Home Depot Inc (NYSE:HD) has been given an average rating of “Buy” by the thirty-two research firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $185.89.
A number of analysts have issued reports on HD shares. Royal Bank of Canada set a $179.00 price target on Home Depot and gave the stock a “buy” rating in a report on Monday, October 30th. Citigroup lifted their price target on Home Depot from $179.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, November 16th. Credit Suisse Group set a $171.00 target price on Home Depot and gave the stock a “buy” rating in a research report on Friday, October 13th. Bank of America lifted their target price on Home Depot from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Finally, KeyCorp initiated coverage on Home Depot in a research report on Tuesday, November 7th. They set a “sector weight” rating on the stock.
Shares of Home Depot (NYSE HD) traded up $3.00 during midday trading on Friday, reaching $201.33. The company’s stock had a trading volume of 5,808,942 shares, compared to its average volume of 4,830,000. The stock has a market cap of $235,100.00, a P/E ratio of 27.92, a price-to-earnings-growth ratio of 1.84 and a beta of 1.11. The company has a debt-to-equity ratio of 9.54, a current ratio of 1.23 and a quick ratio of 0.39. Home Depot has a 12 month low of $134.60 and a 12 month high of $201.33.
Home Depot declared that its Board of Directors has initiated a stock buyback plan on Wednesday, December 6th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
In related news, EVP Matt Carey sold 41,396 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $183.03, for a total value of $7,576,709.88. Following the transaction, the executive vice president now owns 29,559 shares in the company, valued at approximately $5,410,183.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Home Depot by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 80,417,310 shares of the home improvement retailer’s stock worth $12,336,016,000 after purchasing an additional 703,292 shares during the period. Capital Research Global Investors boosted its stake in shares of Home Depot by 0.9% during the 2nd quarter. Capital Research Global Investors now owns 20,025,701 shares of the home improvement retailer’s stock worth $3,071,943,000 after acquiring an additional 170,139 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Home Depot by 1.3% during the 2nd quarter. Northern Trust Corp now owns 17,333,833 shares of the home improvement retailer’s stock worth $2,659,010,000 after acquiring an additional 222,958 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Home Depot by 1.1% during the 2nd quarter. Alliancebernstein L.P. now owns 8,027,935 shares of the home improvement retailer’s stock worth $1,231,485,000 after acquiring an additional 84,750 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Home Depot by 1.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 6,184,365 shares of the home improvement retailer’s stock worth $1,172,123,000 after acquiring an additional 95,146 shares in the last quarter. Institutional investors own 70.18% of the company’s stock.
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Home Depot Company Profile
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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