Masonite International (DOOR) Sets New 12-Month Low on Disappointing Earnings

Masonite International Corp (NYSE:DOOR) shares reached a new 52-week low on Wednesday following a dissappointing earnings announcement. The stock traded as low as $51.15 and last traded at $51.75, with a volume of 6633 shares trading hands. The stock had previously closed at $56.87.

The company reported $1.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by ($0.02). The business had revenue of $557.00 million for the quarter, compared to the consensus estimate of $559.88 million. Masonite International had a net margin of 7.43% and a return on equity of 14.98%. Masonite International’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.00 EPS.

Several research firms have recently issued reports on DOOR. Zacks Investment Research lowered shares of Masonite International from a “hold” rating to a “sell” rating in a report on Tuesday. Robert W. Baird set a $72.00 target price on shares of Masonite International and gave the stock a “buy” rating in a report on Tuesday, October 16th. Nomura lowered their target price on shares of Masonite International from $86.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, October 9th. Royal Bank of Canada set a $76.00 target price on shares of Masonite International and gave the stock a “buy” rating in a report on Monday, October 8th. Finally, ValuEngine lowered shares of Masonite International from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Masonite International currently has a consensus rating of “Hold” and an average price target of $73.14.

In related news, insider Robert Edgar Lewis sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $66.44, for a total value of $298,980.00. Following the transaction, the insider now owns 16,786 shares of the company’s stock, valued at approximately $1,115,261.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director George A. Lorch sold 12,800 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $68.64, for a total transaction of $878,592.00. Following the completion of the transaction, the director now directly owns 22,832 shares in the company, valued at approximately $1,567,188.48. The disclosure for this sale can be found here. Company insiders own 2.38% of the company’s stock.

A number of hedge funds have recently bought and sold shares of DOOR. BlueMountain Capital Management LLC increased its stake in Masonite International by 1,412.5% in the 2nd quarter. BlueMountain Capital Management LLC now owns 246,274 shares of the company’s stock worth $17,695,000 after buying an additional 229,991 shares during the period. Wells Fargo & Company MN increased its stake in Masonite International by 149.7% in the 2nd quarter. Wells Fargo & Company MN now owns 207,892 shares of the company’s stock worth $14,937,000 after buying an additional 124,630 shares during the period. Rice Hall James & Associates LLC increased its stake in Masonite International by 33.6% in the 2nd quarter. Rice Hall James & Associates LLC now owns 473,706 shares of the company’s stock worth $34,036,000 after buying an additional 119,195 shares during the period. Speece Thorson Capital Group Inc. increased its stake in Masonite International by 139.6% in the 3rd quarter. Speece Thorson Capital Group Inc. now owns 155,729 shares of the company’s stock worth $9,982,000 after buying an additional 90,736 shares during the period. Finally, Pembroke Management LTD increased its stake in Masonite International by 62.4% in the 2nd quarter. Pembroke Management LTD now owns 206,945 shares of the company’s stock worth $14,869,000 after buying an additional 79,500 shares during the period. 96.21% of the stock is currently owned by institutional investors.

The company has a current ratio of 2.51, a quick ratio of 1.54 and a debt-to-equity ratio of 0.88. The stock has a market cap of $1.56 billion, a P/E ratio of 15.54 and a beta of 1.28.

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About Masonite International (NYSE:DOOR)

Masonite International Corporation designs, manufactures, and distributes interior and exterior doors for the new construction and repair, renovation, and remodeling sectors of the residential and non-residential building construction markets worldwide. The company offers molded panel, flush, stile and rail, routed medium-density fiberboard (MDF), steel, and fiberglass residential doors, as well as architectural interior doors.

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