Home Depot (NYSE:HD) had its target price upped by equities researchers at Nomura Instinet from $252.00 to $266.00 in a research report issued to clients and investors on Tuesday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the home improvement retailer’s stock. Nomura Instinet’s price objective would suggest a potential upside of 8.07% from the stock’s previous close.
HD has been the topic of a number of other research reports. Credit Suisse Group upped their price target on shares of Home Depot from $215.00 to $255.00 and gave the company an “outperform” rating in a research note on Wednesday, May 20th. Zacks Investment Research raised shares of Home Depot from a “hold” rating to a “buy” rating and set a $261.00 target price on the stock in a research note on Monday, June 1st. Stifel Nicolaus increased their target price on shares of Home Depot from $260.00 to $276.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. UBS Group increased their target price on shares of Home Depot from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Finally, Cfra raised shares of Home Depot from a “hold” rating to a “strong-buy” rating and set a $255.00 target price on the stock in a research note on Wednesday, March 11th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Home Depot presently has an average rating of “Buy” and a consensus price target of $254.83.
Home Depot stock opened at $246.13 on Tuesday. The company has a market cap of $266.94 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 2.23 and a beta of 1.06. The firm’s fifty day moving average is $243.42 and its 200 day moving average is $222.82. Home Depot has a 52-week low of $140.63 and a 52-week high of $259.29.
Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $2.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.27 by ($0.19). The business had revenue of $28.26 billion for the quarter, compared to analysts’ expectations of $27.59 billion. Home Depot had a net margin of 9.79% and a negative return on equity of 496.11%. Home Depot’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.27 EPS. As a group, sell-side analysts anticipate that Home Depot will post 9.91 EPS for the current year.
In other news, EVP William G. Lennie sold 17,993 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $236.02, for a total value of $4,246,707.86. Following the sale, the executive vice president now directly owns 54,405 shares in the company, valued at approximately $12,840,668.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Your Advocates Ltd. LLP bought a new stake in shares of Home Depot in the 1st quarter valued at about $27,000. Lion Street Advisors LLC bought a new stake in shares of Home Depot in the 1st quarter valued at about $28,000. Cordasco Financial Network boosted its holdings in shares of Home Depot by 120.5% in the 1st quarter. Cordasco Financial Network now owns 247 shares of the home improvement retailer’s stock valued at $46,000 after buying an additional 135 shares in the last quarter. Danda Trouve Investment Management Inc. boosted its holdings in shares of Home Depot by 960.0% in the 1st quarter. Danda Trouve Investment Management Inc. now owns 265 shares of the home improvement retailer’s stock valued at $49,000 after buying an additional 240 shares in the last quarter. Finally, HighMark Wealth Management LLC bought a new stake in shares of Home Depot in the 4th quarter valued at about $58,000. Institutional investors and hedge funds own 69.85% of the company’s stock.
About Home Depot
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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