This Cheap Stock Could Be a Smart Buy Today
They say a rising tide lifts all boats, and for Lowe's (NYSE: LOW) this appears to be the case. The strong housing market, supported by low interest rates and short supply, is driving demand for the types of products this home-improvement chain offers.
Even with this attractive backdrop, Lowe's stock currently sells at a bargain price today, sporting a forward price-to-earnings (P/E) ratio of just 18. This is significantly less than the S&P 500, which trades at 22. But Lowe's isn't just a value play; it's also a high-quality company that is making the right strategic moves.
Here's why this cheap home-improvement retailer could be a smart buy today.
Source Fool.com
