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

by Anusuya Lahiri, Benzinga Editor

December 30, 2022 12:47 PM | 1 min read |

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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