#7 - Home Depot (NYSE:HD)
Home Depot (NYSE: HD) is one part of a virtual duopoly with Lowe's Companies Inc. (NYSE: LOW) in the United States. HD stock presents an anomaly for investors. The stock is up 11% in the last 12 months, even though revenue and earnings have fallen year-over-year.
But a closer look at the HD chart shows that much of the growth has come in the last three months. That might suggest that investors are becoming bullish on interest rate cuts that could boost the housing market.
However, with the amount and timing of those rate cuts in question, Home Depot still appears to be a buy because the company has successfully integrated e-commerce and omnichannel services into its business model. That's important because home improvement is a niche market that even Amazon.com Inc. (NASDAQ: AMZN) has been unable to successfully crack.
The Home Depot analyst ratings on MarketBeat show that analysts are moving their price targets for the stock higher, and Home Depot offers a solid dividend that has increased for the last 14 years, has a 2.33% yield and an annual payout of $8.36 per share.
About Home Depot
The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.
Read More - Current Price
- $420.00
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 23 Buy Ratings, 6 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $426.00 (1.4% Upside)
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The market in 2024 is likely to be a stock picker's market, as it was in 2023. What does that mean? It means that there are opportunities in every sector, but not every stock will participate in that rally equally, if at all.
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