MasterBrand (NYSE:MBC) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded MasterBrand from “sell” to “hold,” but the broader analyst consensus remains “Reduce,” with an average price target of $8. DA Davidson cut its target from $10 to $8 and maintained a neutral rating.
• MasterBrand reported quarterly EPS of $0.10, beating the $0.03 estimate, while revenue of $1.04 billion fell short of the $1.06 billion forecast. Revenue rose 48.3% year over year, though analysts expect a small loss for the full year.
• Shares opened at $6.79 and were reported down 4.1%; the stock’s 52-week range is $6.17 to $13.95.

MasterBrand (NYSE:MBC - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

Several other research analysts have also commented on MBC. DA Davidson lowered their price target on MasterBrand from $10.00 to $8.00 and set a "neutral" rating for the company in a research report on Friday. Zacks Research started coverage on shares of MasterBrand in a report on Tuesday. They issued a "hold" rating on the stock. Finally, Weiss Ratings restated a "sell (d)" rating on shares of MasterBrand in a research report on Friday, October 9th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, MasterBrand currently has a consensus rating of "Reduce" and an average price target of $8.00.

MasterBrand Trading Down 4.1%

Shares of MBC stock opened at $6.79 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.76 and a quick ratio of 1.04. The firm's 50-day simple moving average is $7.16 and its 200-day simple moving average is $8.76. MasterBrand has a 1-year low of $6.17 and a 1-year high of $13.95. The firm has a market cap of $1.38 billion, a P/E ratio of -7.71 and a beta of 1.45.

MasterBrand (NYSE:MBC - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.07. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.06 billion. MasterBrand had a negative net margin of 3.49% and a positive return on equity of 3.65%. The company's revenue was up 48.3% on a year-over-year basis. During the same quarter last year, the business posted $0.33 earnings per share. As a group, equities analysts forecast that MasterBrand will post -0.03 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Kurt Wanninger sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $9.22, for a total value of $461,000.00. Following the completion of the transaction, the executive vice president owned 201,199 shares in the company, valued at $1,855,054.78. The trade was a 19.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its stake in shares of MasterBrand by 28.8% in the third quarter. Russell Investments Group Ltd. now owns 351,777 shares of the company's stock worth $2,462,000 after buying an additional 78,678 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in MasterBrand by 53.9% during the third quarter. Maryland State Retirement & Pension System now owns 45,752 shares of the company's stock worth $320,000 after purchasing an additional 16,030 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in MasterBrand by 5.4% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 111,458 shares of the company's stock worth $780,000 after purchasing an additional 5,677 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of MasterBrand by 9.3% during the 3rd quarter. Pictet Asset Management Holding SA now owns 741,591 shares of the company's stock worth $5,191,000 after purchasing an additional 63,123 shares during the period. Finally, Commonwealth Equity Services LLC lifted its stake in MasterBrand by 86.0% during the third quarter. Commonwealth Equity Services LLC now owns 32,481 shares of the company's stock valued at $227,000 after buying an additional 15,015 shares in the last quarter. 87.32% of the stock is currently owned by hedge funds and other institutional investors.

About MasterBrand

MasterBrand, Inc NYSE: MBC is a manufacturer of residential cabinetry and related products. The company designs and produces cabinets for kitchens, bathrooms, home offices, living areas and other spaces, serving both new construction and remodeling markets.

MasterBrand offers a range of cabinet styles, materials, finishes and price points through a portfolio of brands that includes Aristokraft, Cabinetry by Karman, Decora, Diamond, Homecrest, Kemper, Mantra, Omega and Schrock. Its products are sold through home improvement and specialty retailers, independent dealers, builders and other trade customers.

The company is based in Jasper, Indiana, and serves customers primarily in the United States and Canada.

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