Home Depot Inc. (The) ($HD) Stock Forecast: Down 5.1% Today

What is Home Depot Inc. (The)?

Home Depot (HD) is a leading player in the home improvement industry, known for its wide range of products and services catering to DIY enthusiasts and professional contractors. Today, the stock experienced a strong bearish movement amidst market fluctuations.

Why is Home Depot Inc. (The) going down?

HD stock is down 5.1% on Jun 25, 2024 14:16

• The bearish movement in Home Depot's stock could be attributed to the overall challenges faced by the home improvement industry due to inflation and high interest rates, which are impacting consumer spending on big-ticket discretionary items.
• The unusual options activity indicating a bearish stance taken by some investors might have added to the downward pressure on the stock.
• The comparison between Home Depot and its rival LOW (Lowe's) may have influenced investor sentiment, leading to a shift in preferences within the home improvement sector.
• Home Depot's recent acquisition of SRS Distribution, expanding its market reach and offerings, could be a positive long-term strategy despite the short-term market reaction.

HD Price Chart

HD News

3 Home Improvement Stocks to Snag Before They Rebuild and Rocket

The home improvement industry has faced some pretty rough headwinds over the past year. With inflation and high rates taking a toll on consumer budgets, it’s not hard to imagine many big-ticket discretionary purchases are being pushed out into the future, perhaps once rates are far lower. After all, home improvement projects and a new coat of paint on the house aren’t urgent, especially when grocery bills are going through the roof. As inflation and rates settle, perhaps more homeowners will be able to commit to ambitious projects around the home. Additionally, Baby Boomers opting to age in place may be overdue for a kitchen remodel or something of the sort. Either way, the macro landscape could become markedly better from here, especially if the second half of 2024 sees a rate cut or two. Here are three home improvement stocks to buy that could rebuild and recover to prior highs if the next home improvement cycle really is upon us.

https://investorplace.com/2024/06/3-home-improvement-stocks-to-snag-before-they-rebuild-and-rocket/

Looking At Home Depot's Recent Unusual Options Activity - Home Depot ( NYSE:HD )

Whales with a lot of money to spend have taken a noticeably bearish stance on Home Depot. Looking at options history for Home Depot HD we detected 12 trades. If we consider the specifics of each trade, it is accurate to state that 8% of the investors opened trades with bullish expectations and ...

https://www.benzinga.com/insights/options/24/06/39417041/looking-at-home-depots-recent-unusual-options-activity

HD Vs LOW: Which Home Improvement Player Edges Over the Other?

Two players, HD and LOW, dominate the home improvement industry on size, revenue growth and market presence. Let us see to which side investors would incline while choosing between these arch rivals.

https://www.zacks.com/stock/news/2291044/hd-vs-low-which-home-improvement-player-edges-over-the-other

3 S&P 500 Stocks to Sell in June Before They Crash & Burn

The S&P 500 is a market index of the 500 largest publicly traded companies in the U.S. stock market exchange. The S&P 500 has around 80% of the entire market capitalization of public companies in the country, and it is generally known as the more reliable investment. However, investors should still be cautious about buying S&P 500 stocks and should complete due diligence beforehand. Specifically, during this time of high interest rates, consumer discretionary companies often struggle to bring high returns if this macroeconomic headwind continues. Despite their stability, they will most likely experience slowing growth shortly due to macroeconomic conditions and a declining reputation resulting from too aggressive cost-cutting efforts. Many of these companies are implementing corporate-wide layoffs and facing a fall in revenue, indicating no sign of growth in the near future. Below are three S&P 500 stocks investors should sell before they crash.

https://investorplace.com/2024/06/3-sp-500-stocks-to-sell-in-june-before-they-crash-burn/

Home Depot ( HD ) Buys SRS Distribution, Reaches $1 Trillion TAM

Home Depot (HD) completes the acquisition of SRS Distribution for $18.25 billion. This acquisition expands its total addressable market to $1 trillion and expands offerings for its Pro customers.

