Evercore ISI Forecasts Strong Price Appreciation for Masco (NYSE:MAS) Stock

Masco (NYSE:MAS) had its price target boosted by Evercore ISI from $78.00 to $82.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an in-line rating on the construction company’s stock.

MAS has been the subject of several other reports. Robert W. Baird lowered their price objective on shares of Masco from $95.00 to $94.00 and set an “outperform” rating for the company in a research report on Wednesday. Citigroup dropped their price objective on Masco from $73.00 to $66.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. BMO Capital Markets increased their price target on Masco from $78.00 to $85.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group increased their target price on Masco from $89.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, UBS Group boosted their price target on Masco from $89.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $84.85.

Masco Trading Up 0.3 %

Shares of MAS traded up $0.27 during mid-day trading on Wednesday, reaching $80.18. 982,059 shares of the company’s stock traded hands, compared to its average volume of 1,812,301. Masco has a 12 month low of $53.44 and a 12 month high of $86.70. The company has a debt-to-equity ratio of 20.74, a current ratio of 1.83 and a quick ratio of 1.12. The stock has a market cap of $17.30 billion, a P/E ratio of 21.32, a P/E/G ratio of 2.71 and a beta of 1.24. The stock’s 50-day moving average is $81.60 and its two-hundred day moving average is $74.53.

Masco (NYSE:MAS) last released its earnings results on Tuesday, October 29th. The construction company reported $1.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.08. Masco had a return on equity of 615.54% and a net margin of 10.54%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter last year, the firm posted $1.00 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. Research analysts forecast that Masco will post 4.11 earnings per share for the current fiscal year.

Masco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.16 dividend on an annualized basis and a yield of 1.45%. Masco’s dividend payout ratio is presently 30.85%.

Insider Buying and Selling at Masco

In other news, VP Kenneth G. Cole sold 37,814 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $78.32, for a total value of $2,961,592.48. Following the completion of the transaction, the vice president now owns 36,980 shares of the company’s stock, valued at $2,896,273.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Masco

Large investors have recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Masco by 1.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 539,398 shares of the construction company’s stock worth $42,548,000 after purchasing an additional 7,064 shares in the last quarter. Norden Group LLC purchased a new stake in Masco in the 1st quarter worth $389,000. First Trust Direct Indexing L.P. acquired a new position in Masco during the first quarter worth $211,000. SpiderRock Advisors LLC purchased a new position in Masco during the first quarter valued at $268,000. Finally, Diversify Advisory Services LLC acquired a new stake in shares of Masco in the first quarter valued at about $221,000. 93.91% of the stock is currently owned by institutional investors and hedge funds.

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.