Baird Upgrades Masonite International (DOOR) to Outperform
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Baird analyst Timothy Wojs upgraded Masonite International (NYSE: DOOR) from Neutral to Outperform.
The analyst comments "Recent margin expansion, operational improvement, and capital deployment have pushed ROIC above 10% (vs. 6-8% historically), with a path towards mid/high-teens over the next several years via price-cost management, volume leverage, and continued FCF/stock buybacks. Shares have worked off higher estimates, but valuation multiple (7-8X EBITDA) has remained near bottom of our building products coverage, a disconnect with improving margins/returns. Wednesday’s analyst day could result in credible path for continued margin/ROIC improvements, serving as catalyst to revisit shares."
Shares of Masonite International closed at $117.03 yesterday.
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