Masonite International (DOOR) Downgraded to Sell at Zacks Investment Research

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Zacks Investment Research downgraded shares of Masonite International (NYSE:DOOR) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

According to Zacks, “Masonite International Corp. is a designer and manufacturer of interior and exterior doors. It offers residential molded, flush, stile and rail, louvre and specially-ordered commercial and architectural doors and exterior residential steel, fiberglass, wood doors and entry systems. The company’s portfolio of brands consist of Masonite(R), Marshfield(R), Premdor(R), Mohawk(R), Megantic(R), Algoma(R), Baillargeon(R), Birchwood Best(R) and Lemieux(R). It markets and sells product to remodeling contractors, builders, homeowners, retail dealers, lumberyards, commercial and general contractors and architects through wholesale and retail distribution channels. Masonite International Corp. is headquartered in Florida US. “

A number of other analysts have also issued reports on DOOR. ValuEngine lowered Masonite International from a hold rating to a sell rating in a research note on Wednesday, July 25th. Royal Bank of Canada set a $76.00 price objective on Masonite International and gave the company a buy rating in a research note on Monday, October 8th. Robert W. Baird set a $72.00 price objective on Masonite International and gave the company a buy rating in a research note on Tuesday, October 16th. Nomura decreased their price objective on Masonite International from $86.00 to $75.00 and set a buy rating on the stock in a research note on Tuesday, October 9th. Finally, B. Riley decreased their price objective on Masonite International from $86.00 to $80.00 and set a buy rating on the stock in a research note on Monday, August 13th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $73.14.

Shares of DOOR opened at $56.87 on Tuesday. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 15.31 and a beta of 1.28. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.54 and a current ratio of 2.51. Masonite International has a 1 year low of $52.81 and a 1 year high of $75.95.

Masonite International (NYSE:DOOR) last released its quarterly earnings data on Wednesday, August 8th. The company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.14. Masonite International had a return on equity of 14.98% and a net margin of 7.43%. The company had revenue of $566.70 million for the quarter, compared to analyst estimates of $560.47 million. During the same period in the previous year, the company posted $0.89 EPS. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. Research analysts anticipate that Masonite International will post 4.05 earnings per share for the current fiscal year.

In related news, insider Robert Edgar Lewis sold 4,500 shares of the business’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $66.44, for a total transaction of $298,980.00. Following the completion of the transaction, the insider now directly owns 16,786 shares in the company, valued at $1,115,261.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director George A. Lorch sold 12,800 shares of the business’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $68.64, for a total value of $878,592.00. Following the transaction, the director now owns 22,832 shares of the company’s stock, valued at $1,567,188.48. The disclosure for this sale can be found here. 2.38% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the stock. Systematic Financial Management LP boosted its holdings in shares of Masonite International by 13.9% in the 3rd quarter. Systematic Financial Management LP now owns 84,825 shares of the company’s stock worth $5,437,000 after purchasing an additional 10,350 shares in the last quarter. Dupont Capital Management Corp purchased a new position in shares of Masonite International in the 3rd quarter worth about $733,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Masonite International in the 3rd quarter worth about $696,000. Meeder Asset Management Inc. boosted its holdings in shares of Masonite International by 1,525.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 12,660 shares of the company’s stock worth $811,000 after purchasing an additional 11,881 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Masonite International by 27.0% in the 3rd quarter. Wells Fargo & Company MN now owns 264,009 shares of the company’s stock worth $16,923,000 after purchasing an additional 56,117 shares in the last quarter. Institutional investors and hedge funds own 96.21% of the company’s stock.

Masonite International Company Profile

Masonite International Corporation designs, manufactures, and distributes interior and exterior doors for the new construction and repair, renovation, and remodeling sectors of the residential and non-residential building construction markets worldwide. The company offers molded panel, flush, stile and rail, routed medium-density fiberboard (MDF), steel, and fiberglass residential doors, as well as architectural interior doors.

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