4 Purchasing falling home improvement stocks through StockNews

© Reuters. 4 Buying home improvement stocks on dips

Many organizations continue to adopt mixed work structures as a long-term measure, which has been motivating people to upgrade or renovate their homes. This, together with the hot housing market, is expected to maintain the demand for home improvement products. Therefore, we think it might be wise to bet on home improvement stocks Lowe’s (LOW), Stanley Black & Decker (SWK), Mohawk (MHK) and Snap-on (NYSE:). Their current trading prices are lower than their recent highs. Let’s discuss it. The remote work culture brought about by the COVID-19 pandemic is a boon for the home improvement industry, as people prioritize upgrading their houses or moving to larger living spaces in the suburbs. Although the reopening of the economy has reduced the demand for home improvement products to a certain extent, as people focus on outdoor activities, the continued adoption of a mixed work structure by organizations should drive their employees’ continued spending on home improvement.

The hot property market and the trend of buying old houses should continue to drive demand for home improvement products and services. According to the recently released joint market research report, the global home improvement service market is expected to grow at a compound annual growth rate of 6.2% from 2021 to 2030.

With the decline in the unemployment rate, the increase in disposable income should further support the growth of the home improvement industry. Therefore, we believe that the fundamentals of home improvement stocks Lowe’s Companies, Inc. (NYSE:), Stanley Black & Decker, Inc. (SWK), Mohawk Industries , Inc. (NYSE:) and Snap-on Incorporated (SNA) prices have now fallen from their recent highs and may now be reliable bets.

Continue reading stock news

Disclaimer: Converged Media I would like to remind you that the data contained on this website may not be real-time or accurate. All CFDs (stocks, indices, futures) and foreign exchange prices are not provided by exchanges, but by market makers. Therefore, prices may be inaccurate and may be different from actual market prices. This means that prices are indicative and not Suitable for trading purposes. Therefore, Fusion Media is not responsible for any transaction losses that you may suffer as a result of using this data.

Converged Media Fusion Media or anyone related to Fusion Media will not be liable for any loss or damage caused by reliance on the data, quotations, charts, and buy/sell signals contained in this website. Please fully understand the risks and costs associated with financial market transactions. This is one of the most risky forms of investment.

Source link

Recommended For You

About the Author: Agnes Zang