2024-05-19 05:31:31 ET
Summary
- Home Depot's sales have declined, with a 2.3% YoY decrease in Q1 and a 3.2% decline in comparable sales in the US.
- Weak demand for larger discretionary projects and a slow housing market contribute to the decline in sales.
- The macroeconomic environment, including consumer confidence and the housing market, remains challenging, and the valuation of the company is too high.
- For these reasons, we maintain our "hold" rating.
The Home Depot, Inc. ( HD ) is a home improvement retailer in the United States and internationally. It sells, among others, building materials, home improvement products, lawn and garden products, as well as repair and operations products....
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Home Depot: Based On The Earnings, We Are Still Not Buyers