NEW YORK (TheStreet) -- Shares of Home Depot (HD) - Get Home Depot, Inc. (HD) Report were declining in pre-market trading on Monday as Piper Jaffray lowered its rating on the stock to "neutral" from "overweight," the Fly reports.

The firm also reduced its price target to $121 from $152 on shares of the Atlanta-based home improvement retailer.

The downgrade comes after Piper's semi-annual homeowner survey indicated ongoing moderation in remodel spending.

Last week, four different remodel suppliers posted "relatively disappointing" results, Piper said. Additionally, Home Depot faces tough comparisons for the upcoming two quarters, according to the firm.

Piper also downgraded home improvement retailer Lowe's (LOW) to "neutral" from "overweight" today.

TheStreet Recommends

Separately, TheStreet Ratings Team has a "Buy" rating with a score of A on Home Depot stock.

The company's strengths can be seen in multiple areas, such as its growth in earnings per share, revenue growth, notable return on equity, good cash flow from operations and increase in net income.

The team believes its strengths outweigh the fact that the company has had generally high debt management risk by most measures that were evaluated.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: HD

Image placeholder title