Masonite International Tells Investors 2016 New Product Revenue Will Eclipse 2015

Baird's Timothy Wojs reiterated Masonite International Corp (NYSE: DOOR) at Outperform with a price target of $75.00. The reiteration came after Masonite's investor event in Dallas highlighting the company's focus on improving its product mix to higher price products.

"Masonite remains one of our best residential ideas, given improved margins/ROIC this cycle" driven by structural industry changes in recent years, said Wojs.

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The Baird analyst was impressed with the company's incoming product line and claimed "revenue from new products in 2016 would eclipse 2015." The year-over-year gain has a lot to do with Masonite introducing several new products in the second half of 2015, not having as large of an effect on 2015, according to the Wojs.

Masonite closed Wednesday's regular trading session up 0.74 percent at $68.20.