HomeMarket NewsSmall CapsAnalysts Adjust Forecasts for Masonite After Q3 Results

Analysts Adjust Forecasts for Masonite After Q3 Results

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Masonite International Corporation (NYSE: DOOR) reported disappointing third-quarter results on Tuesday. The company’s adjusted earnings of $2.04 per share fell short of the market’s expected $2.06 per share, and its quarterly sales of $702 million missed estimates of $711.184 million. As a result, Masonite International shares declined by 0.6% to trade at $82.00 on Thursday.

Following the earnings announcement, several analysts revised their price targets for Masonite:

  • Stephens & Co. lowered the price target from $130 to $93 and downgraded the stock from Overweight to Equal-Weight.
  • RBC Capital reduced the price target from $106 to $87 while maintaining a Sector Perform rating.

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