Home Depot (HD) Coverage Initiated by Analysts at Guggenheim
Stock analysts at Guggenheim initiated coverage on shares of Home Depot (NYSE:HD) in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $200.00 price target on the home improvement retailer’s stock. Guggenheim’s price target would indicate a potential upside of 9.27% from the stock’s previous close.
HD has been the subject of several other reports. Zacks Investment Research raised Home Depot from a “hold” rating to a “buy” rating and set a $167.00 target price for the company in a research report on Thursday, August 24th. Telsey Advisory Group lifted their target price on Home Depot from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, December 4th. Robert W. Baird reaffirmed an “outperform” rating and issued a $195.00 target price on shares of Home Depot in a research report on Thursday, November 30th. SunTrust Banks lifted their target price on Home Depot from $167.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, December 7th. Finally, Bank of America lifted their target price on Home Depot from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $182.72.
Shares of Home Depot (NYSE:HD) traded up $1.23 during trading hours on Wednesday, hitting $183.03. The company had a trading volume of 5,176,749 shares, compared to its average volume of 4,478,933. The company has a quick ratio of 0.39, a current ratio of 1.23 and a debt-to-equity ratio of 9.54. The firm has a market cap of $213,730.00, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 1.85 and a beta of 1.11. Home Depot has a 1 year low of $133.05 and a 1 year high of $186.31.
Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.03. The company had revenue of $25.03 billion during the quarter, compared to the consensus estimate of $24.53 billion. Home Depot had a return on equity of 238.88% and a net margin of 8.66%. Home Depot’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.60 EPS. sell-side analysts expect that Home Depot will post 7.37 EPS for the current year.
Home Depot announced that its board has authorized a stock repurchase program on Wednesday, December 6th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the home improvement retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, EVP Matt Carey sold 41,396 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the completion of the sale, the executive vice president now owns 29,559 shares in the company, valued at $5,410,183.77. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.26% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. Jacobi Capital Management LLC lifted its stake in Home Depot by 16.4% in the second quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock valued at $108,000 after buying an additional 101 shares during the last quarter. Burt Wealth Advisors lifted its stake in Home Depot by 83.5% in the third quarter. Burt Wealth Advisors now owns 870 shares of the home improvement retailer’s stock valued at $142,000 after buying an additional 396 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its stake in Home Depot by 63.4% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 876 shares of the home improvement retailer’s stock valued at $145,000 after buying an additional 340 shares during the last quarter. Empire Life Investments Inc. lifted its stake in Home Depot by 233.4% in the third quarter. Empire Life Investments Inc. now owns 957 shares of the home improvement retailer’s stock valued at $157,000 after buying an additional 670 shares during the last quarter. Finally, Glassman Wealth Services lifted its stake in Home Depot by 38.3% in the second quarter. Glassman Wealth Services now owns 1,084 shares of the home improvement retailer’s stock valued at $166,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 70.37% of the company’s stock.
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About 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 serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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