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Home Improvement Stocks To Consider Purchasing

Home improvement product retailers and their stocks have been doing quite well during the past year. The outlook for them continues to look good. People continue to do plenty of home renovations and maintenance activities even during a pandemic and economic lockdowns. Decorating the home, doing updates, and DIY projects are driving the sales of home improvement outlets.

The Covid-19 pandemic deserves special mention when discussing strong home improvement retail sales. Working from home and remote schooling become the norm during this time. As a result, many people made renovations and additions to their homes to make it more friendly to work from home and learn from home. This had driven home improvement outlet sales even during an economic recession.

With many businesses and entertainment venues shut, homeowners have looked towards hobbies such as gardening. This has further driven sales for home improvement stores.

The housing market has been remarkably good too. Low mortgage rates helped spur homebuying activity. New homeowners inevitably end up shopping at home improvement outlets for something they may need or want.

There are four stocks in particular in the home improvement category that seem to stand out. They include retail giants like Home Depot and Lowes as well as smaller retail outlets such as Lumber Liquidators and Technoglass Inc.

Lumber Liquidators focuses on selling flooring materials and accessories. Their stock price has risen by almost 60% in a year. The growth is spurred by increased demand for their supplies and an expansion of their flooring installation business. Lumber Liquidators is also attempting to improve its in-store and online shopping experiences to continue its growth.

Lowes saw an increase of about 45% in its stock price during the last year. The company is attempting to make it easier to shop online and pick up in-store with touchless lockers. Lowes is also trying to improve sales to DIY and professional customers to maintain its momentum.

Home Depot saw a smaller but still significant increase of about 27% to its stock price in the past year. Its growth is primarily due to increased construction and renovation activity. Home Depot is also attempting to improve its digital shopping experience and make online shopping with in-store pick up easier and more convenient. As with Lowes, Home Depot has installed pickup lockers for online orders.

Technoglass Inc. saw a whopping 258% increase in its stock price during the past year. It is a vertically integrated firm that manufactures, sells, and installs windows. Technoglass also sells aluminum products to the commercial and residential construction industry. With increased construction and vertical integration, this company's stock is poised to do well into the future.

Home Improvement Stocks To Consider Purchasing
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Home Improvement Stocks To Consider Purchasing

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