Red Lion Insulation, a wholly-owned subsidiary of Masco Corporation (MAS) recently announced its plans to expand into the Farmingdale, N.J. market to cater to the Atlantic and Cape May Counties. Hit by Hurricane Sandy, these areas require major insulation works.
Masco Corporation manufactures, sells and installs home improvement and building products. Red Lion Insulation is a part of Masco Contractor Services. Red Lion offers various forms of insulation installations such as fiberglass batt, blown fiberglass, spray foam and cellulose.
Previously, another company of Masco Contractor Services, Western Insulation, announced its plans to expand into Bakerfield, Calif. Western Insulation offers products and services like fiberglass batt and blow, fireplace installation, garage door services, gutter installation and gutter protection.
Masco Corporation will report its second quarter 2013 earnings results on Jul 30, 2013. The Zacks Consensus Estimate for the quarter stands at 19 cents per share. The Zacks Consensus Estimate for fiscal 2013 is 69 cents while that for fiscal 2014 is $1.02 per share.
Masco carries a Zacks Rank #3 (Hold). We are encouraged by Masco’s continued focus on product innovation and cost improvements. The company is benefiting from new home construction and repair and remodel activities. However, weak consumer spending on big ticket remodeling and a sluggish European economy remain headwinds.
Other stocks in the construction sector that are performing well and deserve a mention include PulteGroup, Inc. (PHM), Armstrong World Industries, Inc. (AWI), and USG Corporation (USG). PulteGroup carries a Zacks Rank #1 (Strong Buy) whereas both Armstrong World Industries and USG Corporation carry a Zacks Rank #2 (Buy).
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