Can Home Depot Stock Double in 5 Years?
Higher interest rates over the past couple of years, unsurprisingly, have impacted the housing market and any adjacent industries. Home Depot (NYSE: HD) has been negatively affected by this. After posting double-digit revenue growth in fiscal 2020 and fiscal 2021, its gains have been more muted in recent years.Nonetheless, the retail stock has done pretty well. It's up 86% in the past five years (as of March 27), which lags the broader S&P 500 index. Investors might be eyeing the shares as they trade 16% off their peak from last December. But can Home Depot stock double over the next five years? Here's what you need to know about the leader in home improvement.Continue reading
Higher interest rates over the past couple of years, unsurprisingly, have impacted the housing market and any adjacent industries. Home Depot (NYSE: HD) has been negatively affected by this. After posting double-digit revenue growth in fiscal 2020 and fiscal 2021, its gains have been more muted in recent years.
Nonetheless, the retail stock has done pretty well. It's up 86% in the past five years (as of March 27), which lags the broader S&P 500 index. Investors might be eyeing the shares as they trade 16% off their peak from last December.
But can Home Depot stock double over the next five years? Here's what you need to know about the leader in home improvement.
