Zacks: Analysts Expect Masonite International Co. (NYSE:DOOR) Will Post Quarterly Sales of $574.56 Million

Posted by Suzanne Cooper on Feb 23rd, 2021

Wall Street brokerages expect Masonite International Co. (NYSE:DOOR) to post $574.56 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Masonite International’s earnings. The highest sales estimate is $576.60 million and the lowest is $573.27 million. Masonite International posted sales of $531.24 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.2%. The business is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, February 24th.

On average, analysts expect that Masonite International will report full-year sales of $2.21 billion for the current year, with estimates ranging from $2.21 billion to $2.22 billion. For the next year, analysts expect that the business will report sales of $2.44 billion, with estimates ranging from $2.40 billion to $2.46 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Masonite International.

A number of analysts recently issued reports on the company. Zacks Investment Research upgraded Masonite International from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research report on Tuesday, January 5th. Wedbush raised their price target on Masonite International from $108.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, February 9th. TheStreet lowered Masonite International from a “b” rating to a “c” rating in a research report on Tuesday, November 3rd. Finally, Northcoast Research upgraded Masonite International from a “neutral” rating to a “buy” rating and set a $130.00 price target on the stock in a research note on Tuesday, February 2nd. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $105.20.

In other Masonite International news, Director Jay Ira Steinfeld purchased 500 shares of the stock in a transaction on Wednesday, November 25th. The shares were bought at an average price of $100.99 per share, for a total transaction of $50,495.00. Following the completion of the transaction, the director now owns 500 shares of the company’s stock, valued at approximately $50,495. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.49% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Marshall Wace LLP purchased a new stake in Masonite International in the 1st quarter valued at about $37,000. Marshall Wace North America L.P. lifted its position in Masonite International by 85.5% in the first quarter. Marshall Wace North America L.P. now owns 1,441 shares of the company’s stock valued at $72,000 after buying an additional 664 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Masonite International by 51.1% in the third quarter. Envestnet Asset Management Inc. now owns 34,436 shares of the company’s stock valued at $3,389,000 after buying an additional 11,651 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in Masonite International in the third quarter valued at about $59,000. Finally, Empowered Funds LLC acquired a new position in Masonite International in the third quarter valued at about $1,543,000. 98.76% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE DOOR traded up $0.81 during midday trading on Tuesday, hitting $110.06. 137,870 shares of the company’s stock traded hands, compared to its average volume of 147,734. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.94 and a current ratio of 2.66. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 62.79 and a beta of 1.76. Masonite International has a 1 year low of $34.88 and a 1 year high of $113.57. The firm has a fifty day moving average of $103.54 and a 200 day moving average of $97.40.

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. It offers molded panel, flush, stile and rail, routed medium-density fiberboard (MDF), steel, and fiberglass residential doors, as well as architectural interior doors.

Zacks: Analysts Expect Masonite International Co. (NYSE:DOOR) Will Post Quarterly Sales of $574.56 Million

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