B.Riley FBR analyst Alex Rygiel reiterated a Hold rating on Masonite International (DOOR) today. The company’s shares opened today at $57.17.
Rygiel observed:
“On 2/19, DOOR announced 4Q18 results which were in line with its pre-announcement on 1/31. The company witnessed an abrupt decline in volume in 4Q18 vs. 3Q18, which has since stabilized. Given the housing market uncertainty in the US and UK, and continued commodity and labor inflation, management reduced its guidance for its long-term growth framework (LTGF) for revenue growth and EBITDA margin. We believe DOOR is taking appropriate cost- cutting actions and operational efficiency initiatives to drive down costs and better position the company for when volume growth returns. However, 2019 is expected to be a relatively flat volume year for DOOR and more meaningful savings will not be witnessed until 2020. We reiterate our Neutral rating and $56 price target.”
According to TipRanks.com, Rygiel is ranked #520 out of 5203 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Masonite International with a $61 average price target, which is a 6.7% upside from current levels. In a report released yesterday, Stephens also maintained a Hold rating on the stock with a $65 price target.
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The company has a one-year high of $73.40 and a one-year low of $43.76. Currently, Masonite International has an average volume of 186.2K.
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Masonite International Corp. designs and manufactures of interior and exterior doors for the residential new construction; the residential repair, renovation and remodeling; and the non-residential building construction markets.
