Loop Capital Reiterates Hold Rating on Masco (MAS)

Loop Capital analyst Garik Shmois reiterated a Hold rating and $76.00 price target on Masco (NYSE: MAS).

The analyst commented: "Masco announced that it had reached an agreement to sell Kichler Lighting to Kingswood Capital Management for $125M. The deal, while at a $425M loss relative to what the company paid in 2018, was the right decision as it allows Masco to exit an underperforming asset and sell it to a company that already has an existing lighting business, and hence, it should be a better fit under new ownership. The sale, while not that big in the grand scheme of things, should allow management to increase its focus on its core plumbing and paint businesses. We'd expect M&A within the core segments to be bolt-ons moving forward as opposed to platform deals that Kichler had, back in the day, represented."

For an analyst ratings summary and ratings history on Masco click here. For more ratings news on Masco click here.

Shares of Masco closed at $78.31 yesterday.

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