Does Home Depot's Record Q1 Make the Stock a Buy?
With people stuck indoors during the worst of the coronavirus pandemic, Home Depot (NYSE: HD) was a surprise winner. Consumers increasingly took to renovation projects, resulting in major gains for this top brick-and-mortar retailer. The trend has yet to abate.
In the most recent quarter (ended May 1), Home Depot posted year-over-over revenue growth of 3.8%. This was on top of 32.7% growth in Q1 2021. What's more impressive is that total sales in the quarter of $38.9 billion, which beat analyst projections, were a record for any Q1 in the company's history.
Does this performance make Home Depot's stock a buy? Let's take a closer look at that important question.
Source Fool.com
