5 Best Home Appliance Stocks to Buy

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1. The Home Depot, Inc. (NYSE: HD)

Number of Hedge Fund Holders: 68

The Home Depot, Inc. (NYSE: HD) is a home improvement retailer operating a wide variety of The Home Depot, Inc. (NYSE: HD) stores where consumers can buy a range of curated kitchen appliances for their houses. The stock ranks 1st on our list of the best home appliance stocks to buy.

This May, Credit Suisse raised its price target on The Home Depot, Inc. (NYSE: HD) from $319 to $330 with analyst Lavesh Hemnani commenting that the upgrade came about in light of strong results announced by the company for the first quarter. The firm has retained its Outperform rating on the shares as well.

In the fiscal first quarter of 2022, The Home Depot, Inc. (NYSE: HD) had an EPS of $3.86, beating estimates by $0.81. The company’s revenue was $37.50 billion, up 32.70% year over year, beating estimates by $2.87 billion. The Home Depot, Inc. (NYSE: HD) has a gross profit margin of 33.94% and has gained 17.12% in the past 6 months and 22.63% year to date.

By the end of the first quarter of 2021, 68 hedge funds out of the 866 tracked by Insider Monkey held stakes in The Home Depot, Inc. (NYSE: HD). The total value of their stakes was roughly $4.35 billion. This is compared to 79 hedge funds in the previous quarter with a total stake value of approximately $4.92 billion.

You can also take a peek at 10 Construction Stocks Under $10 and 10 Best Construction Materials Stocks To Buy Now.

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