Masonite International Receives Upgrade to “Buy” Rating by StockNews.com Analysts

On April 11, 2023, stock analysts at StockNews.com announced that they have upgraded the rating of Masonite International (NYSE:DOOR) from a “hold” rating to a “buy” rating. This news comes after the company recently posted its quarterly earnings report and provided shareholders with important updates about the state of their business.

Masonite International Corporation is known for its high-quality interior and exterior doors that are used in both residential homes and commercial buildings. With operations in North America, Europe, and other regions around the world, Masonite has made a name for itself as a leading manufacturer in this industry.

In their most recent quarterly report released on February 22nd, 2023, Masonite reported earnings per share (EPS) of $1.72. Though this result was lower than the consensus estimate given by analysts for $1.88 EPS, revenue during the quarter came in higher than anticipated at $676 million compared to an estimated $641 million. Furthermore, Masonite had impressive returns with ROE of 32.47% and net margins recorded at 7.41%. Revenue also saw a positive increase of 6.3% from the same time period last year while EPS results reached $2.01 back in that year’s corresponding quarter.

Although some investors may take issue with missing projected EPS estimates, it cannot be ignored that overall revenue results were better than expected – which could explain why StockNews.com rated them as a “buy.” It is thought that this positive outlook could lead to higher earnings for investors over the course of the next fiscal year.

Masonite’s four business segments include North American Residential, Europe, Architectural and Corporate & Other – each reporting on specific areas of operation within their organization. The Corporate & Other segment handles unallocated corporate costs as well as few material operating expenses.

This upgrade in rating highlights the many positive trends that the company is experiencing at the moment and should increase investor confidence. It’s important to note that even with these rosy results, it is still necessary to evaluate other factors when making any investment decisions. However, this news could be seen as a significant factor by some who are considering investing their money back into Masonite International Corp.

Equity Analysts Offer Optimistic Outlook for Masonite International’s Future Performance

Masonite International Corp., a global leader in the manufacture of interior and exterior doors for residential and architectural use, has recently been subject to increased attention from equities analysts. The company has received multiple ratings and price target updates from equity research firms offering an optimistic outlook for Masonite International’s future performance.

According to a report dated April 11th, 2023, Robert W. Baird lifted Masonite International’s price target from $108.00 to $110.00 with an “outperform” rating. Deutsche Bank Aktiengesellschaft also raised their price target on shares of Masonite International from $90.00 to $112.00 with a “buy” rating in January 2023, while Stifel Nicolaus upped its target price from $97.00 to $98.00 with a “buy” rating in December 2022.

While Royal Bank of Canada (RBC) did downgrade shares of Masonite International from an “outperform” rating to a “sector perform” rating, it was followed by just one other analyst who gave the stock a hold rating. Following these changes, data retrieved from Bloomberg.com reveals that Masonite International currently retains an average rating of “Moderate Buy.”

Masonite International opened at NYSE DOOR at $87.44 on Tuesday and had marked its 1-year low at $65.71 and 1-year high at $94.98 respectively over the last twelve months.

Apart from manufacturing doors for both residential and architectural use, the company operates through four geographical segments namely North American Residential, Europe, Architectural, Corporate and Other which include unallocated corporate costs as well as any results generated by immaterial operating segments.

In additional news concerning the firm, Director Robert J Byrne sold over 2500 shares of Masonite International stock in March 2023 worth over two hundred thousand dollars ($226k). As of the last filing with the SEC, Byrne held a total of 946 shares in the company, valued at around $86k.

Recent filings from institutional investors and hedge funds have revealed that Pzena Investment Management LLC bought a new stake in Masonite International during the third quarter and Franklin Resources Inc. lifted its stake by almost 70% to 900,663 shares in the final quarter of 2022. Other key institutional investors Alliancebernstein L.P., Barrow Hanley Mewhinney & Strauss LLC and Norway’s sovereign wealth fund Norges Bank also bought and sold shares in recent months.

All eyes are now on Masonite International Corp.’s forthcoming performance as analysts increasingly highlight their confidence in its future prospects.

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