Home improvement giant Home Depot (HD) has made no secret over the years about its involvement in veterans’ projects, especially via its Home Depot Foundation. In fact, the foundation recently announced a major new investment in veterans. The move did not exactly ring true with shareholders, though, as shares slid modestly in Thursday afternoon’s trading.
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The Home Depot Foundation recently, reports note, spent over $30 million on new grants for veterans, with a particular focus on “…maintain(ing) safe, accessible housing.” This focus called on several individual parts, including improving homes with smart home technology, engaging in repairs for systems already in place—smart or otherwise—and offering help for those coming out of homelessness.
The foundation made another 44 grants, reports noted, and adds to Home Depot’s position to deliver $750 million to veterans’ causes before 2030 hits. With housing demand still outstripping supply, and rent costs continuing to surge, Home Depot’s moves to help keep veterans sheltered make a particular sense.
The Black Friday Ad Goes Live
For everyone else, meanwhile, there is the matter of the Black Friday ad to consider. We all know Black Friday, even if in recent years its importance has slipped somewhat as people no longer wait for the day after Thanksgiving to start shopping for their Christmas, Hanukkah and Kwanzaa gifts.
But Home Depot’s new ad will offer up plenty of discounts on several potential gifts. For instance, shoppers can save $100 on a Husky tool storage mobile workbench cabinet with nine drawers. For those who want the biggest savings, try nearly half off a Milwaukee M18 18-volt cordless combo kit for $649, marked down from $1,199. Many more deals, of course, will await shoppers ahead of and during the big day.
Is Home Depot a Good Long-Term Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on HD stock based on 19 Buys and six Holds assigned in the past three months, as indicated by the graphic below. After a 6.41% loss in its share price over the past year, the average HD price target of $446.30 per share implies 20.75% upside potential.
