Loop Capital Cuts MasterBrand (NYSE:MBC) Price Target to $15.00

MasterBrand (NYSE:MBC - Free Report) had its target price cut by Loop Capital from $16.00 to $15.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Separately, Zelman & Associates reiterated an "underperform" rating on shares of MasterBrand in a research report on Monday, April 14th.

MasterBrand Price Performance

MasterBrand stock traded up $1.04 during mid-day trading on Wednesday, hitting $10.91. The stock had a trading volume of 849,852 shares, compared to its average volume of 961,125. MasterBrand has a one year low of $9.78 and a one year high of $20.67. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $1.38 billion, a P/E ratio of 11.24 and a beta of 1.74. The firm's 50 day moving average is $12.43 and its 200 day moving average is $14.95.

MasterBrand (NYSE:MBC - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.05). MasterBrand had a net margin of 4.66% and a return on equity of 13.89%. The firm had revenue of $660.30 million for the quarter, compared to analysts' expectations of $663.95 million.

MasterBrand declared that its board has authorized a stock buyback plan on Monday, March 17th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

In other news, Director Robert Crisci acquired 20,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $14.08 per share, for a total transaction of $281,600.00. Following the completion of the transaction, the director now directly owns 66,435 shares in the company, valued at $935,404.80. This trade represents a 43.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Juliana L. Chugg bought 6,989 shares of MasterBrand stock in a transaction on Monday, February 24th. The shares were bought at an average price of $14.17 per share, for a total transaction of $99,034.13. Following the acquisition, the director now owns 33,424 shares of the company's stock, valued at approximately $473,618.08. The trade was a 26.44% increase in their position. The disclosure for this purchase can be found here. 1.38% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MasterBrand

Several institutional investors have recently bought and sold shares of MBC. CIBC Asset Management Inc increased its holdings in shares of MasterBrand by 6.1% during the 4th quarter. CIBC Asset Management Inc now owns 12,885 shares of the company's stock worth $188,000 after acquiring an additional 736 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of MasterBrand by 0.5% during the 4th quarter. Alliancebernstein L.P. now owns 154,249 shares of the company's stock valued at $2,254,000 after acquiring an additional 804 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of MasterBrand by 36.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 4,821 shares of the company's stock valued at $70,000 after acquiring an additional 1,286 shares during the period. Signaturefd LLC lifted its position in shares of MasterBrand by 213.8% during the 1st quarter. Signaturefd LLC now owns 1,949 shares of the company's stock worth $25,000 after buying an additional 1,328 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in MasterBrand by 150.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company's stock valued at $37,000 after purchasing an additional 1,549 shares during the last quarter. Institutional investors own 87.32% of the company's stock.

MasterBrand Company Profile

MasterBrand, Inc engages in the manufacture and sale of residential cabinets in the United States and Canada. The company offers a range of residential cabinetry products for the kitchen, bathroom, and other parts of the home. It sells its products to remodeling and new construction markets through dealers, retailers, and builders.