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Five Buys Near 52-Week Highs

HD Chart HD data by YCharts

Home Depot(HD - Get Report)

Background: Home Depot is the one of world's largest home improvement retailers. Home Depot stores cater to do-it-yourselfers, as well as home-improvement, construction and building-maintenance professionals. Home Depot trades an average of 9.2 million shares a day and has a market cap of $83.7 billion. (See More: No Zero Sum Game in Retail )

52-Week High: $54.98

52-Week Low: $31.03

With more than 9 million shares traded daily, the bid-ask spread will be small. Revenue and earnings are higher year-over-year. Home Depot has also beat estimates in four of the last five quarters.

Home Depot's dividend has a yield of 2.2% and has increased an average of 9% a year over the last five years. As with most stocks near a 52-week high, the last reported short interest is tiny. Short interest is only 1.5%.

On the negative side, the mean analyst price target is $55.17. I expect the price target to work its way higher as the target is met, but it may take a week or two. The P/E ratio is on the high side, but not after factoring in the top- and bottom-line growth.

I think Home Depot is a buy on dips.
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