Jefferies Financial Group Cuts Masco (NYSE:MAS) Price Target to $62.00

Masco (NYSE:MAS) had its target price cut by stock analysts at Jefferies Financial Group from $64.00 to $62.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the construction company’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 2.79% from the company’s previous close.

Several other brokerages have also issued reports on MAS. The Goldman Sachs Group increased their target price on Masco from $85.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft started coverage on Masco in a research report on Tuesday, April 1st. They set a “hold” rating and a $71.00 price objective for the company. Wells Fargo & Company reduced their target price on shares of Masco from $82.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. UBS Group dropped their price objective on shares of Masco from $94.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Finally, Citigroup decreased their target price on shares of Masco from $82.00 to $77.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Ten investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Masco has an average rating of “Hold” and an average price target of $73.10.

Masco Stock Performance

Shares of MAS stock opened at $60.32 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.75 and a debt-to-equity ratio of 20.74. The stock has a fifty day moving average of $68.53 and a 200 day moving average of $75.16. The firm has a market capitalization of $12.77 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.94 and a beta of 1.24. Masco has a 52 week low of $56.55 and a 52 week high of $86.70.

Masco (NYSE:MAS) last announced its earnings results on Wednesday, April 23rd. The construction company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). Masco had a net margin of 10.50% and a return on equity of 838.32%. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.84 billion. As a group, research analysts expect that Masco will post 4.34 earnings per share for the current year.

Insider Transactions at Masco

In other news, CEO Keith J. Allman sold 21,723 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $76.36, for a total value of $1,658,768.28. Following the completion of the sale, the chief executive officer now directly owns 60,267 shares of the company’s stock, valued at $4,601,988.12. This represents a 26.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Renee Straber sold 3,139 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $71.78, for a total transaction of $225,317.42. Following the transaction, the vice president now owns 33,027 shares of the company’s stock, valued at approximately $2,370,678.06. This represents a 8.68 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Masco

A number of large investors have recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in shares of Masco during the fourth quarter valued at approximately $27,000. ORG Wealth Partners LLC bought a new stake in shares of Masco during the 4th quarter worth approximately $27,000. Global X Japan Co. Ltd. lifted its stake in shares of Masco by 120.2% during the 1st quarter. Global X Japan Co. Ltd. now owns 381 shares of the construction company’s stock worth $26,000 after acquiring an additional 208 shares during the last quarter. Kestra Investment Management LLC purchased a new position in Masco during the 4th quarter valued at $30,000. Finally, Alpine Bank Wealth Management bought a new position in Masco in the 1st quarter valued at $29,000. 93.91% of the stock is owned by hedge funds and other institutional investors.

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.