Tag Archives: Housing

[DOOR – Masonite Intl] Reasonable Valuation, So-So Moat

[DOOR – Masonite Intl] This stock got smoked last week post-earnings.  DOOR is now back to where it was at the start of 2014, when the company was generating less than half the pre-tax cash profits it does today. If you’re unfamiliar, Masonite and Jen-Weld (JELD) are vertically integrated duopolists in the US residential interior door manufacturing […]
To access this content, you must purchase a subscription, or log in if you are a subscriber.

[GNRC – Generac] Value Come, Value Go

(2,400 words) In between diaper changes and infant tantrums, I finally got around to looking at GNRC this past week. Given the stock’s ostensibly low earnings multiple and a share price that has gotten hammered over the last several years on what appears to be mostly cyclical reasons, I wanted to like the company but couldn’t […]
To access this content, you must purchase a subscription, or log in if you are a subscriber.

[LEN – Lennar] Valuation Update

LEN’s y/y home delivery growth has decelerated significantly over the last several years (from mid-teens in fy14 to 9.5% LTM), but in chorus with other builders, the company is singing an optimistic refrain post-Trump. “Since November we have seen a combination of renewed optimism, wage and job growth, and consumer confidence. As a result, our homebuilding […]
To access this content, you must purchase a subscription, or log in if you are a subscriber.