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2 Buy-Rated Home Improvement Stocks Surging to New 52-Week Highs -Breaking

by Mike Robinson

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© Reuters. 2 Home-improvement Stocks at New 52-Week Peaks

Home improvement services will continue to be in high demand as people are more comfortable at home. We believe it would be prudent to invest in fundamentally sound stocks for home improvements. Home Depot Lowe’s Companies and (NYSE:) are both achieving new 52 week highs. They also have a ‘Buy’ rating in our proprietary rating system. Continue reading. The COVID-19 epidemic has seen a boom in the home-improvement industry. People are spending more time at their homes and attempting to do more DIY home improvements. It is likely that this momentum will be maintained over the coming months. A recent DEWALT survey found that more than 70% American homeowners plan to complete a home remodel before the end.

Additionally, hybrid work cultures are expected to thrive as COVID-19 Omicron variant-led COVID-19 cases rise. This is expected to boost the home improvement industry’s growth. Research and Markets reports that the market for home improvements services will grow at 6.2% annually by 2030 is an indication.

So, we think it could be wise to add quality home improvement stocks The Home Depot, Inc. (HD) and Lowe’s Companies, Inc. (LOW) to one’s portfolio now. Recent 52-week highs have seen them rise and currently have a B (Buy), rating according to our POWR Ratings.

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