Is Masonite International Corp. overvalued or undervalued?

As of 1 October 2023, Masonite International Corp. has moved from fair to attractive. The company is currently undervalued based on its financial metrics. Key ratios include a Price-to-Earnings (P/E) ratio of 15.2, a Price-to-Book (P/B) ratio of 2.1, and a Return on Equity (ROE) of 12.5%.
When compared to peers, Masonite outperforms Jeld-Wen Holding, which has a P/E of 18.5, and is on par with Simpson Manufacturing, which has a P/B of 2.0. This suggests that Masonite is trading at a discount relative to its industry counterparts. Additionally, Masonite's stock performance has been robust, outpacing the Sensex, reinforcing the notion of its undervaluation.