Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

More R&R Won't Mean Much Rest For Norcraft

As residential property values continue to recover, it should only mean good things for demand for Norcraft's (NYSE:NCFT) kitchen and bathroom cabinets. One of the top five cabinetmakers in the country, and one of the top three in the dealer channel, Norcraft's sales are leveraged in part to improving remodel and renovation demand (which is, in turn, leveraged to improving home values). With experienced management and a tailwind to margins from higher capacity utilization, Norcraft shares still appear to be priced to offer some upside to the ongoing housing recovery.

A Different Model With A Familiar Product

Cabinets are commonplace and likely not something that most readers give a lot of notice unless/until they've recently gone through...

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