Kanen Makes a Big Bet on Housing. Should You Follow?
Even with a subdued housing market, the company’s initiatives have sustained growth. Third-quarter sales jumped 22% year over year. That leaves the company well positioned for a housing boom. Kanen may have initiated a position for that reason. For investors, there are other ways to play a housing recovery, too, including big box retailers.
Trex is a more direct way to benefit, however. Trex will next update investors with its fourth-quarter and full-year financial report on Feb. 24. Interested investors should look for signs of sector momentum from management to see if the timing is right.
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Howard Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Trex. The Motley Fool has a disclosure policy.
Kanen Makes a Big Bet on Housing. Should You Follow? was originally published by The Motley Fool
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