MasterBrand (NYSE:MBC) Price Target Lowered to $16.00 at Loop Capital

MasterBrand (NYSE:MBC - Get Free Report) had its price objective lowered by investment analysts at Loop Capital from $19.00 to $16.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Loop Capital's price objective suggests a potential upside of 33.91% from the stock's previous close.

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

MasterBrand Price Performance

MasterBrand stock traded up $0.11 during midday trading on Monday, hitting $11.95. 39,489 shares of the company's stock were exchanged, compared to its average volume of 1,047,943. The company has a market cap of $1.53 billion, a P/E ratio of 12.32 and a beta of 1.70. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.02 and a current ratio of 1.65. The stock has a 50-day moving average price of $12.97 and a two-hundred day moving average price of $15.43. MasterBrand has a 52-week low of $10.84 and a 52-week high of $20.67.

MasterBrand (NYSE:MBC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.17). MasterBrand had a return on equity of 13.89% and a net margin of 4.66%. The company had revenue of $667.70 million during the quarter, compared to the consensus estimate of $722.85 million.

MasterBrand announced that its Board of Directors has initiated a stock buyback program on Monday, March 17th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 2.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at MasterBrand

In other MasterBrand news, Director Juliana L. Chugg acquired 6,989 shares of the business's stock in a transaction dated Monday, February 24th. The stock was bought at an average price of $14.17 per share, with a total value of $99,034.13. Following the purchase, the director now owns 33,424 shares of the company's stock, valued at approximately $473,618.08. This trade represents a 26.44 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Crisci bought 20,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $14.08 per share, for a total transaction of $281,600.00. Following the transaction, the director now 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 disclosure for this purchase can be found here. Company insiders own 1.38% of the company's stock.

Institutional Investors Weigh In On MasterBrand

Several institutional investors have recently bought and sold shares of MBC. Smartleaf Asset Management LLC increased its stake in MasterBrand by 150.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,577 shares of the company's stock worth $37,000 after purchasing an additional 1,549 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of MasterBrand by 36.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 4,821 shares of the company's stock worth $70,000 after purchasing an additional 1,286 shares during the last quarter. KBC Group NV increased its stake in shares of MasterBrand by 52.0% in the fourth quarter. KBC Group NV now owns 5,800 shares of the company's stock worth $85,000 after buying an additional 1,983 shares during the period. Caxton Associates LP bought a new stake in MasterBrand during the 4th quarter valued at $148,000. Finally, Proficio Capital Partners LLC purchased a new stake in MasterBrand during the 4th quarter valued at $150,000. 87.32% of the stock is currently owned by hedge funds and other institutional investors.

About MasterBrand

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.

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