Nomura Instinet Raises Home Depot (NYSE:HD) Price Target to $266.00

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 d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

See Also: How to Trade Using Analysts Ratings

Analyst Recommendations for Home Depot (NYSE:HD)

Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.