Was Jim Cramer Right About These 13 Stocks?

2. Lowe’s Companies Inc. (NYSE:LOW)

Number of Hedge Fund Holders: 70

Cramer was bullish on Lowe’s Companies Inc. (NYSE:LOW) and praised its leadership under Marvin Ellison:

“Lowe’s is really good, and Marvin Ellison is a great CEO. I’ve got to tell you, Lowe’s almost hit its all-time high. Home Depot is great too. Both of those are good; either one is right to buy right now.”

Lowe’s Companies Inc. (NYSE:LOW) is another stock that has failed to meet expectations since then, falling by 15%.

Jim Cramer’s comments from the 26^th of February show that he still has some hopes for the company:

“Marvin Ellison, go[ing] back and forth with him, this was an excellent quarter. Particularly considering rates, although the rates have come down a little bit. And the lack of housing turnover which is typically been the key metric because when there’s housing turnover you go to Lowe’s, you tend to rehabilitate, you make it so you renovate. I was struck by the fact that the numbers were [inaudible] are improving. Because Lowe’s is of the [inaudible] of do it yourself. We had good pro numbers from Home Depot, good pro numbers from Lowe’s, something could be on here David. It is not as bad as feared. These two companies are excellent.

“. . and their [Home Depot] numbers were good, in this environment. Now you gotta look, if you looked at Home Depot, or this, I mean, look everyone was, there was a lot of short money betting against these. I think that when you have a stock that goes down like this you should rethink. But I liked, I liked them.

“I’ve always liked . . .ever since Marv came in. And the Home Depot team, Ted Decker, look these teams, remember these guys take a lot of share too from the mom’s . . .there’s still mom and pop hardware stores that they take. And remember, you’re betting against now they’re Christmas Season, which is going to be, the garden season. Appliances still bad every where.”