While home improvement retailer Home Depot (HD) is not exactly known for soccer, it looks like it means to change that notion a bit with some new soccer sponsorships. Investors, meanwhile, are skeptical about just how this will let Home Depot sell more hammers and such, and sent shares down nearly 1.5% in Tuesday afternoon’s trading.
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Home Depot is teaming up with the U.S. Soccer Federation in a bid to make Home Depot a “strategic partner” of 27 U.S. Soccer National Teams, noted a recent press release. Both the Men’s and Women’s Senior National Teams stand to benefit, along with the Youth and Extended National Teams. Just to top it off, Home Depot will also back the Arthur M. Blank U.S. Soccer National Training Center on Atlanta.
This is not Home Depot’s first soccer partnership, interestingly. It recently partnered with FIFA as well, and thanks to this will be the “official home improvement retailer in North America for the 2026 FIFA World Cup.” That should increase its exposure, and find some common ground with soccer fans who also want to buy tools.
Ratcheting Up Ratchet—and More–Delivery
However, Home Depot was not just focusing on soccer. It also made a move recently to step up its delivery processes and make its hardware lineup more accessible without having to actually leave the home in question.
Thanks to the new expansion, shoppers have access to free next-day delivery, same-day delivery for several different items, and the ability to use Instacart, DoorDash and Uber Eats to have certain items delivered in as little as one hour. With consumers watching their spending these days, making items easier to buy seldom hurts. With all these delivery options, customers should not want for anything, at least, not for very long.
Is Home Depot Stock a Good Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on HD stock based on 16 Buys and four Holds assigned in the past three months, as indicated by the graphic below. After a 19.89% rally in its share price over the past year, the average HD price target of $439.39 per share implies 4.95% upside potential.
