Home Depot's Sales Miss Suggests Cooling Housing Market

Ivan Schwartz
May 16, 2018

HD has been the topic of several research reports.

Nomura Asset Management Company Ltd decreased its stake in Home Depot Inc (HD) by 6.4% based on its latest 2017Q4 regulatory filing with the SEC. Ironwood Inv Counsel Lc holds 1.25% of its portfolio in The Home Depot, Inc. Bank of America restated a buy rating and issued a $190.60 target price (down from $219.00) on shares of The Home Depot in a research note on Tuesday, February 20th.

Home Depot's business has a "stickiness" to it, Cramer said. In Wednesday, January 24 report Credit Suisse maintained it with "Outperform" rating and $222 target. Finally, Zacks Investment Research raised The Home Depot from a "hold" rating to a "buy" rating and set a $205.00 price objective on the stock in a research report on Tuesday, February 6th.

Tesla Inc (NASDAQ:TSLA) stock is down 2.6% ahead of the bell, after Morgan Stanley cut its price target o $291 from $376, as well as itsshort- and long-term auto margin forecasts. Blb&B Ltd Liability has invested 0.06% in The Home Depot, Inc. 1,664,156 shares of the company's stock traded hands, compared to its average volume of 5,209,614. At recent session, the prices were hovering between $189.86 and $191.65. The company's distance from 52-week high price is -35.17% and the current price is 0.11% away from 52-week low price. The retailer delivered first-quarter earnings on Tuesday, and the results proved to be a mixed bag. The home improvement retailer reported $1.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $1.62 by $0.07.

Investors were also concerned that its first quarter same-store sales grew 4.2%, over 1% below analysts' expectations, the first time in seven quarters that comparable sales disappointed. Company's EPS for the prior five-years is valued at -59%, leading it to an EPS value of 10.59% for the next five years. In May 1995, the Atlanta Constitution reported that the Home Depot posted less-than-expected earnings: "Home Depot blamed the weather not the economy saying it affected more than one-third of the company's 350 stores, said [co-founder Ronald] Brill".

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In other news, Director Gregory D. Brenneman acquired 16,827 shares of the business's stock in a transaction dated Wednesday, March 21st. The stock was bought at an average cost of $178.29 per share, for a total transaction of $3,000,085.83. Investors holded 796.24 million in 2017Q3 but now own 788.59 million shares or 0.96% less. 41,396 shares were sold by Carey Matt, worth $7.58M. Following the completion of the transaction, the chief executive officer now owns 237,957 shares in the company, valued at approximately $43,734,117.03. The company has a debt-to-equity ratio of 16.69, a quick ratio of 0.38 and a current ratio of 1.17. University Of Texas Managment Co invested 0.15% of its capital in The Home Depot, Inc.

Home Depot's stock traded around $187.76 at time of publication, down 1.8 percent on the day. Trillium Asset Management LLC lifted its holdings in The Home Depot by 4.4% during the 4th quarter. The retailer mainly serves professional remodelers/renovators, home owners, general contractors, property managers, handymen, specialty tradesmen like installers; and building service contractors.

Homeowners catching up on home-improvement projects are more likely to buy supplies in person over perusing products online, some investors believe. Finally, Dorsey & Whitney Trust CO LLC lifted its holdings in The Home Depot by 7.6% during the 3rd quarter. Empire Life Investments Inc. now owns 957 shares of the home improvement retailer's stock valued at $157,000 after acquiring an additional 670 shares during the period.

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