Home Depot’s (HD) Outperform Rating Reaffirmed at Telsey Advisory Group

Home Depot (NYSE:HD)‘s stock had its “outperform” rating restated by analysts at Telsey Advisory Group in a report released on Friday, MarketBeat reports. They presently have a $220.00 price target on the home improvement retailer’s stock, up from their prior price target of $190.00. Telsey Advisory Group’s price objective would suggest a potential upside of 9.27% from the company’s previous close.

Other analysts have also issued reports about the company. Robert W. Baird reiterated an “outperform” rating and set a $195.00 price objective on shares of Home Depot in a report on Thursday, November 30th. SunTrust Banks increased their price objective on Home Depot from $167.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, December 7th. Bank of America increased their price objective on Home Depot from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Gordon Haskett began coverage on Home Depot in a report on Tuesday, October 3rd. They set a “buy” rating and a $189.00 price objective for the company. Finally, Zacks Investment Research lowered Home Depot from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $184.39.

Home Depot (NYSE HD) traded up $3.00 on Friday, hitting $201.33. The stock had a trading volume of 5,808,942 shares, compared to its average volume of 4,830,000. The stock has a market capitalization of $235,100.00, a price-to-earnings ratio of 27.92, a P/E/G ratio of 1.84 and a beta of 1.11. Home Depot has a one year low of $134.60 and a one year high of $201.33. 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 (NYSE:HD) last released its earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.81 by $0.03. The company had revenue of $25.03 billion during the quarter, compared to analyst estimates of $24.53 billion. Home Depot had a return on equity of 238.88% and a net margin of 8.66%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 earnings per share. equities analysts expect that Home Depot will post 7.39 earnings per share for the current year.

Home Depot declared that its board has approved a stock buyback program on Wednesday, December 6th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the home improvement retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

In other Home Depot news, EVP Matt Carey sold 41,396 shares of the stock in a transaction on Friday, December 8th. The shares were sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the transaction, the executive vice president now directly owns 29,559 shares of the company’s stock, valued at $5,410,183.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.26% of the company’s stock.

Large investors have recently modified their holdings of the company. Mascoma Wealth Management LLC grew its position in Home Depot by 0.6% during the second quarter. Mascoma Wealth Management LLC now owns 1,143 shares of the home improvement retailer’s stock worth $175,000 after buying an additional 7 shares in the last quarter. Paragon Wealth Strategies LLC grew its position in Home Depot by 0.4% during the second quarter. Paragon Wealth Strategies LLC now owns 1,825 shares of the home improvement retailer’s stock worth $280,000 after buying an additional 7 shares in the last quarter. Jackson Grant Investment Advisers Inc. grew its position in Home Depot by 0.4% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,651 shares of the home improvement retailer’s stock worth $253,000 after buying an additional 7 shares in the last quarter. Silicon Valley Capital Partners grew its position in Home Depot by 0.6% during the second quarter. Silicon Valley Capital Partners now owns 1,485 shares of the home improvement retailer’s stock worth $228,000 after buying an additional 9 shares in the last quarter. Finally, Mcdaniel Terry & Co. grew its position in Home Depot by 0.5% during the second quarter. Mcdaniel Terry & Co. now owns 1,678 shares of the home improvement retailer’s stock worth $257,000 after buying an additional 9 shares in the last quarter. 70.18% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Home Depot (NYSE:HD)

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