Citigroup Inc. Reaffirms Buy Rating for The Home Depot (HD)
The Home Depot (NYSE:HD)‘s stock had its “buy” rating reaffirmed by Citigroup Inc. in a research note issued on Wednesday. They currently have a $95.00 price objective on the stock, up from their previous price objective of $92.00. Citigroup Inc.’s price objective suggests a potential upside of 7.67% from the stock’s previous close.
Shares of The Home Depot (NYSE:HD) traded up 2.92% during mid-day trading on Wednesday, hitting $90.81. 9,415,185 shares of the company’s stock traded hands. The Home Depot has a one year low of $72.21 and a one year high of $88.99. The stock has a 50-day moving average of $81.30 and a 200-day moving average of $79.56. The company has a market cap of $124.2 billion and a P/E ratio of 22.43. The Home Depot also saw some unusual options trading activity on Monday. Traders acquired 23,735 put options on the company. This represents an increase of 250% compared to the typical daily volume of 6,773 put options.
The Home Depot (NYSE:HD) last released its earnings data on Tuesday, August 19th. 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. On average, analysts predict that The Home Depot will post $4.46 earnings per share for the current fiscal year.
A number of other firms have also recently commented on HD. Analysts at Deutsche Bank reiterated a “hold” rating on shares of The Home Depot in a research note on Wednesday. They now have a $98.00 price target on the stock, up previously from $85.00. Separately, analysts at Raymond James reiterated an “outperform” rating on shares of The Home Depot in a research note on Wednesday. They now have a $91.00 price target on the stock, up previously from $85.50. Finally, analysts at Telsey Advisory Group reiterated a “” rating on shares of The Home Depot in a research note on Wednesday. They now have a $92.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. The Home Depot has a consensus rating of “Buy” and a consensus price target of $90.80.
The Home Depot, Inc (NYSE:HD) is a home improvement retailer.
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