Could This Beaten-Down Stock Help Make You a Fortune?
It's no secret that stocks with exposure to the housing market have had a rough year in 2022. Rising interest rates caused mortgage rates to spike, and concerns about the housing demand cooling down torpedoed the shares of home builders, home improvement companies, and anyone thought of as having some exposure to the sector.
For example, shares of the SPDR S&P Homebuilders ETF (NYSEMKT: XHB) are down 34% from their 52-week high, while industry stalwart Home Depot (NYSE: HD) is down 32% year to date.
Fortune Brands Home & Security (NYSE: FBHS) is an under-the-radar stock with a great track record in the home improvement space. Its shares are down an even more drastic 47% year to date, but the selling looks overdone, and the company continues to look like a long-term winner. Let's take a look at why.
Source Fool.com
