Where Will Home Depot Stock Be in 5 Years?
In the past five years, shares of Home Depot (NYSE: HD) produced a total return of 90%. This is a respectable gain. However, it lagged the 102% total return of the S&P 500. It doesn't help that Home Depot currently trades 20% below its peak price.
Investors are probably wondering what the future holds. Where will this top retail stock be in five years? Let's seek to find out.
During its fiscal 2024's first quarter (ended April 28), Home Depot reported a 2.8% same-store sales drop. This was after the company posted a 3.2% decline in fiscal 2023. These data points are certainly discouraging. They indicate weaker consumer spending habits, particularly as they relate to big-ticket items. High interest rates and ongoing inflationary pressures also probably deserve some blame.
Source Fool.com
