Want Some Stability? 3 Industry Stocks to Buy and Hold for Decades

These industry stocks are down right now, but not for long — not after they continue growing after the recession is over.

“Titans of industry” is a phrase you’ve likely heard before, but not necessarily in a stock market context. Yet today, that’s exactly how I’m going to use it. The three industry stocks I’m going to cover are titans in their respective fields. That is why nervous investors may want to consider them.

By holding these three industry stocks for decades, you’re bound to see exponential growth. That would certainly be a reason to buy now while the market is down.

Bombardier

Bombardier (TSX: BBD.B) floundered for a while there, but it seems as though it was one of the industry stocks spreading itself too thin in too many things. The stock decided to get rid of things, like its railway production, and focus solely on business jet production.

This has proven a great move, with the company continuing to see a steady stream of orders for its new and existing products. Yet it remains a solid deal for those wanting to get in, even after its reverse stock split last year.

Shares are up 73.85% in the last year alone, though they’ve fallen back by 11.76% in the last week with markets dropping. Now could be an excellent time to pick up Bombardier stock, especially while it trades at just 15 times earnings.

CP Rail

If you’re looking for a stock that’s growing and not shrinking, then consider Canadian Pacific Railway (TSX: CP). The moment investors were waiting for is here: the Surface Transportation Board (STB) finally approved the acquisition of Kansas City Southern, which has been held in trust for months now.

This officially makes CP stock the only railway to run from Canada down to Mexico. It adds several new revenue streams for CP stock as well, making it an industry stock that’s expanding by leaps and bounds — even after being on the market for decades.

Shares are on par with where they were this time last year but were up by 7% at the time of writing over news of the approval. Even so, while it trades at 28.55 times earnings, long-term investors should still consider this an industry stock they can get for a deal.

Cargojet

While Bombardier stock might be flying business jets, Cargojet (TSX: CJT) flies the really important stuff: products that we’ll need no matter what’s going on in the world. And Cargojet stock continues to expand exponentially, creating partnerships that have led to new distribution locations all over the world.

Not only that, but Cargojet stock has also added new fleets of aircraft to its arsenal, as it’s now the best overnight cargo airline in Canada. Shares of Cargojet stock, however, are down 29% in the last year, with a recession looming over it among other industry stocks.

Still, that means it’s a great time for long-term investors to consider Cargojet stock. It trades at just 10.57 times earnings, with a nice little 1.02% dividend yield. So, it’s certainly another industry stock I’d consider buying while it’s down, because it won’t be down for long.

Fool contributor Amy Legate-Wolfe has positions in Canadian Pacific Railway, and Cargojet. The Motley Fool has positions in and recommends Cargojet. The Motley Fool recommends Canadian Pacific Railway. The Motley Fool has a disclosure policy.

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