The Home Depot Receives “Equal Weight” Rating from Morgan Stanley (HD)
The Home Depot (NYSE:HD)‘s stock had its “equal weight” rating restated by Morgan Stanley in a research note issued on Tuesday. They currently have a $92.00 target price on the stock, up from their previous target price of $90.00. Morgan Stanley’s price objective points to a potential upside of 10.06% from the company’s current price.
The analysts wrote, “Despite HD’s recent move higher, we expect the shares to be up today on the magnitude and quality of this upside. Over the last several months, there have been increasing concerns over the durability of the housing recovery given choppy macro, supplier,and competitor data. HD’s Q2 performance shows that the housing undercurrent is intact, seasonal demand bounced back from Q1,and that HD’s execution remains stellar.There is a shortage of high quality,e-Commerce insulated segments with sales drivers, which makes Home Improvement one of the best positioned segments in our coverage.”
A number of other firms have also recently commented on HD. Analysts at Jefferies Group raised their price target on shares of The Home Depot from $90.00 to $95.00 in a research note on Tuesday, August 12th. They now have a “buy” rating on the stock. Separately, analysts at Wolfe Research upgraded shares of The Home Depot from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 17th. 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 investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $88.62.
The Home Depot (NYSE:HD) traded up 4.07% during mid-day trading on Tuesday, hitting $86.99. 4,205,045 shares of the company’s stock traded hands. The Home Depot has a 52 week low of $72.21 and a 52 week high of $84.62. The stock has a 50-day moving average of $81.10 and a 200-day moving average of $79.48. The company has a market cap of $119.0 billion and a price-to-earnings ratio of 21.25. The Home Depot also was the recipient of unusually large options trading on Monday. Investors bought 23,735 put options on the stock. This is an increase of approximately 250% compared to the average volume of 6,773 put options.
The Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 19th. The company reported $1.52 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.45 by $0.07. The company had revenue of $23.80 billion for the quarter, compared to the consensus estimate of $23.61 billion. During the same quarter in the prior year, the company posted $1.24 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. On average, analysts predict that The Home Depot will post $4.41 earnings per share for the current fiscal year.
The Home Depot, Inc (NYSE:HD) is a home improvement retailer.
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