Market Sell-Off: 3 Mid-Cap Stocks to Buy Hand Over Fist
Market sell-offs usually create buying opportunities, and the current situation is no different. Suppose you are looking to buy some stocks with good long-term growth potential. In that case, I think locks and security door company Allegion (NYSE: ALLE), electrical connection and protection product company nVent (NYSE: NVT), and advanced materials company Hexcel (NYSE: HXL) are excellent companies to add to a portfolio.
The case for buying the stock rests on the company's ability to benefit from the shift toward electronic security from purely mechanical. The addition of internet of things (IoT) capability to locks and doors significantly enhances the "value add" of Allegion's solutions. For example, connected locks and doors mean building owners can better monitor and control who is moving within their facilities. As such, owners can remotely control who has access to which area of their facility. In doing so, they can improve work productivity and lower the potential for theft.
In common with many other industrial companies, Allegion sees cost pressures from rising raw material costs and a shortfall in component availability. However, management expects pricing actions to more than offset inflation in 2022, and profit margins are expected to make a sequential improvement through the year.
Source Fool.com
