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The Home Depot (NYSE:HD) was upgraded by stock analysts at Wolfe Research from a “market perform” rating to an “outperform” rating in a report issued on Thursday, TheFlyOnTheWall.com reports.

Shares of The Home Depot (NYSE:HD) traded down 0.11% during mid-day trading on Thursday, hitting $79.57. The stock had a trading volume of 5,534,264 shares. The Home Depot has a 52-week low of $72.21 and a 52-week high of $83.20. The stock’s 50-day moving average is $80.32 and its 200-day moving average is $79.36. The company has a market cap of $108.8 billion and a P/E ratio of 20.25. The Home Depot also was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 23,583,342 shares, a decrease of 23.0% from the June 13th total of 30,644,247 shares. Approximately 1.7% of the shares of the company are short sold. Based on an average daily volume of 6,708,741 shares, the short-interest ratio is currently 3.5 days.

The Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 20th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.01. The company had revenue of $19.70 billion for the quarter, compared to the consensus estimate of $19.96 billion. During the same quarter in the previous year, the company posted $0.83 earnings per share. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts expect that The Home Depot will post $4.41 EPS for the current fiscal year.

HD has been the subject of a number of other recent research reports. Analysts at Morgan Stanley initiated coverage on shares of The Home Depot in a research note on Tuesday, June 24th. They set an “equal weight” rating and a $90.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of The Home Depot in a research note on Thursday, June 12th. They now have a $84.00 price target on the stock. Finally, analysts at Goldman Sachs raised their price target on shares of The Home Depot to $93.00 in a research note on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. The Home Depot has an average rating of “Buy” and a consensus target price of $88.34.

The Home Depot, Inc (NYSE:HD) is a home improvement retailer.

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