The Home Depot Inc. (HD) Receives Consensus Rating of “Buy” from Analysts
Shares of The Home Depot Inc. (NYSE:HD) have earned a consensus recommendation of “Buy” from the twenty-six analysts that are currently covering the stock. Seven analysts have rated the stock with a hold recommendation and nineteen have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $146.19.
Several research firms have recently weighed in on HD. Zacks Investment Research downgraded The Home Depot from a “buy” rating to a “hold” rating in a research report on Thursday, August 18th. RBC Capital Markets reissued an “outperform” rating and set a $155.00 target price (up previously from $150.00) on shares of The Home Depot in a research report on Wednesday, August 17th. Nomura reissued an “in-line” rating and set a $155.00 target price on shares of The Home Depot in a research report on Wednesday, August 17th. Wedbush boosted their target price on The Home Depot from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, August 17th. Finally, Jefferies Group reissued a “buy” rating on shares of The Home Depot in a research report on Monday, September 12th.
In other The Home Depot news, CFO Carol B. Tome sold 97,610 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $135.35, for a total value of $13,211,513.50. Following the sale, the chief financial officer now directly owns 644,831 shares of the company’s stock, valued at $87,277,875.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Timothy M. Crow sold 49,392 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $135.06, for a total value of $6,670,883.52. Following the completion of the sale, the executive vice president now directly owns 224,905 shares in the company, valued at $30,375,669.30. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.
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A number of hedge funds have recently modified their holdings of the stock. Cohen & Steers Inc. raised its stake in shares of The Home Depot by 37,680.1% in the second quarter. Cohen & Steers Inc. now owns 35,400,000 shares of the home improvement retailer’s stock valued at $32,480,000 after buying an additional 35,306,300 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of The Home Depot during the second quarter valued at approximately $337,042,000. Emerald Acquisition Ltd. acquired a new stake in shares of The Home Depot during the second quarter valued at approximately $198,627,000. Jennison Associates LLC raised its stake in shares of The Home Depot by 22.9% in the second quarter. Jennison Associates LLC now owns 7,954,031 shares of the home improvement retailer’s stock valued at $1,015,650,000 after buying an additional 1,483,893 shares during the last quarter. Finally, Marsico Capital Management LLC raised its stake in shares of The Home Depot by 605.0% in the first quarter. Marsico Capital Management LLC now owns 1,491,833 shares of the home improvement retailer’s stock valued at $199,055,000 after buying an additional 1,280,239 shares during the last quarter. 71.86% of the stock is currently owned by institutional investors.
Shares of The Home Depot (NYSE:HD) traded up 0.84% during mid-day trading on Wednesday, reaching $126.91. The company had a trading volume of 1,825,405 shares. The firm has a 50-day moving average price of $129.84 and a 200-day moving average price of $132.51. The Home Depot has a 1-year low of $109.62 and a 1-year high of $139.00. The stock has a market capitalization of $156.81 billion, a price-to-earnings ratio of 21.48 and a beta of 0.97.
The Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 16th. The home improvement retailer reported $1.97 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.97. The firm had revenue of $26.47 billion for the quarter, compared to the consensus estimate of $26.47 billion. The Home Depot had a return on equity of 110.52% and a net margin of 8.08%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.71 EPS. Equities analysts expect that The Home Depot will post $6.33 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Tuesday, August 30th. The Home Depot’s payout ratio is 46.54%.
About The Home Depot
The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serve three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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