(C) Reuters. 3 Home Goods Stocks for Summer Improvements
Driven by the pandemic, home improvement gained popularity and this trend isn’t expected to change anytime soon. Home goods stocks should see their shares rise as the summer provides the perfect environment for more home improvements, which is why David Cohne is recommending Home Depot (NYSE:HD), Lowe’s Companies (NYSE:LOW), and Mohawk Industries (NYSE:MHK).As most people spent the majority of 2020 stuck at home, many realized that they wanted to spruce up their surroundings. If they were going to spend so much time at home, why not take some of that extra free time from not commuting and add some upgrades into their homes. This created a strong demand for a variety of products, such as lumber, furniture, carpet, and tools.
As the economy has continued to open up and return to normal, more people are headed back into their offices. However, the demand for home improvement hasn’t slowed down. Driven by low rates, fiscal stimulus, and a strong housing market, demand for home goods is still high. As we head into the summer, I believe there will be a further uptick in demand as the warmer months are a great time to do repairs and remodeling.
This demand should keep driving growth higher for home goods stores. So, to find home goods stocks with a great chance of moving higher in the upcoming months, I ran a screen for Buy or Strong Buy stocks in our proprietary POWR Ratings system. Here are three top home goods stocks to consider adding to your portfolio: Home Depot, Inc. (HD), Lowe’s Companies, Inc. (LOW), and Mohawk Industries, Inc. (MHK).
3 Home Goods Stocks for Summer Improvements
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