https://www.zacks.com/stock/news/2290378/home-depot-hd-buys-srs-distribution-reaches-1-trillion-tam

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Home Depot Inc. (The) Price History

15.07.2023 - HD Stock was up 1.0%

• Home Depot's Q2 results surpassed expectations, with sales beating analyst consensus.
• The stock's bullish movement could be attributed to the strength in categories associated with smaller projects, despite muted demand in discretionary categories.
• The overall market sentiment, with stocks tumbling and China's grim economic outlook, may have influenced investors to seek refuge in stable and reliable companies like Home Depot.
• The decline in revenue and comparable sales could have been overshadowed by the positive earnings surprise, leading to the bullish movement in the stock.

25.05.2024 - HD Stock was down 5.1%

• The bearish movement in Home Depot's stock could be attributed to the overall challenges faced by the home improvement industry due to inflation and high interest rates, which are impacting consumer spending on big-ticket discretionary items.
• The unusual options activity indicating a bearish stance taken by some investors might have added to the downward pressure on the stock.
• The comparison between Home Depot and its rival LOW (Lowe's) may have influenced investor sentiment, leading to a shift in preferences within the home improvement sector.
• Home Depot's recent acquisition of SRS Distribution, expanding its market reach and offerings, could be a positive long-term strategy despite the short-term market reaction.

14.10.2023 - HD Stock was up 6.2%

• Home Depot's quarterly sales and profit exceeded analysts' expectations, indicating strong performance.
• Customers are opting for smaller projects, which suggests a shift in consumer behavior towards more manageable home improvement tasks.
• Despite a decrease in sales for Q3, Home Depot has narrowed its fiscal guidance, indicating confidence in future performance.
• The overall market sentiment, with the EUR being the strongest and the CAD being the weakest, could have also contributed to Home Depot's bullish movement.

12.05.2024 - HD Stock was up 5.7%

• Home Depot (HD) experienced a strong bullish movement, likely driven by the surge in options activity.
• The increased interest in HD options, with a higher number of call options compared to put options, suggests a positive sentiment among investors regarding the stock's future performance.
• The bullish market movement could also be influenced by the overall positive sentiment in the market towards blue-chip stocks.
• The consolidation efforts in various industries could also be contributing to the bullish movement in HD, as investors may view consolidation as a positive sign for the company's growth prospects.

16.04.2023 - HD Stock was down 5.8%

• HD had a strong bearish movement today.
• HD cut its annual sales forecast and projected a steeper decline in profit due to slowing demand and customers taking on smaller projects.
• Inflation staying sticky could also be a factor in the decline in sales.
• The news about debt ceiling talks and other companies such as Capital One, Horizon Therapeutics, and Vodafone are not directly related to the bearish movement of HD.

20.01.2024 - HD Stock was up 1.3%

• Home Depot's sales have been on a downward trend for the fifth consecutive quarter, with a 3.5% decline in comparable sales.
• Despite the sales decline, Home Depot managed to outperform expectations with fourth-quarter revenue of $34.79 billion, slightly beating analyst estimates.
• The stock experienced a 2% drop in premarket trading, reflecting investor concerns about the impact of higher mortgage rates on the housing market.
• The contrasting performance of Home Depot and Walmart highlights the challenges faced by retailers in different sectors, with Walmart being perceived as better positioned in the current market environment.

05.08.2023 - HD Stock was down 1.6%

• The bearish movement in HD's stock today could be attributed to several factors:
• 1. Divergent retail fates: The article mentions that Foot Locker, a competitor of HD, reported falling sales and slashed its outlook, which could have raised concerns about the overall retail sector, including home improvement. This negative sentiment might have affected HD's stock price.
• 2. Market uncertainty: The overall market uncertainty mentioned in an article from Investor Place could have influenced investors to sell off their positions in HD, seeking more stable investments.
• 3. Analyst reports: The article mentions that HD is one of the major stocks covered in research reports. Any negative or cautious outlook provided by analysts could have impacted investor sentiment and contributed to the bearish movement.
• 4. Profit-taking: It is also possible that some investors decided to take profits after a period of gains, leading to a temporary decline in HD's stock price.

