Recent Analysts’ Ratings Updates for The Home Depot (HD)
The Home Depot (NYSE: HD) received a number of price target changes and ratings updates during the last week:
- The Home Depot had its price target raised by analysts at Canaccord Genuity from $77.00 to $78.00. They now have a “hold” rating on the stock.
- The Home Depot had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $92.00 price target on the stock, up previously from $90.00. They 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.”
- The Home Depot had its price target raised by analysts at Credit Suisse from $87.00 to $95.00.
- The Home Depot had its “buy” rating reaffirmed by analysts at Citigroup Inc.. They now have a $95.00 price target on the stock, up previously from $92.00.
- The Home Depot had its price target raised by analysts at Barclays from $95.00 to $100.00.
- The Home Depot had its “hold” rating reaffirmed by analysts at Deutsche Bank. They now have a $98.00 price target on the stock, up previously from $85.00.
- The Home Depot had its “outperform” rating reaffirmed by analysts at Raymond James. They now have a $91.00 price target on the stock, up previously from $85.50. They wrote, “We reaffirm our Outperform rating on HD and increase our target price to $91 following the company’s F2Q14 earnings release and management conference call. Headline results (sales and adjusted EPS) beat expectations driven by a rebound in the seasonal business and strong results in the maintenance and repair, professional, and service segments. Management delivered a higher than forecast gross margin while also posting a lower than modeled SG&A expense, thereby contributing to higher than estimated operating earnings. “The Home Depot continues to make progress integrating physical and digital retail and this quarter roughly one third of online sales originated in a store with the assistance of an associate. The company is now rolling out its next generation First Phone, a handheld device that allows associates to assist customers with questions, place online orders, and even complete the checkout process in the aisle. Management continues to invest in technology to improve productivity and enhance the customer experience while continuing to return capital to shareholders (the company returned roughly $2.8 billion to shareholders during the quarter through dividends and share repurchases). We remain Outperform rated on the stock, though valuation is reaching the upper end of what we judge as fair value.”
- The Home Depot had its price target raised by analysts at Argus from $95.00 to $100.00. They now have a “buy” rating on the stock.
- The Home Depot had its “” rating reaffirmed by analysts at Telsey Advisory Group. They now have a $92.00 price target on the stock.
Shares of The Home Depot, Inc. (NYSE:HD) opened at 91.03 on Monday. The Home Depot, Inc. has a 52 week low of $72.21 and a 52 week high of $91.81. The stock’s 50-day moving average is $82.08 and its 200-day moving average is $79.85. The company has a market cap of $122.5 billion and a price-to-earnings ratio of 21.81.
The Home Depot (NYSE:HD) last released its 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, Inc. will post $4.50 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, September 18th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Tuesday, September 2nd.
The Home Depot, Inc (NYSE:HD) is a home improvement retailer.
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