Home improvement giant Home Depot (HD) got some good news today as a major theft operation, which some reports call the largest of its kind in history, that focused on Home Depot stores saw arrests made. The relief rushed through the corporate superstructure, and even investors felt it, if only a little. Shares of Home Depot ticked up fractionally in Wednesday morning’s trading.
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In fact, the report noted, 14 people had been arrested in connection with the operation, which reports described as “…the largest organized retail theft operation in Home Depot’s history.” Nine of those arrested currently face felony charges as a result.
The people arrested were linked to fully 600 different thefts spread across 71 different Home Depot locations. The thefts ultimately cost Home Depot over $10 million. The operation worked distressingly simply; a group of thieves known as “boosters” would allegedly go forth, steal various components from Home Depot—electrical switches and the like were particularly prized—and then bring them back to a storefront in Tarzana known as ARIA Wholesale for resale.
The Unexpected Trump Connection
So most of us know that President Trump has a fondness for gold fixtures. But as it turns out, new reports note, not all that glitters is gold. And a lot of Trump’s glitter can apparently be found at Home Depot. Some side-by-side comparisons are striking.
A study between some medallions recently featured in the Oval Office and a “…polyurethane applique made by Ekena Millwork…” revealed many similarities. The applique apparently costs $58.07 at Home Depot, reports noted. However, the applique’s original color is white, which suggests the addition of gold paint or gold leaf. Regardless, the outcome is surprisingly striking, and the idea that most people can get a little Trump-style luxury for comparatively cheap should be compelling for at least some renovation projects.
Is Home Depot a Good Long-Term Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on HD stock based on 18 Buys and six Holds assigned in the past three months, as indicated by the graphic below. After a 9.35% rally in its share price over the past year, the average HD price target of $445.14 per share implies 8.92% upside potential.