03.09.2023 - HD Stock was down 2.8%

• The bearish movement in Home Depot's stock today could be attributed to a combination of factors:
• 1. Unusual Options Trades: The presence of bearish trades in Home Depot's options history indicates that some investors have taken a negative stance on the stock. This sentiment could have contributed to the downward movement.
• 2. Downgrade by StockNews.com: The recent downgrade of Home Depot's stock rating from "buy" to "hold" by StockNews.com might have influenced investor sentiment and led to selling pressure.
• 3. Lawsuit Controversy: The ongoing lawsuit involving Home Depot and actor Tyrese Gibson, alleging racial discrimination, could have created negative publicity for the company. Such controversies can impact investor confidence and potentially contribute to a bearish market movement.
• 4. Overall Market Conditions: It's important to consider that market conditions as a whole can also influence the movement of individual stocks. If there is a broader bearish sentiment in the market or concerns about the economy, it could have affected Home Depot's stock negatively.
• Please note that the assessment provided is based on the given information and should be considered in conjunction with other relevant factors before making any investment decisions.

10.06.2023 - HD Stock was up 1.5%

• The bullish movement in Home Depot's stock today can be attributed to a few factors:
• 1. Increasing merchant partnerships: The announcement by Katapult Holdings, Inc. that Home Depot is one of the merchants on their mobile app featuring Katapult Pay indicates a growing list of retailers collaborating with Home Depot. This positive development suggests potential increased sales and customer engagement for the company.
• 2. Positive sentiment in the market: Despite a dip in the overall market, Home Depot's stock managed to gain +0.26% in the most recent trading session. This indicates that investors have a favorable outlook on the company, potentially due to its strong market position and resilience in the home improvement sector.
• 3. Reduced short interest: The decline in Home Depot's short percent of float by 23.31% suggests that fewer investors are betting against the company's stock. This reduction in short interest could contribute to the upward movement in the stock price as short sellers cover their positions, adding buying pressure.
• Overall, Home Depot's bullish movement today can be attributed to the increasing merchant partnerships, positive market sentiment, and reduced short interest in the company.

15.08.2023 - HD Stock was down 0.1%

• The bearish movement in Home Depot's stock today could be attributed to a combination of factors:
• 1. Frozen residential real estate market: The article mentions that Home Depot is a victim of the frozen residential real estate market. This could indicate a slowdown in the housing market, leading to decreased demand for home improvement products and services.
• 2. Potential impact of Hurricane Lee: The article mentions that Hurricane Lee is expected to hit parts of the U.S. Home Depot, being a retailer of building materials, may experience a decline in sales due to the disruption caused by the storm.
• 3. Underperformance compared to the S&P 500: The article highlights that the Dow Jones Industrial Average, of which Home Depot is a component, is trailing behind the S&P 500 in terms of performance. This underperformance may have contributed to the bearish movement in Home Depot's stock.
• 4. Litigation concerns: Although not directly mentioned in the articles, the presence of potentially ruinous litigation weighing down other Dow stocks could have created a negative sentiment in the market, affecting Home Depot's stock as well.
• Overall, the bearish movement in Home Depot's stock today could be attributed to a combination of factors such as the frozen residential real estate market, the potential impact of Hurricane Lee, underperformance compared to the S&P 500, and general concerns about litigation affecting Dow stocks.

16.04.2023 - HD Stock was down 5.9%

• HD had a strong bearish movement today.
• Wall Street expected HD to post quarterly earnings at $3.48 per share on revenue of $35.02 billion before the opening bell. However, it is not clear if the earnings report caused the bearish movement.
• Berkshire Hathaway initiated a position in Capital One, which surged over 5% in premarket trading. This news might have diverted some investor attention from HD, leading to the bearish movement.
• The CNN Money Fear and Greed index showed some improvement in overall sentiment among U.S. investors on Monday. However, this positive sentiment did not reflect on HD's movement today.