Are Investors Still Underrating Home Improvement Stocks?
It has paid to be in the home improvement industry. The two industry juggernauts Home Depot (NYSE: HD) and Lowe's Companies (NYSE: LOW) have crushed the market over the last 30 years as they've consolidated the industry from mom-and-pop shops across the country and ridden the U.S. economic tailwind. Combined, both businesses now generate over $250 billion in annual sales and are in the top-100 largest companies in the world by market capitalization.
As the American consumer goes, so go Home Depot and Lowe's. But are investors still underrating these home improvement giants? Let's investigate.
The pandemic provided an incredible catalyst for Home Depot and Lowe's. With many people unable to travel and cooped up in their houses, they decided to spend money on home improvement. There was also major inflation in lumber prices, which both companies were able to pass on to their customers. For example, in the first quarter of 2021, Lowe's and Home Depot put up comparable store sales of 24.4% and 29.9%, respectively, in the United States. Both were record figures for the companies and sent their stocks soaring during the pandemic boom.
Source Fool.com
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