MasterBrand (NYSE:MBC) Trading Up 8.6% - Still a Buy?

MasterBrand, Inc. (NYSE:MBC - Get Free Report) shot up 8.6% during mid-day trading on Tuesday . The company traded as high as $11.76 and last traded at $11.87. 156,890 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 978,608 shares. The stock had previously closed at $10.93.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MBC. Zelman & Associates reiterated an "underperform" rating on shares of MasterBrand in a report on Monday, April 14th. Loop Capital lowered their price target on MasterBrand from $16.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, May 7th.

MasterBrand Stock Down 1.9%

The company has a market cap of $1.47 billion, a P/E ratio of 14.87 and a beta of 1.43. The company has a quick ratio of 1.10, a current ratio of 1.90 and a debt-to-equity ratio of 0.81. The business's 50 day moving average is $10.78 and its 200 day moving average is $13.20.

MasterBrand (NYSE:MBC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.05). The business had revenue of $660.30 million during the quarter, compared to the consensus estimate of $663.95 million. MasterBrand had a return on equity of 12.60% and a net margin of 3.74%.

MasterBrand declared that its Board of Directors has approved a share repurchase program on Monday, March 17th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to reacquire up to 2.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Hedge Funds Weigh In On MasterBrand

A number of large investors have recently bought and sold shares of MBC. Alliancebernstein L.P. increased its position in shares of MasterBrand by 0.5% during the fourth quarter. Alliancebernstein L.P. now owns 154,249 shares of the company's stock worth $2,254,000 after purchasing an additional 804 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of MasterBrand by 36.4% during 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 in the last quarter. Signaturefd LLC increased its position in shares of MasterBrand by 213.8% during the first quarter. Signaturefd LLC now owns 1,949 shares of the company's stock worth $25,000 after purchasing an additional 1,328 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of MasterBrand by 150.7% during the fourth 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 in the last quarter. Finally, HighTower Advisors LLC increased its position in shares of MasterBrand by 6.2% in the 4th quarter. HighTower Advisors LLC now owns 31,419 shares of the company's stock valued at $459,000 after acquiring an additional 1,841 shares during the period. Institutional investors own 87.32% of the company's stock.

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.