Oppenheimer Reiterates “Outperform” Rating for The Home Depot (HD)
The Home Depot (NYSE:HD)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Oppenheimer in a research note issued to investors on Friday. They currently have a $101.00 price target on the stock, up from their previous price target of $93.00. Oppenheimer’s price target points to a potential upside of 12.31% from the stock’s previous close.
A number of other firms have also recently commented on HD. Analysts at Zacks reiterated a “neutral” rating on shares of The Home Depot in a research note on Monday. They now have a $98.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of The Home Depot in a research note on Wednesday, August 20th. They now have a $95.00 price target on the stock, up previously from $92.00. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of The Home Depot in a research note on Wednesday, August 20th. They now have a $98.00 price target on the stock, up previously from $85.00. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $91.80.
In other The Home Depot news, CEO Francis S. Blake unloaded 98,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $91.33, for a total value of $8,950,340.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
The Home Depot (NYSE:HD) traded up 0.13% on Friday, hitting $90.05. 905,390 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 $93.52. The stock’s 50-day moving average is $84.6 and its 200-day moving average is $80.73. The company has a market cap of $121.2 billion and a P/E ratio of 21.51. The Home Depot also saw a large decline in short interest during the month of August. As of August 15th, there was short interest totalling 12,956,387 shares, a decline of 20.3% from the July 31st total of 16,260,267 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average trading volume of 5,413,132 shares, the short-interest ratio is presently 2.4 days.
The Home Depot (NYSE:HD) last announced its earnings results 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. Analysts expect that The Home Depot will post $4.50 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, September 18th. Stockholders 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 2.09%. 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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