Yesterday, we got the word that the growing number of gold fixtures in the White House could have come from the shelves of home improvement giant Home Depot (HD) with a bit of doctoring. While this has some appeal—you too can make your house look like the White House for a few hundred bucks—there are some downsides. Investigations have already begun, and the news is weighing on Home Depot stock a bit. It is down fractionally in Friday afternoon’s trading.
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Originally, reports noted that President Trump has a “gold guy,” a guy in south Florida who makes cabinets and handles his gold fixtures. Meanwhile, others pointed out—like we did yesterday—the surprising similarities between White House fixtures and those available at Home Depot.
Inside Edition actually stepped in on this one to have a look, and BuzzFeed (BZFD) took a run at it as well. Reports noted that several “design firms in DC” noted “…these could be our onlays.” Ekena Millworks, which some originally thought was the source of the moldings involved, noted that companies like Disney (DIS) are already turning to it for similar applications. So, why not the White House?
More About that Labor Day Sale
We already know that Home Depot will be having a Labor Day sale that will heavily feature the Halloween collection. But more news slipped out about what else will be hitting the big event, and there should be some big surprises.
For instance, a Traeger (COOK) Ironwood 885 pellet grill and smoker will get a special discount, $200 off, for the big sale. Several other grills will also get their prices knocked down. There will be some appliance deals, and for those who want to get the most out of cool fall evenings—or get ready for next spring—patio furniture deals will be in play as well.
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 10.57% rally in its share price over the past year, the average HD price target of $445.73 per share implies 9.83% upside potential.
