Are you thinking about buying Home Depot (NYSE: HD) stock? Interested investors are certainly facing something of a conundrum right now. Although shares may still be below their late-2021 pandemic-driven peak, they're up 30% from October's low as well. They're also valued rather richly at a forward-looking price-to-earnings ratio (P/E) of 24. That's well above this ticker's long-term norm.

Is it too late to buy Home Depot stock?

If you're a true long-term investor, no, it isn't.

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Source Fool.com