#3 - Lennox International (NYSE:LII)
The housing market is expected to get a boost as the economy improves. Lennox International Inc. (NYSE: LII) is one of the construction sector stocks to keep an eye on. The company is known for its heating and cooling products. Demand remains strong, as shown by year-over-year topline and bottom-line growth.
LII stock is up more than 34% in 2024, and it’s been finding resistance around $620 per share. That’s one reason analysts give the stock a consensus Hold rating and suggest the stock may drop. However, since the company’s earnings report in late October, analysts have begun to raise their price targets.
If you’re looking to get involved, Lennox stock trades at around 29x forward earnings, which is decidedly lower than the average 41x earnings of the construction sector. And the company’s dividend has been increasing for 15 consecutive years and has increased at an average annual rate of over 12% in the last three years, nearly five times the current rate of inflation.
About Lennox International
Lennox International Inc, together with its subsidiaries, designs, manufactures, and markets a range of products for the heating, ventilation, air conditioning, and refrigeration markets in the United States, Canada, and internationally. The Home Comfort Solutions segment provides furnaces, air conditioners, heat pumps, packaged heating and cooling systems, indoor air quality equipment, comfort control products, and replacement parts and supplies; residential heating, ventilation, cooling equipment, and air conditioning; and evaporator coils and unit heaters under Lennox, Dave Lennox Signature Collection, Armstrong Air, Ducane, AirEase, Concord, MagicPak, Advanced Distributor Products, Allied, Elite Series, Merit Series, Comfort Sync, Healthy Climate, iComfort, ComfortSense, and Lennox Stores name.
Read More - Current Price
- $609.75
- Consensus Rating
- Hold
- Ratings Breakdown
- 5 Buy Ratings, 6 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $583.92 (4.2% Downside)
