Jim Cramer Wonders Why People Are Selling Home Depot (HD) Shares

We recently published 12 Stocks on Jim Cramer’s Radar.  The Home Depot Inc. (NYSE:HD) is one of the stocks on Jim Cramer's radar.

Home improvement retailer The Home Depot Inc. (NYSE:HD)’s shares are down by 2.2% over the past year and are up by 11% year-to-date. Bernstein discussed the firm on February 18th. It raised the share price target to $381 from $362 and kept a Market Perform rating. The action came before The Home Depot Inc. (NYSE:HD)’s fiscal fourth quarter earnings report. Bernstein outlined that it was sticking with caution when it came to same-store sales growth due to a snowstorm that it believed could affect the results. The Home Depot Inc. (NYSE:HD)’s earnings saw it report $38.20 billion in revenue and $2.72 in earnings per share to beat analyst estimates of $38.12 billion and $2.54. During the quarter, the firm’s same-store sales grew by 0.4%. The Home Depot Inc. (NYSE:HD)’s peers, Builders FirstSource and Floor & Decor posted growth drops in their latest results. The former’s core organic net sales dipped by 13% while the latter’s same-store sales dropped by 4.8%. Cramer continued to defend The Home Depot Inc. (NYSE:HD) after the earnings:

“We own Home Depot for the trust. I was looking for a cut in estimates and negative comps. We did better. Those who are selling it, what is your edge? You worried about that forecast which is always conservative? Tell me what you know? Why you are selling? I would love to hear.”

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