Masco (NYSE:MAS) Given New $74.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has raised its price target for Masco from $65.00 to $74.00, indicating a potential upside of 6.60% from the current stock price.
• Despite the increase, the firm maintains a "neutral" rating, while other analysts have set varying price targets, with the consensus target at $73.40.
• Masco reported an earnings per share of $1.30 for the last quarter, exceeding expectations, but noted a 1.9% decline in revenue year over year.

Masco (NYSE:MAS - Get Free Report) had its price target raised by JPMorgan Chase & Co. from $65.00 to $74.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the construction company's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 6.60% from the stock's current price.

Several other equities analysts also recently weighed in on the company. Evercore ISI cut their target price on Masco from $82.00 to $71.00 and set an "in-line" rating on the stock in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Masco in a research report on Wednesday, May 28th. Truist Financial cut their price objective on Masco from $92.00 to $75.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company upped their price objective on Masco from $65.00 to $73.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. Finally, Loop Capital set a $62.00 price objective on Masco and gave the company a "hold" rating in a research report on Thursday, April 24th. Twelve analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $73.40.

Masco Price Performance

NYSE MAS traded up $0.59 during trading hours on Monday, reaching $69.42. The company's stock had a trading volume of 486,909 shares, compared to its average volume of 2,139,070. The firm's 50-day moving average price is $64.65 and its 200-day moving average price is $67.96. The company has a quick ratio of 1.14, a current ratio of 1.82 and a debt-to-equity ratio of 19.63. Masco has a 1 year low of $56.55 and a 1 year high of $86.70. The company has a market capitalization of $14.64 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 2.52 and a beta of 1.16.

Masco (NYSE:MAS - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.08 by $0.22. Masco had a return on equity of 1,519.31% and a net margin of 10.51%. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the previous year, the company posted $1.20 EPS. The company's revenue was down 1.9% compared to the same quarter last year. On average, equities research analysts predict that Masco will post 4.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Masco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HB Wealth Management LLC raised its stake in shares of Masco by 2.9% in the second quarter. HB Wealth Management LLC now owns 5,522 shares of the construction company's stock worth $355,000 after purchasing an additional 157 shares during the last quarter. Harvest Investment Advisors LLC raised its stake in shares of Masco by 0.7% in the first quarter. Harvest Investment Advisors LLC now owns 23,063 shares of the construction company's stock worth $1,604,000 after purchasing an additional 165 shares during the last quarter. Applied Finance Capital Management LLC raised its stake in shares of Masco by 3.2% in the second quarter. Applied Finance Capital Management LLC now owns 5,593 shares of the construction company's stock worth $360,000 after purchasing an additional 173 shares during the last quarter. Transcend Capital Advisors LLC raised its stake in shares of Masco by 2.8% in the second quarter. Transcend Capital Advisors LLC now owns 6,503 shares of the construction company's stock worth $419,000 after purchasing an additional 176 shares during the last quarter. Finally, Abundance Wealth Counselors raised its stake in shares of Masco by 1.0% in the second quarter. Abundance Wealth Counselors now owns 18,651 shares of the construction company's stock worth $1,242,000 after purchasing an additional 184 shares during the last quarter. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

Masco Company Profile

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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