The Home Depot Inc. (HD) Stock Rating Lowered by Zacks Investment Research
The Home Depot Inc. (NYSE:HD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “In response to the evolving retail environment, Home Depot remains keen on building its interconnected capabilities, which is expected to boost its top line, and enhance market share. The company has been gaining from its focus on improving customer experience, solid execution and consistent housing market recovery. These factors also helped its to post its highest quarterly sales and earnings, in the last reported quarter, following which it raised its fiscal 2016 earnings view. Further, Home Depot is on track to achieve its long-term dividend payout, share repurchase and return on investment targets. However, intense competition from specialty stores and mass retailers as well as the impact of soft economic recovery on discretionary spending may prove to be deterrents. Nevertheless, Home Depot's splendid earnings surprise history depicts its inherent strength. Also, estimates have been stable ahead of its third-quarter earnings release.”
HD has been the topic of a number of other reports. Jefferies Group restated a “buy” rating on shares of The Home Depot in a report on Sunday, July 3rd. Argus restated a “hold” rating and issued a $154.00 price target on shares of The Home Depot in a report on Friday, September 16th. Morgan Stanley set a $145.00 price target on shares of The Home Depot and gave the company a “hold” rating in a report on Wednesday, September 28th. Vetr upgraded shares of The Home Depot from a “hold” rating to a “buy” rating and set a $140.30 price target on the stock in a report on Thursday, September 8th. Finally, Nomura upgraded shares of The Home Depot from a “neutral” rating to a “buy” rating and raised their price target for the company from $140.00 to $155.00 in a report on Thursday, June 23rd. Eight analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $146.86.
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Shares of The Home Depot (NYSE:HD) opened at 125.14 on Tuesday. The company has a market capitalization of $154.62 billion, a price-to-earnings ratio of 21.18 and a beta of 0.97. The Home Depot has a 12 month low of $109.62 and a 12 month high of $139.00. The company’s 50-day moving average is $128.79 and its 200 day moving average is $132.32.
The Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 16th. The home improvement retailer reported $1.97 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.97. The Home Depot had a net margin of 8.08% and a return on equity of 110.52%. The business had revenue of $26.47 billion for the quarter, compared to analysts’ expectations of $26.47 billion. During the same period last year, the business earned $1.71 EPS. The company’s revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts anticipate that The Home Depot will post $6.33 earnings per share for the current year.
In related news, EVP Timothy M. Crow sold 49,392 shares of The Home Depot stock in a transaction 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 sale, the executive vice president now owns 224,905 shares of the company’s stock, valued at approximately $30,375,669.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Carol B. Tome sold 97,610 shares of The Home Depot stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $135.35, for a total transaction of $13,211,513.50. Following the completion of the sale, the chief financial officer now directly owns 644,831 shares in the company, valued at approximately $87,277,875.85. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in HD. Aspen Investment Management Inc boosted its stake in The Home Depot by 1.0% in the first quarter. Aspen Investment Management Inc now owns 8,445 shares of the home improvement retailer’s stock worth $1,127,000 after buying an additional 82 shares in the last quarter. Virginia Retirement System bought a new stake in The Home Depot during the first quarter worth about $59,331,000. Badgley Phelps & Bell Inc. boosted its stake in The Home Depot by 2.7% in the first quarter. Badgley Phelps & Bell Inc. now owns 94,783 shares of the home improvement retailer’s stock worth $12,647,000 after buying an additional 2,452 shares in the last quarter. Hyman Charles D bought a new stake in The Home Depot during the first quarter worth about $4,177,000. Finally, Raab & Moskowitz Asset Management LLC boosted its stake in The Home Depot by 11.1% in the first quarter. Raab & Moskowitz Asset Management LLC now owns 7,627 shares of the home improvement retailer’s stock worth $1,017,000 after buying an additional 759 shares in the last quarter. 71.87% of the stock is currently owned by hedge funds and other institutional investors.
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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