume of 2,049,589. 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 company has a fifty day simple moving average of $75.31 and a two-hundred day simple moving average of $66.74. The company has a market cap of $15.10 billion, a P/E ratio of 16.97, a PEG ratio of 2.27 and a beta of 1.25. Masco has a 1 year low of $47.66 and a 1 year high of $78.94.

Masco (NYSE:MAS) last released its earnings results on Wednesday, April 24th. The construction company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.06. Masco had a net margin of 11.40% and a return on equity of 3,111.50%. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the company earned $0.87 earnings per share. The company’s quarterly revenue was down 2.7% on a year-over-year basis. Equities analysts predict that Masco will post 4.11 EPS for the current fiscal year.

Insider Activity at Masco

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

Institutional Investors Weigh In On Masco

A number of hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in shares of Masco by 62.4% in the 1st quarter. Versant Capital Management Inc now owns 354 shares of the construction company’s stock valued at $28,000 after buying an additional 136 shares during the period. Venturi Wealth Management LLC grew its position in Masco by 70.1% during the first quarter. Venturi Wealth Management LLC now owns 432 shares of the construction company’s stock worth $34,000 after buying an additional 178 shares during the period. Center for Financial Planning Inc. increased its holdings in Masco by 270.6% in the third quarter. Center for Financial Planning Inc. now owns 667 shares of the construction company’s stock valued at $36,000 after buying an additional 487 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in shares of Masco during the 4th quarter worth approximately $39,000. Finally, Union Savings Bank grew its holdings in shares of Masco by 91.7% in the 4th quarter. Union Savings Bank now owns 575 shares of the construction company’s stock worth $39,000 after acquiring an additional 275 shares during the period. Institutional investors and hedge funds own 93.91% of the company’s stock.

About Masco

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.