JBI - Janus International: A Great Long-Term Story But Fairly-Priced Now

2024-02-16 10:57:20 ET

Summary

• We believe that Janus could record sustained organic growth rates over the coming years as all business segments could benefit from several positive elements.
• However, following the last few months' strong rally (1 year performance +37%; year-to-date +15.9%), we believe that the stock already reflects the company’s growth perspective.
• Our DCF model leads to a valuation of USD 14.2.
• We would turn buyers of the stock only below USD 12.0/share.

Janus International Group, Inc. (JBI) is a key supplier of the self-storage industry (63% of 2022 sales), providing products for facility and door automation, access control technologies and roll up and swing doors....

For further details see: