Stocks are still worth investing in as a long-term option, outside of COVID-19 affecting the stock market overall. For a more solid investment, flooring stocks never waver in staying strong.
The reason is flooring is always in demand year-round, and it always will be. With more people than ever either buying or selling homes, new floors are a perpetual industry.
Flooring brands are numerous, but many of the most familiar names continue to dominate. If considering investing in a flooring company stock this year, take a look at five of the best for now and into the future, according to finance experts.
#5: Johnsonite (Tarkett)
As one of the most popular flooring companies in the world, Johnsonite is never a bad investment on the NYSE. They go under Tarkett on the stock exchange, which is an easier name to remember.
According to Yahoo! Finance, Tarkett has been holding fairly steady with only minor drops during the COVID-19 financial downfall.
It’s always smart to consider Johnsonite as a future investment since they’ve innovated in bringing more eco-friendly flooring options. This will continue dominating in the marketplace, making them a continual leader.
Not only do they dominate in flooring, but also one of the top choices for wall base. Their durable materials are always an immediate go-to, so invest in Tarkett seriously.
#4: Burke (Mannington Mills)
Those familiar with Burke flooring may not know that they’re owned by Mannington Mills, a leading manufacturer of all types of flooring.
Their comprehensive focus is on commercial and residential flooring with hard and soft surfaces. Based in Salem, New Jersey, they’ve been around a long time and continue being in the top five flooring manufacturers through their Burke line.
Thanks to award-winning product designs and innovation going back to 1927, they’re always a safe stock investment.
Bloomberg has them listed on their company profile pages while giving a reminder they cover more than just flooring. They also deal in healthcare, education, corporate, and retail sectors.
#3: Armstrong Flooring
Anyone who’s ever purchased flooring before is probably familiar with Armstrong. They’re truly the supreme leader in flooring around the globe.
Not only do they offer the most diverse flooring in the world, but they also innovate in bringing more economically sustainable options. Like Johnsonite above, this focus on environmentally friendly flooring products will make them in demand probably forever.
Latter is a solid sign of them always being in demand. Their products are constant top sellers, meaning they should always be considered in your top three flooring stock picks. Officially, they belong to Zacks Building Products.
#2: The Carpet Market Will Be a Hot Stock
Bloomberg revealed back in December the carpet market is soaring in value and expected to hit $73.9 billion by 2026.
Much of this is attributable to high-end technological innovation in the industry. Nylon fiber is said to be one factor behind the newer and more durable materials being developed.
Mannington Mills and Armstrong are two of the leaders in this arena, part of which includes increasingly popular carpet tiles.
With carpet tiling (or modular carpet), it’s possible to get the look of carpet without it looking like how people remember it. Carpet tiles have a soft feel, yet also resemble a hard floor surface to the naked eye.
#1: Vinyl Flooring Will Also Soar in the Stock Market
Another interesting revelation from Bloomberg last fall is the vinyl floor market is also exploding. By 2025, it’ll be at a $42.2 billion market share, which isn’t too surprising considering its material qualities.
Because it’s affordable, durable, and now commonly made without toxic chemicals, it’s the hottest choice in floor materials.
Luxury Vinyl Tile is where the hottest growth will be. Armstrong is at the forefront of this, along with Tarkett and Mannington.
Any of those companies are likely to continue staying stable, no matter what COVID-19 does to the overall economy.