Can Home Depot Continue Its Uptrend?
T = Trends for a Stock’s Movement
Home Depot is a home improvement retailer that operates Home Depot stores, which are full-service, warehouse-style stores. The company sells an assortment of building materials, home improvement, lawn and garden products, and provides a number of services. Home Depot stores serve three primary customer groups: do-it-yourself customers, do-it-for-me customers, and professional customers. Construction and improvement of new and existing homes and businesses is on the rise as consumers and business owners are investing where they operate. Look for the home and business improvement trend to continue and for Home Depot to be a leading provider of the products and services consumers and professionals demand.
Home Depot reported earnings that beat analyst expectations on Tuesday morning, leading the home-improvement retail chain to raise its full-year expectations. The company cited the rebounding housing market as a reason for the growth. In May, home prices rose and Home Depot reported it was getting more professional customers than individual homeowners for the first time since the economic downturn. Earnings per share came in at $1.24, beating the average forecast of $1.21, and sales grew 9.5 percent to $22.5 billion.