The Home Depot, Inc. (HD) Is A Thesis Play On Rate Cuts, Says Jim Cramer

We recently published 12 Latest Stocks On Jim Cramer’s Radar. The Home Depot, Inc. (NYSE:HD) is one of the stocks Jim Cramer recently discussed.

The Home Depot, Inc. (NYSE:HD) is a home improvement products retailer. Its shares have gained a modest 2.8% year-to-date on the back of an 8.7% jump since July’s close. Investors, it appears, are betting on growing home building and renovation on the back of interest rate cuts by the Federal Reserve after a shocking jobs report. Cramer’s previous comments about The Home Depot, Inc. (NYSE:HD) have attributed the stock’s performance to home building stocks. Here are his latest comments:

“One of the things that I’m learning to say on my conference call is we own Home Depot. It’s been now a terrific win. But Home Depot is a thesis play. In other words, Home Depot is a buy that we believe that there’s going to be a double rate cut. I don’t think there will be. I think the actual business is not strong right now. Partly because we did not have a good gardening season.”

Previously, Cramer discussed The Home Depot, Inc. (NYSE:HD) in the context of home building stocks:

“Home Depot’s up seven and my charitable trust owns that. And now I look at that and I think that’s because of Horton being up and Lennar being up and Pulte being up. But that’s not what references, it’s Sherwin Williams. And that means that maybe it’s too high.”

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.