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Dow Win Streak at Risk After Home Depot Earnings

16 May 2018
Dow Win Streak at Risk After Home Depot Earnings

Spring is an especially important season for the home improvement retailer as shoppers traditionally stock up on gardening supplies and renovation materials. OppenheimerFunds Inc.'s holdings in The Home Depot were worth $16,680,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 70.76% of the company's stock. First Personal Financial Services grew its stake in shares of The Home Depot by 40.1% in the third quarter. CAMG Solamere Management LLC now owns 146,578 shares of the home improvement retailer's stock valued at $2,299,000 after acquiring an additional 131,916 shares in the last quarter. Johnson Inv Counsel has 0.15% invested in The Home Depot, Inc. (NYSE:HD) shs with value of $3.31 million were sold by Decker Edward P. 6,650 shs were bought by CODINA ARMANDO M, worth $1.19 million.

Home Depot management made the point that the 2.2% gain comparable sales during April was a weather anomaly due to unusual snow during the month in some regions rather than a lack of consumer demand. Insiders have sold 169,027 shares of company stock valued at $31,220,882 over the last 90 days.

The Home Depot (hd) on Tuesday reported lower than expected comparable USA sales, saying that the long winter had dented business in one of the rare instances in recent years the do-it-yourself chain has disappointed Wall Street. Finally, Denali Advisors LLC bought a new position in shares of The Home Depot during the fourth quarter worth approximately $133,000. The stock, which fell over 3 percent in early trade, was last down 1.8 percent at $187.63. Investors holded 796.24 million in 2017Q3 but now own 788.59 million shares or 0.96% less. The average analysts gave this company a mean recommendation of 3.00. Its stock is also "moving above $180". The shares were acquired at an average price of $178.66 per share, for a total transaction of $1,188,089.00. The disclosure for this sale can be found here. The S&P 500 declined 0.7 percent utilities and real estate stocks lagged.

HD has been the topic of several other reports. Telsey Advisory Group reissued an "outperform" rating and issued a $220.00 target price (up from $190.00) on shares of The Home Depot in a research note on Friday, January 19th. Credit Suisse Group upped their target price on The Home Depot from $183.00 to $222.00 and gave the company an "outperform" rating in a research report on Wednesday, January 24th. (NYSE:HD) has "Buy" rating given on Friday, January 26 by UBS. BMO Capital Markets maintained the stock with "Buy" rating in Tuesday, July 18 report. In response, Jefferies upgraded the stock to "hold", and issued a price-target hike to $22.

A simple moving average (SMA) is an arithmetic moving average calculated by adding the closing price of the security for some time periods and then dividing this total by the number of time periods. The company's distance from 52-week high price is -1.78% and the current price is 84.10% away from 52-week low price. The company's distance from 52-week high price is -28% and while the current price is 76.04% from 52-week low price.

As a sign of confidence that nothing had fundamentally changed its outlook for the health of the housing market, the company reiterated its previous forecast for annual revenue of about $107.5 billion and profit of $9.31 a share.

The Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 20th. The Home Depot had a return on equity of 306.73% and a net margin of 8.55%. However, the revenue failed to beat the analyst consensus projection of $25,202 million. During the same period a year ago, the firm earned $1.44 EPS.

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