3 Undervalued Industrial Stocks to Buy Now By StockNews

© Reuters. 3 Undervalued Industrial Stocks to Buy Now

The industrial sector received a major setback amid the COVID-19 pandemic. But it seems to be staging a comeback with the economy’s gradual reopening. Given this backdrop, we think it could be wise to bet on Hitachi (OTC:), Amada (AMDLY), and Belden (NYSE:). They look undervalued at their current price levels. So, let’s have a closer look at these names.The industrial sector received a major setback last year as industrial activities practically came to a halt due to the COVID-19 pandemic. However, with the economy reopening this year thanks to an aggressive vaccination drive, industrial activities are increasing. Total industrial production increased 1.4% in March. The annualized growth in industrial production was 2.5% in the first quarter. And President Biden’s proposed $2 trillion infrastructure plan is expected to provide a further boost to the industrial sector.

Investors’ interest in the industrial stocks is evident from the Industrial Select Sector SPDR Fund’s (XLI) 24.3% gains over the past six months versus the SPDR S&P 500 Trust ETF’s (SPY) 19.6% returns.

Given this backdrop, we think it could be wise to bet on industrial stocks that possess strong financials but are still undervalued. And Hitachi Ltd . (HTHIY), Amada Co., Ltd. (AMDLY) and Belden Inc . (BDC) are solid picks on that front.

Continue reading on StockNews

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Be the first to comment

Leave a Reply

Your email address will not be published.