Moody’s (NYSE:MCO) Investors Service increased its rating view on The Home Depot, Inc. (NYSE:HD) Wednesday on the anticipation that the retailer’s performance will continue to strengthen.
The credit ratings agency increased its view to “Positive” from “Stable”, which signifies it may increased its rating in the future. The Home Depot’s present investment-grade “A3” rating is unchanged.
Moody’s declared that The Home Depot should benefit from increased execution, several recovery in the housing market and rose short-terms sales from rebuilding after Superstorm Sandy. The rating agency declared the optimistic view also recognizes the impact of the firm’s improvement of key sales trends and operating margins on its credit metrics.
Moving readers toward the broader market, let’s consider percentage change in stocks prices of other stocks in the similar sector who contribute major role in the market that includes Lowe’s Companies, Inc (NYSE:LOW) increased +0.03%, Lumber Liquidators Holdings Inc (NYSE:LL) slid -1.67%, Builders FirstSource, Inc. (NASDAQ:BLDR) which also decreased -7.36% and Sirius XM Radio Inc (NASDAQ:SIRI) closed down -3.23%.
The Home Depot, Inc. (NYSE:HD) stock’s trade at beginning with a price of $63.24 and throughout the trading session climbed at a high of $63.50 other than when day-trade ended the stock finally declined -3.01% to $61.47.
The stock is going forward its 52 week low with 73.10% and lagging behind from its 52 week high price with -4.61%. HD last month stock price volatility remained 1.71%.
HD stock institutional ownership remained 74.44% while insider ownership included 0.14%. In its share capital HD has 1.51 billion outstanding shares among them 1.51 billion shares have been floated in market exchange.
Company’s beta coefficient included 0.82. Beta factors measures the amount of market risk associated with market trade.