Jim Cramer Discussed These 18 Stocks As Inflation Dropped

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7. The Home Depot, Inc. (NYSE:HD)

Number of Hedge Fund Holders In Q3 2024: 82

The Home Depot, Inc. (NYSE:HD) is one of the largest home improvement retailers in America. Over the past year, the stock has gained a modest 13% due to high interest rates making their mark on the home building market. For its fiscal year 2024, The Home Depot, Inc. (NYSE:HD) expects comparable sales to drop by 2.5%, which is an improvement over the previous midpoint drop of 3.5%. Ironically, Hurricanes Helene and Milton have unlocked additional demand for the firm. Cramer’s comments for The Home Depot, Inc. (NYSE:HD) revolved around a recent deal announcement (now rejected) in the home improvement industry suggesting that perhaps the stock was undervalued:

“What does this [QXO’s $11 billion acquisition proposal of Beacon Roofing] say about Home Depot?

“These companies may be undervalued, they’re selling at very low multiples.”

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