#3 - Home Depot (NYSE:HD)
The Home Depot (NYSE:HD) was one of the biggest pandemic winners as millions of Americans used their extra time to spruce up their homes. It’s logical to expect that a surge in new home buying would be beneficial to a company that will provide new homeowners with the material they need to paint rooms, landscape their yard, and more.
One of the reasons for Home Depot’s success is that it has successfully pivoted to an omnichannel model. The company was already experiencing growth in its e-commerce channel prior to the pandemic and that set the company up for success during the pandemic. This included the ability to provide contactless delivery for its consumers. Those are trends that are going to continue long after the pandemic ends.
Of course the strength of the economic recovery will impact the company’s 2021 outlook. Investors will want to listen to what management has to say on the earnings call later this month. But as a long-term stock that offers both growth and value, HD stock is a logical buy.
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
- $392.60
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 23 Buy Ratings, 6 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $426.00 (8.5% Upside)
