Miter Brands Increases Offer for PGT Innovations Amid Masonite Acquisition

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PGT ($NYSE:PGTI) Innovations is a leading supplier of residential windows, doors and related products in North America. The company has built a strong reputation as a leader in innovation, design, and quality, and its products can be found in both new construction and repair and remodel markets. Recently, Miter Brands has increased its offer to acquire PGT Innovations, following the announcement of Masonite’s deal to acquire JELD-WEN. This move by Miter Brands has been seen as a direct response to Masonite’s proposed acquisition and indicates that Miter Brands is looking to compete in the same market as Masonite. This offer is in stark contrast to Masonite’s proposal which was an all-stock deal and has a lower premium rate of approximately 10%.

This higher offer from Miter Brands has been seen as an attempt to win over PGT Innovations shareholders and outbid Masonite. The increased offer from Miter Brands for PGT Innovations is yet another example of the intense competition in the window and door market. With both Masonite and Miter Brands making aggressive moves to acquire PGT Innovations, it remains to be seen who will ultimately be successful in their bid for the company.

Share Price

On Tuesday, Miter Brands announced their intention to increase their offer for PGT Innovations, a leading manufacturer of windows and doors, amid their acquisition of Masonite International. This increase follows the news that PGT Innovations has recently secured a new supply agreement with Masonite. This news sparked increased interest in the company, which was reflected in the stock opening at $40.5 and closing at $40.2, a decrease of 1.2% from the previous closing price of $40.7.

This announcement is seen as a positive step for PGT Innovations, as it will likely result in increased value for shareholders. The acquisition by Miter Brands is expected to be finalized in the near future, and further details will be released as the process moves forward. Live Quote…

About the Company

Income Snapshot

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Cash Flow Snapshot

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Balance Sheet Snapshot

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Key Ratios Snapshot

Some of the financial key ratios for Pgt Innovations are shown below. More…

Analysis

GoodWhale has completed a thorough analysis of the fundamentals of PGT INNOVATIONS. After careful consideration, our star chart shows that the company has a high health score of 8/10. This means that the company is well-positioned to safely ride out any potential crisis without the risk of bankruptcy. Moreover, PGT INNOVATIONS has proven to be strong in growth and profitability, while being relatively weaker on asset and dividend. Based on these metrics, we have classified it as a ‘gorilla’ — a type of company that has achieved stable and high revenue or earning growth due to its strong competitive advantage. Given the strong financial standing and growth rate of PGT INNOVATIONS, it is likely to be attractive to a wide range of investors including value investors, growth investors, and even hedge funds. Therefore, such an investee is likely to find great success in the market. More…

Peers

There is significant competition between PGT Innovations Inc and its competitors Tyman PLC, Beacon Roofing Supply Inc, Quanex Building Products Corp. All four companies compete for market share in the manufacture and sale of windows, doors, and other building products. PGT Innovations Inc has a significant competitive advantage in its ability to vertically integrate the production of its products. This means that PGT Innovations Inc can control the quality of its products from start to finish, ensuring that its products are of the highest possible quality. Additionally, PGT Innovations Inc has a strong brand name and reputation, which gives it a leg up on its competitors.

– Tyman PLC ($LSE:TYMN)

Tyman PLC is a British-based manufacturer and supplier of door and window products. The company has a market cap of 382.79M as of 2022 and a Return on Equity of 9.35%. Tyman PLC supplies a range of door and window products to the construction, repair and maintenance markets in the United Kingdom, Europe, North America and Asia Pacific. The company’s products include door and window frames, doors, windows, hardware, glass and glazing products.

– Beacon Roofing Supply Inc ($NASDAQ:BECN)

Beacon Roofing Supply Inc is a leading distributor of roofing materials and supplies in the United States. The company has a market cap of 3.54 billion and a return on equity of 13.72%. Beacon Roofing Supply Inc is a publicly traded company on the Nasdaq Stock Market under the ticker symbol BECN. The company was founded in 1928 and is headquartered in Herndon, Virginia. Beacon Roofing Supply Inc operates more than 400 locations in 40 states across the United States. The company offers a wide range of roofing materials and supplies, including asphalt shingles, metal roofing, slate roofing, tile roofing, and more.

– Quanex Building Products Corp ($NYSE:NX)

Quanex Building Products Corporation is a leading provider of engineered products, services and solutions for the global residential new construction, repair and remodeling, and commercial construction markets. The Company operates in three segments: Engineered Components, Cabinets & Windows, and Insulation. Quanex Building Products Corporation is headquartered in Houston, Texas.

As of 2022, Quanex Building Products Corporation had a market cap of 649M and a Return on Equity of 15.63%. The company operates in three segments: Engineered Components, Cabinets & Windows, and Insulation. Quanex Building Products Corporation is headquartered in Houston, Texas.

Summary

PGT Innovations is being targeted by Miter Brands for a buyout. Miter has sweetened its bid in an attempt to outbid Masonite, another company vying for a stake in PGT Innovations. This news has sparked interest among investors who believe that the increased demand for PGT Innovations is driving up share prices.

Analysts are speculating that the company could be worth more in the near future and recommend investors watch the situation closely. Given the high competition and the potential for a higher acquisition price, many investors are optimistic about the company’s future.