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Quick Take: March Into Mohawk, Pier 1

NEW YORK ( TheStreet) -- Although housing has been strong in 2013, the homebuilders have been punished this summer. Brian Peery, portfolio manager for the Hennessy Cornerstone Mid Cap 30 Fund, tells TheStreet's Gregg Greenberg about the stocks he prefers.

Peery said he likes Mohawk Industries (MHK - Get Report) due the company's accretive business acquisitions and strong top- and bottom-line growth.

He added that the company has been seeing pent-up demand from homeowners looking to upgrade their homes, something they were not willing to do several years ago when home prices were in decline.

It's also why he continues to like Pier 1 Imports (PIR - Get Report). In general, consumers do not remodel their entire home all in one trip, creating a form of recurring sales for the company, he said.

Although a spike in interest rates would push mortgage rates higher, Peery said that could actually increase demand for housing, rather than decrease it, because potential buyers will be looking to lock-in rates before the hike.

A beneficiary of this would be Standard Pacific Corp. (SPF), a homebuilder and mortgage lender in the Southwest.

Peery said that he remains optimistic on these retailers and homebuilders through the rest of 2013 and expects demand to remain strong.
Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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