Masco (NYSE:MAS) Price Target Cut to $70.00 by Analysts at Truist Financial

Masco (NYSE:MAS – Get Rating) had its price target cut by Truist Financial from $77.00 to $70.00 in a research note issued to investors on Thursday, The Fly reports.

MAS has been the subject of a number of other research reports. UBS Group started coverage on Masco in a research note on Wednesday, January 19th. They issued a buy rating and a $86.00 price target for the company. The Goldman Sachs Group dropped their price target on Masco from $75.00 to $64.00 and set a buy rating for the company in a research note on Tuesday, April 12th. Wells Fargo & Company lowered their target price on Masco from $70.00 to $60.00 and set an overweight rating for the company in a research note on Thursday, April 21st. Bank of America downgraded Masco from a neutral rating to an underperform rating and lowered their target price for the stock from $75.00 to $55.00 in a research note on Monday, April 11th. Finally, Barclays lowered their target price on Masco from $75.00 to $68.00 in a research note on Thursday, March 31st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Masco presently has a consensus rating of Buy and a consensus price target of $64.69.

Shares of Masco stock opened at $55.24 on Thursday. The firm has a 50-day moving average of $53.38 and a 200-day moving average of $60.93. The stock has a market cap of $13.07 billion, a PE ratio of 33.57, a PEG ratio of 1.16 and a beta of 1.35. Masco has a 52-week low of $48.78 and a 52-week high of $71.06. The company has a debt-to-equity ratio of 52.66, a quick ratio of 1.14 and a current ratio of 1.76.

Masco (NYSE:MAS – Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The construction company reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.10. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.06 billion. Masco had a return on equity of 856.22% and a net margin of 4.90%. Masco’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.89 earnings per share. Equities research analysts predict that Masco will post 4.17 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, March 14th. Investors of record on Friday, February 25th were given a $0.28 dividend. This is a positive change from Masco’s previous quarterly dividend of $0.24. This represents a $1.12 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Thursday, February 24th. Masco’s dividend payout ratio is presently 68.29%.

In related news, CEO Keith J. Allman sold 43,884 shares of the stock in a transaction on Wednesday, February 9th. The stock was sold at an average price of $60.68, for a total value of $2,662,881.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John G. Sznewajs sold 12,447 shares of the stock in a transaction on Wednesday, February 9th. The shares were sold at an average price of $60.25, for a total value of $749,931.75. The disclosure for this sale can be found here. Insiders sold a total of 66,331 shares of company stock valued at $3,911,613 over the last three months. 1.20% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the company. Confluence Wealth Services Inc. purchased a new stake in shares of Masco during the 4th quarter valued at $31,000. Glassman Wealth Services grew its stake in shares of Masco by 551.3% during the 3rd quarter. Glassman Wealth Services now owns 508 shares of the construction company’s stock worth $28,000 after acquiring an additional 430 shares during the period. Steph & Co. bought a new position in shares of Masco during the 4th quarter worth $38,000. Old North State Trust LLC grew its stake in shares of Masco by 194.7% during the 4th quarter. Old North State Trust LLC now owns 896 shares of the construction company’s stock worth $63,000 after acquiring an additional 592 shares during the period. Finally, Smithfield Trust Co grew its stake in shares of Masco by 28.2% during the 3rd quarter. Smithfield Trust Co now owns 910 shares of the construction company’s stock worth $51,000 after acquiring an additional 200 shares during the period. 92.35% of the stock is owned by hedge funds and other institutional investors.

About Masco (Get Rating)

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.

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