Wedbush set a $190.00 target price on Home Depot (NYSE:HD) in a research note issued to investors on Wednesday morning, TipRanks reports. The firm currently has a hold rating on the home improvement retailer’s stock.
Several other research firms also recently commented on HD. Zacks Investment Research raised shares of Home Depot from a sell rating to a hold rating in a research note on Thursday. Stifel Nicolaus raised their price target on shares of Home Depot from $200.00 to $210.00 and gave the stock a buy rating in a research note on Wednesday. Royal Bank of Canada reduced their price target on shares of Home Depot from $223.00 to $217.00 and set a buy rating on the stock in a research note on Tuesday, May 7th. Wells Fargo & Co raised their price target on shares of Home Depot from $205.00 to $215.00 and gave the stock an outperform rating in a research note on Thursday, May 2nd. Finally, Telsey Advisory Group reaffirmed a market perform rating and issued a $192.00 price target on shares of Home Depot in a research note on Wednesday, May 1st. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Home Depot currently has an average rating of Buy and a consensus price target of $205.29.
Shares of Home Depot stock traded up $2.75 during trading on Wednesday, hitting $191.66. The stock had a trading volume of 3,767,197 shares, compared to its average volume of 3,887,443. The firm has a market capitalization of $208.54 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09. The company has a current ratio of 1.04, a quick ratio of 0.28 and a debt-to-equity ratio of 17.68. Home Depot has a 12 month low of $158.09 and a 12 month high of $215.43.
Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 21st. The home improvement retailer reported $2.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.17 by $0.10. The firm had revenue of $26.38 billion during the quarter, compared to analyst estimates of $26.34 billion. Home Depot had a net margin of 10.24% and a negative return on equity of 6,597.69%. The business’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the business earned $2.08 EPS. As a group, sell-side analysts predict that Home Depot will post 10.34 earnings per share for the current fiscal year.
Home Depot declared that its board has approved a share repurchase plan on Tuesday, February 26th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the home improvement retailer to buy up to 6.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
In other Home Depot news, EVP Ann Marie Campbell sold 5,450 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $184.67, for a total transaction of $1,006,451.50. Following the transaction, the executive vice president now owns 51,030 shares of the company’s stock, valued at approximately $9,423,710.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Holifield sold 12,000 shares of the firm’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $183.60, for a total transaction of $2,203,200.00. Following the transaction, the executive vice president now directly owns 39,794 shares in the company, valued at approximately $7,306,178.40. The disclosure for this sale can be found here. Insiders have sold a total of 41,194 shares of company stock worth $7,553,141 in the last three months. Insiders own 0.27% of the company’s stock.
Several institutional investors have recently modified their holdings of HD. Oregon Public Employees Retirement Fund grew its position in shares of Home Depot by 8,331.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,467,191 shares of the home improvement retailer’s stock worth $125,000 after buying an additional 21,212,570 shares during the last quarter. Norges Bank purchased a new position in shares of Home Depot in the 4th quarter worth approximately $2,053,401,000. Wellington Management Group LLP grew its position in shares of Home Depot by 30.7% in the 1st quarter. Wellington Management Group LLP now owns 17,277,312 shares of the home improvement retailer’s stock worth $3,315,343,000 after buying an additional 4,055,289 shares during the last quarter. Capital International Investors grew its position in shares of Home Depot by 129.2% in the 3rd quarter. Capital International Investors now owns 7,080,765 shares of the home improvement retailer’s stock worth $1,466,780,000 after buying an additional 3,991,462 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Home Depot by 16.6% in the 1st quarter. Geode Capital Management LLC now owns 15,472,926 shares of the home improvement retailer’s stock worth $2,965,126,000 after buying an additional 2,201,963 shares during the last quarter. 69.31% of the stock is currently owned by hedge funds and other institutional investors.
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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