Telsey Advisory Group reaffirmed their outperform rating on shares of Home Depot (NYSE:HD) in a research report sent to investors on Friday morning, MarketBeat reports. They currently have a $220.00 target price on the home improvement retailer’s stock, up from their prior target price of $190.00.
A number of other research analysts also recently issued reports on HD. Zacks Investment Research upgraded shares of Home Depot from a hold rating to a buy rating and set a $177.00 price target on the stock in a research report on Thursday, September 21st. Piper Jaffray Companies restated a hold rating and issued a $164.00 price target on shares of Home Depot in a research report on Sunday, October 1st. Gordon Haskett initiated coverage on shares of Home Depot in a research report on Tuesday, October 3rd. They issued a buy rating and a $189.00 price target on the stock. Credit Suisse Group set a $171.00 price target on shares of Home Depot and gave the stock a buy rating in a research report on Friday, October 13th. Finally, Robert W. Baird set a $175.00 price target on shares of Home Depot and gave the stock a buy rating in a research report on Friday, October 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $184.39.
Home Depot (NYSE HD) traded up $0.71 on Friday, reaching $205.17. 1,304,942 shares of the company’s stock were exchanged, compared to its average volume of 4,471,800. Home Depot has a 52-week low of $135.00 and a 52-week high of $204.47. The company has a quick ratio of 0.39, a current ratio of 1.23 and a debt-to-equity ratio of 9.54. The company has a market cap of $239,530.00, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 1.87 and a beta of 1.11.
Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.81 by $0.03. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. The firm had revenue of $25.03 billion for the quarter, compared to analyst estimates of $24.53 billion. During the same period in the previous year, the firm posted $1.60 EPS. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. research analysts expect that Home Depot will post 7.39 EPS for the current fiscal year.
Home Depot declared that its board has authorized a stock buyback program on Wednesday, December 6th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the home improvement retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In other Home Depot news, EVP Matt Carey sold 41,396 shares of the company’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the transaction, the executive vice president now owns 29,559 shares in the company, valued at $5,410,183.77. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jacobi Capital Management LLC grew its stake in shares of Home Depot by 16.4% in the 2nd quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock worth $108,000 after acquiring an additional 101 shares in the last quarter. Burt Wealth Advisors grew its stake in shares of Home Depot by 83.5% in the 3rd quarter. Burt Wealth Advisors now owns 870 shares of the home improvement retailer’s stock worth $142,000 after acquiring an additional 396 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Home Depot by 63.4% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 876 shares of the home improvement retailer’s stock worth $145,000 after acquiring an additional 340 shares in the last quarter. Empire Life Investments Inc. grew its stake in shares of Home Depot by 233.4% in the 3rd quarter. Empire Life Investments Inc. now owns 957 shares of the home improvement retailer’s stock worth $157,000 after acquiring an additional 670 shares in the last quarter. Finally, Glassman Wealth Services grew its stake in shares of Home Depot by 38.3% in the 2nd quarter. Glassman Wealth Services now owns 1,084 shares of the home improvement retailer’s stock worth $166,000 after acquiring an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 70.14% of the company’s stock.
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About Home Depot
The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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