Masco (NYSE:MAS) Price Target Raised to $79.00

Masco (NYSE:MAS) had its price objective raised by Royal Bank of Canada from $78.00 to $79.00 in a research note released on Friday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the construction company’s stock.

A number of other equities research analysts have also weighed in on the stock. Citigroup cut their target price on shares of Masco from $73.00 to $66.00 and set a neutral rating on the stock in a research note on Thursday, July 11th. Loop Capital cut their target price on shares of Masco from $79.00 to $76.00 and set a hold rating on the stock in a research note on Thursday, April 25th. Barclays cut their target price on shares of Masco from $87.00 to $79.00 and set an overweight rating on the stock in a research note on Friday, July 12th. StockNews.com lowered shares of Masco from a buy rating to a hold rating in a research note on Friday, May 3rd. Finally, Truist Financial boosted their price objective on shares of Masco from $81.00 to $84.00 and gave the stock a buy rating in a research note on Friday. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $75.77.

Masco Price Performance

Shares of Masco stock opened at $77.69 on Friday. The company’s fifty day simple moving average is $68.95 and its two-hundred day simple moving average is $71.37. Masco has a 12-month low of $47.66 and a 12-month high of $78.94. The company has a quick ratio of 1.12, a current ratio of 1.76 and a debt-to-equity ratio of 16.18. The firm has a market cap of $17.11 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24.

Masco (NYSE:MAS) last announced its earnings results on Thursday, July 25th. The construction company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.02. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.10 billion. Masco had a net margin of 11.59% and a return on equity of 602.39%. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 EPS. As a group, equities analysts expect that Masco will post 4.08 EPS for the current year.

Masco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Friday, August 2nd will be given a $0.29 dividend. The ex-dividend date is Friday, August 2nd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.49%. Masco’s payout ratio is currently 28.43%.

Hedge Funds Weigh In On Masco

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jackson Creek Investment Advisors LLC bought a new position in shares of Masco during the fourth quarter worth $627,000. Norges Bank bought a new position in Masco during the fourth quarter valued at $122,144,000. Intech Investment Management LLC bought a new position in Masco during the fourth quarter valued at $975,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in Masco by 14.3% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 542,096 shares of the construction company’s stock valued at $42,245,000 after purchasing an additional 67,806 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Masco during the first quarter valued at $1,903,000. Institutional investors 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.