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

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

MasterBrand Stock Performance

Shares of MBC opened at $18.74 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.43 and a current ratio of 2.24. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 13.20 and a beta of 1.49. The company’s 50 day simple moving average is $16.75 and its 200 day simple moving average is $16.52. MasterBrand has a 1 year low of $10.53 and a 1 year high of $19.10.

MasterBrand (NYSE:MBC) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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 Activity at MasterBrand

In related news, CAO Mark A. Young sold 4,715 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $16.33, for a total transaction of $76,995.95. Following the transaction, the chief accounting officer now owns 45,148 shares of the company’s stock, valued at approximately $737,266.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Mark A. Young sold 4,715 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $16.33, for a total transaction of $76,995.95. Following the completion of the transaction, the chief accounting officer now owns 45,148 shares of the company’s stock, valued at approximately $737,266.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ann F. Hackett sold 17,589 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $15.95, for a total transaction of $280,544.55. Following the transaction, the director now directly owns 45,520 shares of the company’s stock, valued at $726,044. This trade 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. Company insiders own 1.38% of the company’s stock.

Hedge Funds Weigh In On MasterBrand

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System increased its position in MasterBrand by 246.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 154,393 shares of the company’s stock worth $2,893,000 after purchasing an additional 109,860 shares during the last quarter. Goldman Sachs Group Inc. increased its position 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 worth $26,691,000 after acquiring an additional 338,497 shares in the last quarter. Vanguard Group Inc. increased its position 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 worth $199,508,000 after acquiring an additional 346,346 shares in the last quarter. Jane Street Group LLC increased its position in shares of MasterBrand by 345.8% in the first quarter. Jane Street Group LLC now owns 207,321 shares of the company’s stock worth $3,885,000 after acquiring an additional 160,812 shares in the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of MasterBrand in the first quarter worth $643,000. Institutional investors and hedge funds own 87.32% of the company’s stock.

MasterBrand Company Profile

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.