Home Depot: High Valuation And Weak Remodeling Market

felixmizioznikov/iStock Editorial via Getty Images Last March, I placed a "Sell" rating on Home Depot (NYSE:HD), arguing the stock was overvalued and that the repair and remodel market would start to slow while the company faced pressures from wage inflation and lumber deflation. The stock, however, has been a strong performer, up over 32% versus 28% for the S&P. More recently in September, I noted that remodeling activity was expected to start to decline in 2024, which could hurt the stock. Company Pro ...