Home Improvement Stocks Breaking Out: (BLDR, LOW, TSCO, GRIF, SHW)
July 14th, 2010 at 5:17 am Posted by
The Dean would like to draw you attention to 5 home improvement stocks with the largest percentage gains.
BLDR $2.67 +$0.20
Builders FirstSource, Inc. (NASDAQ:BLDR), the manufacturer of structural elements used in new home construction, zoomed today by 8.10% to close at $2.67 in a relatively light trading session. The company’s shares have bounced off the recent 52-week low of $2.28 that was reported on July 1. Since then, BLDR shares have risen by 5.4% and are marching toward the resistance point at $3.00. The company has the highest beta (of 1.61) in the industry. The company’s prospects are somewhat poor, given renewed concerns about the double dip in the housing market.
LOW $21.16 +$0.80
Shares of Lowe’s Companies, Inc. (NYSE:LOW), the home improvement giant 1,710 stores covering some 193 million sq. feet of retail space, jumped 3.93% and closed the session at 21.16% in higher-than-average trading. Based on the dynamics in the options markets, LOW is expected to post strong earnings that would increase the share price 10% by August 10, when company releases its earnings reports.
TSCO $67.37 +$1.45
Tractor Supply Company (NASDAQ:TSCO), a company that sells farm and ranch supplies, rose 2.2% in subdued trading. Its stock is currently selling for $67.37. TSCO has performed well this year, posting a 27.2% price increase since the beginning of the year. The shares have been rising against the company’s July 7th business update that announced stronger-than expected revenues and earnings.
GRIF $27.11 +$0.45
The fourth-best performing home improvement stock on Tuesday is Griffin Land & Nurseries (NASDAQ:GRIF). Shares of this $138 million company with real estate and landscape nursery operations jumped 1.69% on Tuesday to close at $27.11 a share. They have just passed their 50-day exponential moving average.
SHW $73.22 +$1.20
The last out of the five best performing home improvement stocks on Tuesday is Sherwin-Williams Company (NYSE:SHW). Shares of this $8.3 billion company that is engaged in the paint and coating business with industrial, commercial and retail customers rose 1.67% to $73.22 in a relatively subpar trading session. SHW has just announced the acquisition of Becker Acroma Industrial Wood Coatings from Sweden.
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