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The Home Depot (NYSE:HD) shot up 5.9% on Tuesday following a better than expected earnings announcement, American Banking News.com reports. The company traded as high as $88.74 and last traded at $88.56, with a volume of 11,368,156 shares traded. The stock had previously closed at $83.59.

The company reported $1.52 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $1.24 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis.

A number of analysts have recently weighed in on HD shares. Analysts at Credit Suisse raised their price target on shares of The Home Depot from $87.00 to $95.00 in a research note on Tuesday. Separately, analysts at Canaccord Genuity raised their price target on shares of The Home Depot from $77.00 to $78.00 in a research note on Tuesday. They now have a “hold” rating on the stock. Finally, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of The Home Depot in a research note on Tuesday. They now have a $92.00 price target on the stock, up previously from $90.00. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $88.47.

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 $121.5 billion and a price-to-earnings ratio of 21.25. The Home Depot also saw unusually large options trading on Monday. Stock investors bought 23,735 put options on the company. This represents an increase of approximately 250% compared to the average volume of 6,773 put options.

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

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