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3 Stocks That Could Heat Up This Summer

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While it’s always better to think of holding stocks for the long term, it’s tough to deny the fact that we often see certain industries do better at certain parts of the year. During the summer, leisure companies tend to perform a lot stronger, as consumers flow into these industries. With that in mind, which three stocks should investors keep an eye on?

Are you watching the Euros?

The European Football Championship happens every four years. Unfortunately, the COVID-19 pandemic caused organizers to postpone the 2020 edition of the tournament. However, that makes for an exciting summer in the weeks ahead. One company that can help you keep on top of the action is Score Media and Gaming (TSX:SCR)(NASDAQ:SCR). This is a sports media company with a large following in Canada.

In 2019, the company launched theScore Bet. This is Score Media’s online sportsbook, which avid sports fans have been flooding since professional leagues have restarted operations. As I’d predicted earlier this summer, Score Media stock has performed very strongly as of late. Over the past month, Score Media stock has gained nearly 82%. With exciting competitions like the Euros happening right now, it’s not too late to bet on this stock.

This company is boring? It’s a winner!

Although it may be scarier to drive during the winter, more car accidents actually occur during the summer months. With that said, Boyd Group Services (TSX:BYD) would make an excellent investment. The Boyd Group, along with its subsidiaries, operates one of the largest non-franchised auto collision repair centres in North America in terms of locations and sales. The company operates as Boyd Autobody and Glass and Assured Automotive in Canada. In the United States, it is known as Gerber Collision and Glass. As of this writing, Boyd Group has 756 locations.

Over the past five years, Boyd Group stock has been an outstanding performer, gaining more than 200%. That rivals even the top tech stocks on the TSX. Yet, the company is still valued under $5 billion. If Boyd Group can continue growing and adding more locations as it plans to do in the future, investors could see massive gains. This may not be a flashy company, but you could be very happy with the potential gains.

A consistent summer stock

One of the best companies to consider adding to your portfolio during the summer is Canadian Tire (TSX:CTC.A). This company needs no introduction, as it is one of the largest retailers in Canada. If you’ve ever wondered what kind of competitive advantage Canadian Tire has on its competitors, just think of how many people have visited it. It would be very hard to believe that there is a single Canadian adult that hasn’t visited one of its stores for one reason or another.

Canadian Tire was very proactive during the COVID-19 pandemic, which helped sustain its business. In fact, its stock has been a very consistent performer over the past year, gaining about 61% over that period. Canadian Tire also offers a forward dividend yield of 2.34% with a payout ratio of 30.58%. This makes the stock an exciting opportunity for both growth and dividend investors alike.

The post 3 Stocks That Could Heat Up This Summer appeared first on The Motley Fool Canada.

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Fool contributor Jed Lloren has no position in any company mentioned. The Motley Fool recommends Boyd Group Services Inc.


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