Shares of The Home Depot (NYSE:HD) have been assigned a consensus rating of “Buy” from the thirty-two analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $194.24.
A number of analysts have recently commented on HD shares. BMO Capital Markets boosted their price target on The Home Depot from $191.00 to $213.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. BTIG Research boosted their price target on The Home Depot to $215.00 and gave the company a “buy” rating in a report on Thursday, December 7th. Jefferies Group restated a “buy” rating and issued a $223.00 price target on shares of The Home Depot in a report on Monday, February 5th. Morgan Stanley set a $210.00 target price on The Home Depot and gave the company a “buy” rating in a research report on Wednesday, March 21st. Finally, Zacks Investment Research raised The Home Depot from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a research report on Tuesday, February 6th.
Shares of The Home Depot stock traded up $1.68 during trading on Thursday, reaching $179.12. The stock had a trading volume of 2,095,046 shares, compared to its average volume of 5,336,631. The firm has a market cap of $202,908.06, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 1.39 and a beta of 1.15. The Home Depot has a 52 week low of $144.25 and a 52 week high of $207.60. The company has a debt-to-equity ratio of 16.69, a current ratio of 1.17 and a quick ratio of 0.38.
The Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.07. The company had revenue of $23.88 billion for the quarter, compared to analyst estimates of $23.65 billion. The Home Depot had a return on equity of 306.73% and a net margin of 8.55%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.44 earnings per share. equities analysts expect that The Home Depot will post 9.43 EPS for the current year.
The Home Depot announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 6th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the home improvement retailer to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Wednesday, March 7th. This is a boost from The Home Depot’s previous quarterly dividend of $0.89. The Home Depot’s payout ratio is currently 55.23%.
In related news, Director Gregory D. Brenneman purchased 16,827 shares of the business’s stock in a transaction that occurred on Wednesday, March 21st. The stock was acquired at an average cost of $178.29 per share, for a total transaction of $3,000,085.83. Following the completion of the purchase, the director now owns 46,332 shares in the company, valued at approximately $8,260,532.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Armando M. Codina purchased 6,650 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The stock was bought at an average price of $178.66 per share, with a total value of $1,188,089.00. Following the completion of the purchase, the director now owns 42,300 shares of the company’s stock, valued at approximately $7,557,318. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 169,027 shares of company stock valued at $31,220,882. Corporate insiders own 0.26% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Wela Strategies Inc. bought a new position in shares of The Home Depot during the 2nd quarter worth about $217,000. Beach Investment Management LLC. boosted its position in shares of The Home Depot by 1,023.1% during the 2nd quarter. Beach Investment Management LLC. now owns 68,511 shares of the home improvement retailer’s stock worth $10,510,000 after purchasing an additional 62,411 shares in the last quarter. Advent Capital Management DE bought a new position in shares of The Home Depot during the 2nd quarter worth about $690,000. Pictet & Cie Europe SA boosted its position in shares of The Home Depot by 5.6% during the 2nd quarter. Pictet & Cie Europe SA now owns 31,631 shares of the home improvement retailer’s stock worth $4,852,000 after purchasing an additional 1,685 shares in the last quarter. Finally, Capital Advisors Inc. OK boosted its position in shares of The Home Depot by 0.5% during the 2nd quarter. Capital Advisors Inc. OK now owns 17,544 shares of the home improvement retailer’s stock worth $2,691,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 70.69% of the company’s stock.
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About The 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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