Home Depot (NYSE:HD) Now Covered by Analysts at Nomura

Equities researchers at Nomura initiated coverage on shares of Home Depot (NYSE:HD) in a note issued to investors on Friday, The Fly reports. The brokerage set a “neutral” rating and a $240.00 price target on the home improvement retailer’s stock. Nomura’s price objective suggests a potential upside of 3.08% from the company’s current price.

Several other research analysts have also recently issued reports on the company. Argus set a $240.00 target price on Home Depot and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Wells Fargo & Co raised their target price on Home Depot from $250.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Credit Suisse Group raised their target price on Home Depot from $213.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday. Telsey Advisory Group raised their target price on Home Depot from $210.00 to $220.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 25th. Finally, Wolfe Research began coverage on Home Depot in a research note on Tuesday, October 8th. They issued a “buy” rating and a $260.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the company. Home Depot has an average rating of “Buy” and a consensus target price of $229.77.

NYSE:HD traded down $0.10 on Friday, hitting $232.84. The stock had a trading volume of 2,038,410 shares, compared to its average volume of 2,590,316. The stock has a market cap of $254.29 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 2.31 and a beta of 1.04. The business’s 50-day simple moving average is $232.23 and its two-hundred day simple moving average is $214.66. Home Depot has a 52-week low of $158.09 and a 52-week high of $238.99.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.10. The business had revenue of $30.84 billion for the quarter, compared to analysts’ expectations of $30.98 billion. Home Depot had a negative return on equity of 1,179.69% and a net margin of 10.18%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the firm posted $3.05 earnings per share. Equities analysts forecast that Home Depot will post 10.12 EPS for the current fiscal year.

In related news, EVP William G. Lennie sold 9,200 shares of Home Depot stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $220.05, for a total transaction of $2,024,460.00. Following the sale, the executive vice president now owns 84,123 shares of the company’s stock, valued at approximately $18,511,266.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Carol B. Tome sold 145,400 shares of Home Depot stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.04, for a total value of $31,848,416.00. Following the sale, the chief financial officer now directly owns 496,374 shares in the company, valued at approximately $108,725,760.96. The disclosure for this sale can be found here. Insiders sold 177,508 shares of company stock worth $39,076,428 in the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Nuveen Asset Management LLC increased its stake in Home Depot by 3,457.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 9,641,450 shares of the home improvement retailer’s stock worth $2,005,132,000 after acquiring an additional 9,370,409 shares during the last quarter. Morgan Stanley increased its stake in Home Depot by 0.5% in the 2nd quarter. Morgan Stanley now owns 8,327,709 shares of the home improvement retailer’s stock worth $1,731,916,000 after acquiring an additional 44,258 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Home Depot by 0.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,156,949 shares of the home improvement retailer’s stock worth $1,488,431,000 after acquiring an additional 25,410 shares during the last quarter. Fisher Asset Management LLC increased its stake in Home Depot by 26.4% in the 3rd quarter. Fisher Asset Management LLC now owns 6,135,124 shares of the home improvement retailer’s stock worth $1,423,472,000 after acquiring an additional 1,280,467 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its stake in Home Depot by 8.7% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 5,952,239 shares of the home improvement retailer’s stock worth $1,632,392,000 after acquiring an additional 478,602 shares during the last quarter. 70.02% of the stock is currently owned by 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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Analyst Recommendations for Home Depot (NYSE:HD)

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