Masonite Analyst Re-Rates Stock After Non-Recurring Restructuring Charges For Cost Savings

  • Wedbush reiterated Outperform on Masonite International Corp DOOR with a $115.00 price target.
  • Masonite announced that it would incur one-time restructuring charges during F4Q22, resulting in incremental cost savings in future years
  • Masonite indicated in the F3Q22 conference call that it would look for cost-saving opportunities, especially in the Europe segment. 
  • Management did not indicate where the cost cuts were focused in the release.
  • The analyst will look for more color on the F4Q22 conference call, presumably mid to late February 2023.
  • Price Action: DOOR shares traded lower by 1.15% at $81.85 on the last check Friday.
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