#5 - Home Depot (NYSE:HD)
Home improvement stores such as Home Depot (NYSE:HD) have also been labeled as essential stores during the coronavirus pandemic. While some people are confused at the appeal of a home improvement store right now, it’s not that hard to figure out.
The housing market was strong prior to the coronavirus pandemic. And mortgage rates are still down. There may be less activity in the market as social distancing may cause a delay in home showings. But demand looks to be strong coming out of the crisis. And, as more Americans are stuck at home, indoor and outdoor projects will rise to the top of the “to-do” list.
Both of these trends are strong catalysts for a stock that was already outperforming the broader market prior to the sell-off. But another catalyst for Home Depot that gives it a competitive advantage over a rival such as Lowe’s (LOW)is the investment the company made in e-commerce.
Home Depot as embraced the omnichannel model allowing customers to order online and receive the product where they want including curbside or at their home. This should remove an objection from consumers who may find home improvement not only productive, but therapeutic.
HD stock is down about 20% for the year. And the combination of that share price and a nice dividend make Home Depot a bargain that should pay off handsomely for years to come.
Stock #8 forecasts up to $10 billion in annual sales
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
- $420.01
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 23 Buy Ratings, 6 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $426.00 (1.4% Upside)
