Hurricane Helene was a disaster for North Carolina, one that residents are still recovering from in a disturbingly large number of cases. But home improvement giant Home Depot (HD) was in the thick of it as well, and recently took a look back at the year in support it offered, particularly for area veterans. But investors proved a bit concerned here as well, and Home Depot shares slipped fractionally in Wednesday afternoon’s trading.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
A Home Depot store manager named Teresa recalled the immediate aftermath: “We never imagined with the amount of water that was around us that we wouldn’t have any water to drink. No one expected it until it was too late.” And indeed, here, Home Depot parking lots were pressed into service for immediate relief of needs. Hot meals, cell phone chargers, internet access, and even those familiar orange buckets full of cleaning supplies and hygiene needs came out in support.
In what may have been one of the more ironic twists of the event, Home Depot also brought support to 250 veterans living at Asheville’s Veterans Restoration Quarters. Home Depot, only days prior, had completed some renovation work at the Quarters, only to have it largely destroyed by Hurricane Helene. Home Depot stepped up once again, helping turn temporary hotel housing into a “…comfortable, accessible home for the residents who have already endured so much.”
The Amazing Story of the One-Cent Bathroom Vanity
For anyone who has priced cabinetry of late, you know firsthand that that stuff can be pricey. But what if you knew about a way to get a bathroom cabinet set for just one cent? You would call it madness; even a simple, homemade plywood job would run at least a hundred or so plus your time to build it. But that is just what happened in one TikTok video that went viral.
The video in question featured a user paying just one cent for a bathroom cabinet. How? It turns out there are several of these, called “penny items.” A penny item, one report explained is “…a product they are no longer carrying (called recalls in retail). The manager gets a report to pull these items. If they don’t get pulled that’s on the employees. They cannot stop you from buying it if it’s on the self (sic). They will try so they don’t get in trouble but all you have to do is escalate it to the upper management and they’ll cave.”
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 3.52% rally in its share price over the past year, the average HD price target of $447.50 per share implies 9.3% upside potential.
