Down 30%, Is Home Depot a Buy?
Investors have shied away from certain retail stocks in recent times. The concern is higher inflation may hurt consumers' wallets -- and that translates into lower sales for nonessential items. This trend has hurt Home Depot (NYSE: HD) shares.
The company hasn't defied this year's bear market. Home Depot stock has fallen more than the S&P 500 index. It's dropped 30% compared to a 21% decrease for the S&P 500. At these levels, is the world's biggest home improvement retailer a buy?
First, a little bit of background on Home Depot. The company has two types of clients: Do-it-yourselfers like you and me when we want to paint our living room, for example, and professionals who sell their services. The retailer has a solid track record of growing revenue and profit.
Source Fool.com
