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HD

Home Depot

$191.15

0.82 (0.43%)

09:05
05/15/18
05/15
09:05
05/15/18
09:05

Home Depot says Pro sales outpaced DIY in Q1

Says Q1 online sales grew about 20% y/y. Comments from Q1 earnings conference call.

  • 15

    May

  • 30

    May

HD Home Depot
$191.15

0.82 (0.43%)

04/23/18
WELS
04/23/18
INITIATION
Target $205
WELS
Outperform
Home improvement and autopart retail offers favorable pockets, says Wells Fargo
As reported earlier, Wells Fargo analyst Zachary Fadem initiated select names within the home improvement, auto part retail, home furnishings, and specialty hardlines. The analyst notes that the pullback in some of these stocks related to "uncertainty around margins, global trade policy, and the sustainability of recently improving results", which replaced the enthusiasm from the anticipated consumer strength, rising wages, and tax reform benefits earlier this year, has produced some "compelling" long-term investment opportunities. Fadem initiated Home Depot (HD) and Lowe's (LOW) at Outperform with respective price targets of $205 and $100, saying home improvement is particularly attractive in retail today given the valuations in housing and demographics tailwinds. The analyst adds that the home improvement category has seen the most consistent growth in "consumer share of wallet" to 7.5% over the past 5 years, even though that level is still below 8.7% prior peak in 2005. Fadem's view on Bed Bath and Beyond (BBBY) is less upbeat with an Underperform rating and a $16 price target based on its limited growth opportunity, margin profile, differentiation, and e-commerce strategy. Similarly, the analyst profiles the auto parts retail offering some opportunity in terms of "lost share of wallet" sliding to 1.8%, below the 10-year average of 1.9%, while offering "attractive valuations" and an opportunity to regain its footing. Fadem initiates O'Reilly (ORLY) and AutoZone (AZO) with an Outperform rating and price targets of $260 and $700 respectively, adding that these two companies exceeded the industry growth even as auto parts retailers as a group trade at a 23% discount relative to the S&P500. The analyst also initiated select names in the Home Furnishings/Specialty categories, including At Home (HOME) at Outperform with a price target of $42, Tractor Supply (TSCO) at Outperform with a price target of $70, and National Vision (EYE) with an Outperform and a price target of $40. Fadem. All of these names earned a positive view based on the analysts Growth Opportunity and Concept Differentiation screens, with the last two also cited for their potential for near term improvement.
05/09/18
CLVD
05/09/18
NO CHANGE
CLVD
Home Depot 2018 comp estimate of 6% looks reasonable, says Cleveland Research
Cleveland Research said its Home Depot 2018 comp estimate of 6%, versus guidance of 5%, looks reasonable given solid underlying demand, share gains, and incremental inflation.
05/09/18
CLVD
05/09/18
NO CHANGE
CLVD
Lowe's comp gap versus Home Depot could widen, says Cleveland Research
Cleveland Research said Lowe's (LOW) comp gap versus Home Depot (HD) could widen further given continued disruptions and inefficiencies in execution.
05/15/18
BARD
05/15/18
NO CHANGE
Target $215
BARD
Outperform
Home Depot weakness a buying opportunity, says Baird
Baird analyst Peter Benedict said softer seasonal sales impacted by weather was the reason for Home Depot's revenue miss in Q1. He said the company is seeing strong momentum thus far in May and 2018 guidance was maintained, so he would be a buyer of any weakness following the quarterly report. Benedict reiterated his Outperform rating and $215 price target on Home Depot shares, which are down about 2.7% to $186 in early pre-market trading.

TODAY'S FREE FLY STORIES

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Synopsys

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AMZN

Amazon.com

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19.67 (1.24%)

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SRRK

Scholar Rock

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Kiniksa

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SAIL

SailPoint

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1.29 (5.86%)

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CLPS

CLPS

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  • 24

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MDT

Medtronic

$85.29

0.305 (0.36%)

, MCK

McKesson

$146.84

0.39 (0.27%)

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MDT

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MCK

McKesson

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BBY

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HRL

Hormel Foods

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BPOP

Popular

$46.94

-0.31 (-0.66%)

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WSM

Williams-Sonoma

$49.21

1.91 (4.04%)

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Recommendations
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  • 23

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EWY

iShares MSCI South Korea Index Fund

$74.45

0.73 (0.99%)

, SPY

SPDR S&P 500 ETF Trust

$273.37

0.8 (0.29%)

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EWY

iShares MSCI South Korea Index Fund

$74.45

0.73 (0.99%)

SPY

SPDR S&P 500 ETF Trust

$273.37

0.8 (0.29%)

SPX

S&P 500

$0.00

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CVX

Chevron

$128.70

0.465 (0.36%)

19:39
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Canadian court affirms dismissal of suit against Chevron subsidiary »

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EA

Electronic Arts

$133.49

1.31 (0.99%)

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CCL

Carnival

$64.67

-0.39 (-0.60%)

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  • 30

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PBR

Petrobras

$15.10

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SRPT

Sarepta

$88.94

-0.24 (-0.27%)

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  • 20

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BZLFF

Bunzl

$0.00

(0.00%)

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Downgrade
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WUBA

58.com

$84.56

1.39 (1.67%)

19:02
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  • 24

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WUBA

58.com

$84.56

1.39 (1.67%)

19:01
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  • 24

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WSM

Williams-Sonoma

$49.21

1.91 (4.04%)

, LASR

nLight

$30.00

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WSM

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LASR

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LB

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NTAP

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TM

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CPRT

Copart

$52.93

-0.06 (-0.11%)

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  • 24

    May

AAPL

Apple

$188.36

1.08 (0.58%)

, VLKAY

Volkswagen

$0.00

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AAPL

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$188.36

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BMWYY

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DDAIF

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PBR

Petrobras

$15.10

-0.6 (-3.82%)

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NFLX

Netflix

$344.70

13.08 (3.94%)

, CMCSA

Comcast

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NFLX

Netflix

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CMCSA

Comcast

$31.87

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CMCSK

Comcast

$0.00

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CE

Celanese

$113.87

-0.05 (-0.04%)

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