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HD

Home Depot

$207.98

4.335 (2.13%)

07:25
08/20/19
08/20
07:25
08/20/19
07:25

Home Depot Q2 results likely good enough to support shares, says Baird

Baird analyst Peter Benedict said the Home Depot Q2 results did not contain any surprises and its results were likely good enough to support the shares at its current valuation. The analyst noted the comps were a slight miss to his estimates but were no worse than feared given softer macro indicators. Benedict maintained his Outperform rating and $220 price target on Home Depot shares.

  • 20

    Aug

HD Home Depot
$207.98

4.335 (2.13%)

07/16/19
07/16/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Home Depot (HD) downgraded to Hold from Buy at Gabelli with analyst Alvaro Lacayo citing valuation. 2. Sonoco (SON) downgraded to Underperform from Market Perform at BMO Capital with analyst Mark Wilde saying the the stock has run up 21% year-to-date and now trades at about 10.5-times his expected FY19 EBITDA and at 6.1% free cash flow yield, both of which are at the high end of their historical valuation ranges. 3. Parker-Hannifin (PH) downgraded to Sell from Neutral at Goldman Sachs with analyst Joseph Ritchie saying he shuffled his ratings in the Americas Multi-Industry ahead of the Q2 earnings season. He sees a "rocky road ahead." 4. FactSet (FDS) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst saying the company's "decelerating" earnings growth brings risk to its "full" valuation. 5. Kennametal (KMT) double downgraded to Sell from Buy at Goldman Sachs. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/19/19
LOOP
07/19/19
NO CHANGE
Target $195
LOOP
Hold
Home Depot price target raised to $195 from $185 at Loop Capital
Loop Capital analyst Laura Champine raised her price target on Home Depot to $195 but her her Hold rating after her call with its management yesterday. The analyst says the discussions suggest that the demand outlook for home improvement remains mixed, with downside risks to the company's top-line guidance from lumber deflation in FY19 and some upside in remodeling activity in the second half and beyond from lower interest rates. Champine adds that lower mortgage rates have typically stimulated home improvement demand, and expectations of a more accommodative Fed warrant expectations of a slightly higher top-line for FY20 to 117.53B from her $117.40B prior view.
08/12/19
STFL
08/12/19
NO CHANGE
Target $230
STFL
Buy
Home Depot price target raised to $230 ahead of earnings at Stifel
Stifel analyst John Baugh lowered his comp and EPS estimates slightly for Home Depot ahead of its report of second quarter results on August 20, citing adverse weather, delayed recovery in housing activity, commodity lumber deflation and weak home improvement spending. However, Home Depot shares are essentially at his previous price target of $210 and "faced with the question of changing a rating versus increasing the target price," he decided on raising his price target to $230 and keeps a Buy rating on the stock as Home Depot. The stock provides a safe dividend and he feels investors looking for a retail name will want to invest in Home Depot based on its management team, market leadership position and U.S. focused sales, Baugh stated. His Q2 comp growth estimate is now 20 basis points lower for Home Depot at 2.8%, but his 2.0% comp growth estimate for Lowe's is unchanged, Baugh noted.
08/14/19
WELS
08/14/19
NO CHANGE
Target $230
WELS
Outperform
Home Depot price target raised to $230 from $215 at Wells Fargo
Wells Fargo analyst Zachary Fadem raised his price target for Home Depot to $230 from $215 ahead of quarterly results. The analyst views Q2 challenges as well documented and largely transitory. While tariffs are a wildcard, Fadem sees limited 2019 exposure to List 4, and views the prospects for second half of the year trend improvement as the more incremental driver on earnings day. He reiterates an Outperform rating on the shares.

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