CA - Home Depot: Steady In A Post-Pandemic World
2024-07-22 04:34:20 ET
Summary
- Home Depot has managed stagnating sales and earnings well compared to peers and pandemic beneficiaries.
- The acquisition of SRS Distribution brings growth potential, but the re-rating of shares is largely complete.
- Despite stable financials, a cautious approach is advised amidst stagnant earnings and increased leverage.
It has been quite a while since I last covered shares of Home Depot ( HD ) (HD:CA) ; in fact, it was the fall of 2022 when I concluded that there were no quick fixes. The company was about to see the pain of a slower housing market, which did arrive, but arrived in the form of stagnating sales and earnings for a while....
Home Depot: Steady In A Post-Pandemic World