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Lowe's Hits 52-Week High: Will the Rally Continue in 2018?
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Lowe's Companies, Inc. (LOW - Free Report) seems to be gaining from its strategic acquisitions, solid focus on Pro-Customers and robust shareholder-friendly moves. Additionally, a decent job scenario, buoyant consumer confidence, gradual recovery in the housing market and merchandising initiatives are driving the stock further. Analysts believe that the latest tax reform as well as blissful holiday season may also benefit the stock.
Impressively, shares of Lowe's have hit a 52-week high of $89.33 on Dec 19, though it closed a tad lower at $88.86. In fact, in the past one month, this Zacks Rank #3 (Hold) stock has gained 10.2%, outperforming the Zacks Building Products - Retail industry’s growth of 8.2% that ranks in the top 29% of the Zacks categorized industries (74 out of 256). Also, we are encouraged by the company’s VGM Score of A and long-term earnings growth rate of 14.7%.
Lowe's Canadian business has been performing quite well. The buyout of RONA is likely to further augment its position in the Canadian market. Lowe's Canada entered into a strategic partnership with Solar Brokers Canada to provide solar energy installation services to homeowners under Lowe's Solar banner. Also, the company is streamlining its store portfolio, which along with its strategy of enhancing customer shopping experience and merchandising transformation is likely to generate incremental sales.
In fact, Lowe’s solid focus toward increasing pro-customers base cannot be ignored. In an effort to strengthen its relationship with pro customers, management has concluded the acquisition of Maintenance Supply Headquarters — the distributor of maintenance, repair and operations products. This buyout will help in adding multi-family property management customers.
Of late, Lowe’s has also been focusing on maintenance, repair and operations products, which is evident from its acquisition of Maintenance Supply Headquarters and the earlier buyout of Central Wholesalers. Furthermore, Lowe’s, which competes with The Home Depot, Inc. (HD - Free Report) , is also poised to gain from the acquisitions of Orchard Supply Hardware Stores and ATG Stores.
Other Retail stocks that have hit 52-week high yesterday are Best Buy Co., Inc. (BBY - Free Report) and At Home Group Inc. .
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
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Lowe's Hits 52-Week High: Will the Rally Continue in 2018?
Lowe's Companies, Inc. (LOW - Free Report) seems to be gaining from its strategic acquisitions, solid focus on Pro-Customers and robust shareholder-friendly moves. Additionally, a decent job scenario, buoyant consumer confidence, gradual recovery in the housing market and merchandising initiatives are driving the stock further. Analysts believe that the latest tax reform as well as blissful holiday season may also benefit the stock.
Impressively, shares of Lowe's have hit a 52-week high of $89.33 on Dec 19, though it closed a tad lower at $88.86. In fact, in the past one month, this Zacks Rank #3 (Hold) stock has gained 10.2%, outperforming the Zacks Building Products - Retail industry’s growth of 8.2% that ranks in the top 29% of the Zacks categorized industries (74 out of 256). Also, we are encouraged by the company’s VGM Score of A and long-term earnings growth rate of 14.7%.
Lowe's Canadian business has been performing quite well. The buyout of RONA is likely to further augment its position in the Canadian market. Lowe's Canada entered into a strategic partnership with Solar Brokers Canada to provide solar energy installation services to homeowners under Lowe's Solar banner. Also, the company is streamlining its store portfolio, which along with its strategy of enhancing customer shopping experience and merchandising transformation is likely to generate incremental sales.
In fact, Lowe’s solid focus toward increasing pro-customers base cannot be ignored. In an effort to strengthen its relationship with pro customers, management has concluded the acquisition of Maintenance Supply Headquarters — the distributor of maintenance, repair and operations products. This buyout will help in adding multi-family property management customers.
Of late, Lowe’s has also been focusing on maintenance, repair and operations products, which is evident from its acquisition of Maintenance Supply Headquarters and the earlier buyout of Central Wholesalers. Furthermore, Lowe’s, which competes with The Home Depot, Inc. (HD - Free Report) , is also poised to gain from the acquisitions of Orchard Supply Hardware Stores and ATG Stores.
Other Retail stocks that have hit 52-week high yesterday are Best Buy Co., Inc. (BBY - Free Report) and At Home Group Inc. .
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>