best consumer stocks to buy

Which of these top consumer stocks is best for your portfolio?

Consumer stocks have been largely affected by recent market events. The pandemic happening in the world caused most retail stores to shut down indefinitely. Some retail shops had to close permanently because of the monetary loss. That is why top consumer stocks  have been rather volatile. If a vaccine to solve the pandemic becomes a thing then consumer stocks can move higher. Many sectors are relying on a vaccine being found to operate business like normal.

The problem for top consumer stocks to watch is that cases are not slowing down for the virus. If anything, cases have picked up in July and August. Despite this, many retail locations have reopened. Some consumers are ok with retail shopping at the moment. It can be tricky to know which consumer stocks are the best. That is why it is important to look at quarter results from these companies to know if they are doing well.

For now, the future of retail shopping is unknown. Most of the world is still in fear of catching the virus. Consumers have turned to e-commerce rather than retail shopping for their needs. Regardless there are still many consumer stocks that are on the rise. In this article two consumer stocks that are trending will be highlighted and discussed.

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Consumer Stocks To Buy [Or Avoid] In 2020: Home Depot

The first retail stock to watch is The Home Depot Inc. (HD Stock Report) due to its recent rise in the market. The Home Depot is reported as the largest home improvement retail company in the United States. The Home Depot’s stores supply things like tools, equipment, construction items, wood, and more. The company has locations in many places around North America. In 2019, The Home Depot Inc. brought in $110.2 billion in revenue. The company’s net income was $11.24 billion in the same year.

Consumer stocks related to home improvement have been on the rise. Before the pandemic, HD stock price was at $245 a share on average. But since people are stuck at home, they are buying things to change up their homes. As of August 11th, HD stock is at $276.99 a share. This is up 4.13% from the $266 a share HD stock price was at on August 5th. Overall HD stock is up more than 13% from the $245 it was at back in February.

best consumer stocks to buy (HD stock)

The quarantine is currently showing no signs of stopping. So home improvement continues to be on the rise. Many home improvement companies have already reported an increase in sales. The average homeowner spent $17,140 on home improvements during the pandemic according to Yahoo Finance. If The Home Depot can continue to increase its numbers and see more customers, HD stock price could rise even more. That is why HD stock is a retail stock to watch.

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Consumer Stocks To Buy [Or Avoid] In 2020: Lowe’s Companies Inc.

The next home improvement related retail stock to watch is Lowe’s Companies Inc. (LOW Stock Report). Lowe’s is a home improvement retail company with more than 2000 locations in North America. In 2020, Lowe’s revenue was reported at $72.148 billion. Lowe’s is the second biggest home improvement company in the United States behind The Home Depot. Currently Lowe’s employees more than 300,000 people.

This pandemic has treated LOW stock rather well just like HD stock. In February, LOW stock was at $125 a share on average. Then, LOW stock price fell as low as $66 a share during the peak of the market crash in March. As of August though, LOW stock has managed to reach a new record high. On August 11th, LOW stock reached $155.35 as its new record high share price. LOW stock price is seeing the advantages of home improvement being on the rise during the pandemic.

consumer stocks (LOW stock)

What Now

It is clear that home improvement has been on the rise for many home owners. That is why these consumer stocks have been able to strive and reach new heights. The CEO of HomeAdvisor and Angie’s List, Brandon Ridenour, told Yahoo Finance, “Who amongst us hasn’t sat around their home during this period and thought about how they could make it better? This is almost a universal experience at the moment”. This seems to be the mentality of many homeowners. That is why HD stock and LOW stock are potential consumer stocks to buy. The pandemic is seemingly not ending anytime soon, so home improvement will possibly continue to rise even more.

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