Home Depot, Inc. (The) (NYSE:HD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “Home Depot’s spectacular past performance has helped it to surpass the industry in the past year. The company has been consistently gaining from its interconnected strategy, focus on Pro customers, and housing market recovery. These factors helped the company post a stellar second-quarter fiscal 2017 performance, which marked its highest ever quarterly sales and earnings. Notably, sales marked its 13th straight beat, while earnings retained its 5-year long trend of positive surprise. Results were driven by solid growth across all regions, both in stores and online. Also, Pro category sales continued to outperform, driven by constant efforts to enrich customers’ experiences. The sturdy first half and expectations of improved home prices encouraged the company to raise its fiscal 2017 view. However, gross margin remained plateaued, and is likely to fall 10 bps in fiscal 2017. Also, competition from online retailers may impact results.”

A number of other brokerages have also issued reports on HD. Vetr lowered shares of Home Depot, Inc. (The) from a “buy” rating to a “hold” rating and set a $164.09 target price on the stock. in a research note on Monday, June 19th. Morgan Stanley restated an “overweight” rating and issued a $173.00 target price (up previously from $165.00) on shares of Home Depot, Inc. (The) in a research note on Wednesday, May 17th. Wedbush restated a “neutral” rating and issued a $165.00 target price (up previously from $155.00) on shares of Home Depot, Inc. (The) in a research note on Wednesday, May 17th. Citigroup Inc. restated a “buy” rating and issued a $179.00 target price (up previously from $168.00) on shares of Home Depot, Inc. (The) in a research note on Wednesday, May 17th. Finally, Argus restated a “buy” rating and issued a $180.00 target price (up previously from $160.00) on shares of Home Depot, Inc. (The) in a research note on Wednesday, May 17th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $169.40.

Home Depot, Inc. (NYSE HD) traded up 0.35% during mid-day trading on Friday, reaching $158.48. The company’s stock had a trading volume of 1,022,162 shares. Home Depot, Inc. has a 1-year low of $119.20 and a 1-year high of $160.86. The stock has a market capitalization of $186.82 billion, a P/E ratio of 22.81 and a beta of 1.07. The stock’s 50 day moving average price is $150.60 and its 200 day moving average price is $151.27.

Home Depot, Inc. (The) (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 15th. The home improvement retailer reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.04. The company had revenue of $28.11 billion during the quarter, compared to analysts’ expectations of $27.84 billion. Home Depot, Inc. (The) had a net margin of 8.63% and a return on equity of 192.30%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.97 EPS. Analysts expect that Home Depot, Inc. will post $7.32 EPS for the current fiscal year.

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In related news, EVP Teresa Wynn Roseborough sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $150.39, for a total transaction of $2,255,850.00. Following the completion of the sale, the executive vice president now directly owns 33,147 shares in the company, valued at $4,984,977.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ann Marie Campbell sold 10,717 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $152.40, for a total transaction of $1,633,270.80. Following the sale, the executive vice president now owns 64,810 shares of the company’s stock, valued at $9,877,044. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Intl Fcstone Inc. bought a new stake in Home Depot, Inc. (The) during the second quarter worth approximately $2,274,000. M Holdings Securities Inc. boosted its holdings in Home Depot, Inc. (The) by 15.4% during the second quarter. M Holdings Securities Inc. now owns 6,776 shares of the home improvement retailer’s stock worth $1,039,000 after buying an additional 905 shares in the last quarter. Griffin Asset Management Inc. bought a new stake in Home Depot, Inc. (The) during the second quarter worth approximately $5,438,000. Gs Investments Inc. bought a new stake in Home Depot, Inc. (The) during the second quarter worth approximately $3,143,000. Finally, Achmea Investment Management B.V. boosted its holdings in Home Depot, Inc. (The) by 50.4% during the second quarter. Achmea Investment Management B.V. now owns 119,680 shares of the home improvement retailer’s stock worth $18,355,000 after buying an additional 40,083 shares in the last quarter. Hedge funds and other institutional investors own 71.45% of the company’s stock.

About Home Depot, Inc. (The)

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 serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.

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Analyst Recommendations for Home Depot, Inc. (The) (NYSE:HD)

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