Home Depot (NYSE:HD) had its target price upped by stock analysts at Credit Suisse Group from $183.00 to $222.00 in a research report issued on Wednesday, Marketbeat Ratings reports. The brokerage currently has an “outperform” rating on the home improvement retailer’s stock. Credit Suisse Group’s price target suggests a potential upside of 7.13% from the stock’s current price.
A number of other analysts have also weighed in on HD. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $164.00 price objective on shares of Home Depot in a research note on Sunday, October 1st. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $220.00 price objective (up from $190.00) on shares of Home Depot in a research note on Friday, January 19th. Zacks Investment Research lowered shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Robert W. Baird reiterated an “outperform” rating and issued a $195.00 target price on shares of Home Depot in a report on Thursday, November 30th. Finally, SunTrust Banks boosted their target price on shares of Home Depot to $167.00 and gave the stock a “hold” rating in a report on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Home Depot has an average rating of “Buy” and a consensus target price of $187.76.
Home Depot (NYSE:HD) traded up $1.86 during trading hours on Wednesday, reaching $207.23. 3,655,333 shares of the company were exchanged, compared to its average volume of 4,520,000. Home Depot has a 52 week low of $136.33 and a 52 week high of $207.31. The stock has a market capitalization of $241,990.00, a price-to-earnings ratio of 28.74, a PEG ratio of 1.91 and a beta of 1.11. The company has a current ratio of 1.23, a quick ratio of 0.39 and a debt-to-equity ratio of 9.54.
Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.81 by $0.03. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. The company had revenue of $25.03 billion during the quarter, compared to analyst estimates of $24.53 billion. During the same period in the prior year, the firm earned $1.60 earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. sell-side analysts predict that Home Depot will post 7.37 EPS for the current fiscal year.
Home Depot declared that its board has initiated a stock buyback plan on Wednesday, December 6th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the home improvement retailer to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, EVP Matt Carey sold 41,396 shares of the company’s stock in a transaction dated 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 owns 29,559 shares in the company, valued at $5,410,183.77. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of HD. Jacobi Capital Management LLC boosted its position in Home Depot by 16.4% in the 2nd quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock worth $108,000 after purchasing an additional 101 shares in the last quarter. Denali Advisors LLC purchased a new stake in Home Depot in the 4th quarter worth approximately $133,000. Burt Wealth Advisors boosted its position in Home Depot by 83.5% in the 3rd quarter. Burt Wealth Advisors now owns 870 shares of the home improvement retailer’s stock worth $142,000 after purchasing an additional 396 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in Home Depot by 63.4% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 876 shares of the home improvement retailer’s stock worth $145,000 after purchasing an additional 340 shares in the last quarter. Finally, Empire Life Investments Inc. boosted its position in Home Depot by 233.4% in the 3rd quarter. Empire Life Investments Inc. now owns 957 shares of the home improvement retailer’s stock worth $157,000 after purchasing an additional 670 shares in the last quarter. Hedge funds and other institutional investors own 70.14% of the company’s stock.
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.