#5 - Lowe’s (NYSE:LOW)
Another peripheral industry to the housing sector is the home improvement retail channel. The duopoly among publicly traded companies is made up of the Lowe’s Companies, Inc. (NYSE: LOW) and The Home Depot, Inc. (NYSE: HD).
Each stock offers investors pros and cons. But based on the performance of each stock in 2023, the pick here is Lowe’s. The company is rapidly eating into Home Depot’s lead in the digital space. And Lowe’s has a strong relationship with the professional sector.
However, investors shouldn’t ignore the do-it-yourself (DIY) market. The company continues to see strength as consumers are choosing to love the home they’re in – particularly if that home comes with a mortgage that’s more than 50% lower than the current rate for a 30-year fixed mortgage.
LOW stock is up just under 12% (11.96%) in 2023 as of August 28. Lowe’s is also a dividend king having raised its dividend in each of the last 50 consecutive years.
About Lowe's Companies
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.
More- Current Price
- $258.28
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 16 Buy Ratings, 10 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $280.85 (8.7% Upside)
