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Zacks.com users have recently been watching Home Depot (HD) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Blue-chip stocks refer to industry-leading companies with strong financials, dominant market share, global brand recognition and a track record of steady growth over decades. These tend to be extremely stable even during volatile markets, making them appealing long-term holds.
Home Depot is reporting lower sales and profits, and its near-term outlook isn't very inspiring. It recently acquired two pro-focused companies to expand its market and be ready for a rebound.
In the most recent trading session, Home Depot (HD) closed at $331.97, indicating a -0.67% shift from the previous trading day.
Despite recent corrections HD stock has suffered, I would not recommend bottom-fishing attempts yet. Several technical signs indicate further downside potential in the near term. On the fundamental side, the stock is trading at a high valuation multiple.
Microsoft's growth backs up the stock's premium valuation. Pfizer, NextEra Energy, and Home Depot are industry-leading businesses with quality dividends.
With its roots stretching back to 1978, Home Depot, Inc. (NYSE: HD) has established itself as a stalwart in the home improvement industry. Over the years, its earnings trajectory has been influenced by various factors, including store expansion, comparable sales growth, profit margin dynamics, and strategic share buybacks.
Homeownership trends haven't changed in over 40 years, giving Home Depot a stable market to do business in. The company appeals to homeowners due to the size of its chain, and it's attracted many professional customers as well.
Home Depot (HD) closed the most recent trading day at $333.01, moving -1.77% from the previous trading session.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.