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

Masco (NYSE:MAS) had its price target increased by investment analysts at Evercore ISI from $78.00 to $82.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “in-line” rating on the construction company’s stock. Evercore ISI’s price objective indicates a potential upside of 2.62% from the stock’s current price.

A number of other research analysts have also recently issued reports on the company. Jefferies Financial Group raised their price objective on Masco from $89.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Truist Financial raised their target price on Masco from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Barclays raised their target price on Masco from $88.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. UBS Group raised their target price on Masco from $89.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, StockNews.com raised Masco from a “hold” rating to a “buy” rating in a research note on Monday, October 21st. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Masco currently has an average rating of “Hold” and an average price target of $84.85.

Masco Stock Down 0.5 %

Shares of NYSE:MAS opened at $79.91 on Wednesday. The stock’s 50-day moving average price is $81.56 and its 200-day moving average price is $74.45. Masco has a 12-month low of $51.72 and a 12-month high of $86.70. The stock has a market capitalization of $17.60 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 2.78 and a beta of 1.24. The company has a current ratio of 1.76, a quick ratio of 1.12 and a debt-to-equity ratio of 16.18.

Masco (NYSE:MAS) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $1.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.08. Masco had a return on equity of 602.39% and a net margin of 11.59%. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same period last year, the firm earned $1.00 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts anticipate that Masco will post 4.1 earnings per share for the current year.

Insider Activity

In other news, VP Kenneth G. Cole sold 37,814 shares of Masco stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $78.32, for a total transaction of $2,961,592.48. Following the completion of the transaction, the vice president now directly owns 36,980 shares in the company, valued at approximately $2,896,273.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Masco

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Masco by 2.8% during the first quarter. Vanguard Group Inc. now owns 26,300,591 shares of the construction company’s stock valued at $2,074,591,000 after purchasing an additional 721,117 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Masco by 1.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 9,830,723 shares of the construction company’s stock valued at $655,414,000 after acquiring an additional 181,515 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Masco by 0.9% during the third quarter. Van ECK Associates Corp now owns 2,950,880 shares of the construction company’s stock valued at $241,825,000 after acquiring an additional 26,259 shares in the last quarter. Impax Asset Management Group plc increased its position in shares of Masco by 10.0% during the second quarter. Impax Asset Management Group plc now owns 2,855,056 shares of the construction company’s stock valued at $190,347,000 after acquiring an additional 259,205 shares in the last quarter. Finally, Earnest Partners LLC increased its position in shares of Masco by 16.6% during the first quarter. Earnest Partners LLC now owns 2,245,644 shares of the construction company’s stock valued at $177,136,000 after acquiring an additional 319,029 shares in the last quarter. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

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.