Wedbush reaffirmed their neutral rating on shares of Home Depot (NYSE:HD) in a research report sent to investors on Wednesday morning, BenzingaRatingsTable reports. Wedbush currently has a $230.00 price objective on the home improvement retailer’s stock, up from their previous price objective of $190.00. Wedbush also issued estimates for Home Depot’s Q3 2020 earnings at $2.49 EPS, Q4 2020 earnings at $2.20 EPS, FY2020 earnings at $10.12 EPS, FY2021 earnings at $10.74 EPS and FY2022 earnings at $11.47 EPS.
A number of other analysts have also weighed in on the company. Stifel Nicolaus increased their target price on Home Depot to $230.00 and gave the stock a buy rating in a research note on Monday, August 12th. Gabelli downgraded Home Depot from a buy rating to a hold rating in a research report on Tuesday, July 16th. They noted that the move was a valuation call. Goldman Sachs Group assumed coverage on Home Depot in a research report on Thursday, July 11th. They set a buy rating and a $235.00 price target on the stock. Royal Bank of Canada increased their price target on Home Depot from $229.00 to $233.00 and gave the stock an outperform rating in a research report on Tuesday. Finally, Credit Suisse Group set a $213.00 price target on Home Depot and gave the stock a neutral rating in a research report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Home Depot presently has a consensus rating of Buy and a consensus target price of $220.11.
HD stock opened at $217.47 on Wednesday. The business’s fifty day simple moving average is $212.53 and its two-hundred day simple moving average is $199.56. Home Depot has a twelve month low of $158.09 and a twelve month high of $222.65. The firm has a market cap of $242.50 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 2.04 and a beta of 1.12.
Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $3.07 by $0.10. Home Depot had a negative return on equity of 1,179.69% and a net margin of 10.18%. The business had revenue of $30.84 billion for the quarter, compared to analyst estimates of $30.98 billion. During the same quarter last year, the firm posted $3.05 earnings per share. The business’s revenue was up 1.2% compared to the same quarter last year. As a group, equities research analysts forecast that Home Depot will post 10.11 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be paid a $1.36 dividend. This represents a $5.44 annualized dividend and a dividend yield of 2.50%. Home Depot’s payout ratio is 55.01%.
In other news, CFO Carol B. Tome sold 26,334 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $189.17, for a total value of $4,981,602.78. Following the completion of the transaction, the chief financial officer now directly owns 519,253 shares in the company, valued at $98,227,090.01. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Carol B. Tome sold 145,400 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.04, for a total value of $31,848,416.00. Following the completion of the transaction, the chief financial officer now owns 496,374 shares of the company’s stock, valued at $108,725,760.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 224,122 shares of company stock valued at $47,516,807. Company insiders own 0.27% of the company’s stock.
Several large investors have recently made changes to their positions in the company. D.A. Davidson & CO. raised its holdings in shares of Home Depot by 0.7% in the fourth quarter. D.A. Davidson & CO. now owns 69,690 shares of the home improvement retailer’s stock valued at $11,974,000 after purchasing an additional 455 shares during the last quarter. Perennial Advisors LLC raised its holdings in shares of Home Depot by 129.0% in the fourth quarter. Perennial Advisors LLC now owns 1,509 shares of the home improvement retailer’s stock valued at $259,000 after purchasing an additional 850 shares during the last quarter. Evolution Wealth Advisors LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at about $61,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in shares of Home Depot by 9.3% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 3,277 shares of the home improvement retailer’s stock valued at $563,000 after purchasing an additional 278 shares during the last quarter. Finally, Advisor Partners LLC raised its holdings in shares of Home Depot by 5.1% in the fourth quarter. Advisor Partners LLC now owns 36,645 shares of the home improvement retailer’s stock valued at $6,296,000 after purchasing an additional 1,785 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.
Home Depot Company Profile
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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