Loop Capital Lowers MasterBrand (NYSE:MBC) Price Target to $19.00

MasterBrand (NYSE:MBC) had its price objective decreased by Loop Capital from $21.00 to $19.00 in a report issued on Wednesday,Benzinga reports. Loop Capital currently has a buy rating on the stock.

MasterBrand Stock Performance

Shares of MasterBrand stock opened at $15.31 on Wednesday. The company has a 50 day moving average of $16.05 and a 200-day moving average of $16.68. The company has a market cap of $1.95 billion, a PE ratio of 13.43 and a beta of 1.58. MasterBrand has a 1-year low of $13.90 and a 1-year high of $20.67. The company has a current ratio of 1.82, a quick ratio of 1.02 and a debt-to-equity ratio of 0.83.

MasterBrand (NYSE:MBC) last posted its earnings results on Tuesday, February 18th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.17). The company had revenue of $667.70 million for the quarter, compared to the consensus estimate of $722.85 million. MasterBrand had a return on equity of 15.51% and a net margin of 5.46%.

Hedge Funds Weigh In On MasterBrand

Institutional investors and hedge funds have recently modified their holdings of the business. CIBC Asset Management Inc raised its position in shares of MasterBrand by 6.1% during the fourth quarter. CIBC Asset Management Inc now owns 12,885 shares of the company’s stock worth $188,000 after purchasing an additional 736 shares during the period. Alliancebernstein L.P. increased 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 purchasing an additional 804 shares during the last quarter. Quest Partners LLC increased its position in shares of MasterBrand by 33.3% during the 3rd quarter. Quest Partners LLC now owns 3,285 shares of the company’s stock valued at $61,000 after purchasing an additional 821 shares during the last quarter. North Growth Management Ltd. increased its position in shares of MasterBrand by 0.6% during the 3rd quarter. North Growth Management Ltd. now owns 180,000 shares of the company’s stock valued at $3,336,000 after purchasing an additional 1,000 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in MasterBrand by 1.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 94,554 shares of the company’s stock worth $1,753,000 after acquiring an additional 1,107 shares during the last quarter. 87.32% of the stock is currently owned by 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.