It might have been bad enough for home improvement giant Home Depot (HD) when the Border Patrol started using its parking lots as a kind of live trap for finding illegal immigrants. But the latest news about Home Depot’s parking lots may have some even more unnerved. Specifically, the problem now is parking lot cameras, and where that information is going. The news did not sit well with investors, and shares slipped fractionally in Monday afternoon’s trading.
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The reports noted that Home Depot, as well as its immediate competitor, Lowe’s (LOW), both turn to Flock cameras to study their parking lots. The Flock cameras catch license plate data from cars entering the parking lots, and that information in turn is being used by law enforcement as part of a “…growing surveillance system…,” reports noted.
“Do customers know that these stores are collecting their data and sharing indiscriminately? Probably not. Have these companies given thought about how this data might put their customers in danger, whether it’s cops stalking their exes or aggressive ICE agents targeting yard workers? Probably not.” That is the word from Electronic Frontier Foundation director of investigations Dave Maass, who capped it off with one critical line: “If these companies want customers to feel safe in their homes, then they should make sure they’re also safe where they buy their supplies.”
“This Absolutely Enrages Me”
What can enrage a gardener? Aphids? Carpenter ants? Deer nibbling on plants? Apple trees that fail to give fruit? One of the most recent examples of gardeners irked came from Home Depot, as the store recently threw out what one report called “…a small mountain of plants in plastic pots….” Said mountain was apparently destined for a landfill, before the gardener in question, who went unnamed, stepped in.
Throwing away a large quantity of plants, dirt, and plastic pots is a problem, the report noted, because the biodegradable plant matter can apparently generate methane, which can contribute to global warming. The plastic pots did Home Depot no favors, as those are even worse for landfills. But the gardener enlisted a friend’s help and salvaged the plants. The plants were moved to a “temporary staging area” before being given away at no charge. This is not Home Depot’s first contact with unnecessary trash that perhaps would have been better off given away than thrown out.
Is Home Depot a Good Long-Term Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on HD stock based on 19 Buys and six Holds assigned in the past three months, as indicated by the graphic below. After a 12.16% rally in its share price over the past year, the average HD price target of $429.89 per share implies 11.04% upside potential.
