Hornbach: The dynamics are still intact

The new wave of pandemics is affecting some of Hornbach’s businesses. In the Czech Republic and Slovakia there are sales restrictions in stationary retail for private customers. There are currently no restrictions in other countries.

Hornbach sales rose by 20 percent in both September and October. November should also develop positively. The high customer demand is likely to continue. Many consumers currently rely on a cozy home.

In today’s study, the DZ Bank analysts confirm the hold recommendation for Hornbach shares. The price target remains at EUR 92.00.

With the coming corona vaccinations, the very dynamic trend at Hornbach is likely to weaken in the coming year. For 2020/2021, the analysts are increasing their earnings estimate per share from EUR 10.78 to EUR 12.18. The forecast for the following financial year has increased from EUR 9.11 to EUR 9.45.

The shares of Hornbach gain 2.4 percent in the afternoon to 86.50 euros.


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