1 Growth Stock Down 33% to Buy Right Now
Hot water heaters isn't exactly the sort of headline-grabbing business that attracts investors, but that's precisely why you should consider A.O. Smith (NYSE: AOS), a Fortune 500 company best known for its water heaters and water treatment systems.
Investing legend Peter Lynch loved businesses like this, and recommended buying stocks of boring companies. He once wrote, "The perfect stock would be attached to the perfect company, and the perfect company has to be engaged in a perfectly simple business, and the perfectly simple business ought to have a perfectly boring name."
That describes A.O. Smith to a T, down to the unassuming name. Yet with the housing market looking like it's in free fall -- after all, water heaters are a product closely aligned with housing -- let's look more closely at why an investor would want to jump into a stock that is down 33% year to date.
Source Fool.com
