Loop Capital Increases MasterBrand (NYSE:MBC) Price Target to $23.00

MasterBrand (NYSE:MBC) had its price target increased by equities researchers at Loop Capital from $20.00 to $23.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Loop Capital’s target price would suggest a potential upside of 22.73% from the stock’s previous close.

MasterBrand Trading Up 2.6 %

Shares of MasterBrand stock opened at $18.74 on Thursday. MasterBrand has a 52-week low of $10.53 and a 52-week high of $19.10. The company has a quick ratio of 1.43, a current ratio of 2.24 and a debt-to-equity ratio of 0.55. The company’s 50-day simple moving average is $16.75 and its 200-day simple moving average is $16.52. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 13.20 and a beta of 1.49.

MasterBrand (NYSE:MBC) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The business had revenue of $676.50 million for the quarter. MasterBrand had a net margin of 6.69% and a return on equity of 16.58%.

Insider Buying and Selling

In related news, Director Ann F. Hackett sold 17,589 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $15.95, for a total transaction of $280,544.55. Following the sale, the director now owns 45,520 shares of the company’s stock, valued at approximately $726,044. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Ann F. Hackett sold 17,589 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $15.95, for a total transaction of $280,544.55. Following the sale, the director now owns 45,520 shares of the company’s stock, valued at approximately $726,044. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Mark A. Young sold 4,715 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $16.33, for a total transaction of $76,995.95. Following the sale, the chief accounting officer now directly owns 45,148 shares in the company, valued at approximately $737,266.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,806 shares of company stock valued at $365,567. Corporate insiders own 1.38% of the company’s stock.

Institutional Trading of MasterBrand

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of MasterBrand by 3.4% in the first quarter. Vanguard Group Inc. now owns 10,646,110 shares of the company’s stock valued at $199,508,000 after purchasing an additional 346,346 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of MasterBrand by 12.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,546,152 shares of the company’s stock valued at $66,738,000 after purchasing an additional 497,327 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of MasterBrand by 11.3% in the second quarter. Thrivent Financial for Lutherans now owns 4,407,605 shares of the company’s stock valued at $64,703,000 after purchasing an additional 448,840 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of MasterBrand by 23.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,797,378 shares of the company’s stock valued at $26,691,000 after purchasing an additional 338,497 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of MasterBrand by 7.0% in the second quarter. Renaissance Technologies LLC now owns 1,442,018 shares of the company’s stock valued at $21,169,000 after purchasing an additional 94,800 shares in the last quarter. Hedge funds and other 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.