Home Depot (NYSE:HD) had its target price raised by BTIG Research to $215.00 in a research note published on Thursday morning. The brokerage currently has a buy rating on the home improvement retailer’s stock.
A number of other equities research analysts have also commented on the stock. Citigroup reissued a buy rating and set a $213.00 price objective on shares of Home Depot in a report on Thursday. Moffett Nathanson began coverage on shares of Home Depot in a report on Monday. They set a buy rating on the stock. Telsey Advisory Group increased their price objective on shares of Home Depot from $180.00 to $190.00 and gave the stock an outperform rating in a report on Monday. Robert W. Baird reissued an outperform rating and set a $195.00 price objective on shares of Home Depot in a report on Thursday, November 30th. Finally, Credit Suisse Group reissued an outperform rating and set a $183.00 price objective (up previously from $175.00) on shares of Home Depot in a report on Wednesday, November 29th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Home Depot presently has an average rating of Buy and an average target price of $181.67.
Shares of Home Depot (HD) traded up $1.41 during trading hours on Thursday, reaching $183.41. 5,091,400 shares of the company’s stock were exchanged, compared to its average volume of 4,466,043. Home Depot has a 12-month low of $131.10 and a 12-month high of $186.31. The company has a current ratio of 1.23, a quick ratio of 0.39 and a debt-to-equity ratio of 9.54. The company has a market cap of $211,129.03, a price-to-earnings ratio of 25.11, a P/E/G ratio of 1.84 and a beta of 1.11.
Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, November 14th. The home improvement retailer reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.03. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. The firm had revenue of $25.03 billion for the quarter, compared to analyst estimates of $24.53 billion. During the same quarter in the prior year, the firm earned $1.60 EPS. The company’s revenue was up 8.1% on a year-over-year basis. analysts expect that Home Depot will post 7.37 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 30th will be given a $0.89 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.94%. Home Depot’s dividend payout ratio is 49.44%.
Home Depot announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 6th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the home improvement retailer to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
Several large investors have recently made changes to their positions in the stock. ING Groep NV increased its stake in Home Depot by 47.0% during the 1st quarter. ING Groep NV now owns 291,115 shares of the home improvement retailer’s stock worth $42,744,000 after purchasing an additional 93,107 shares in the last quarter. State Treasurer State of Michigan increased its stake in Home Depot by 8.7% during the 1st quarter. State Treasurer State of Michigan now owns 1,470,028 shares of the home improvement retailer’s stock worth $215,844,000 after purchasing an additional 117,400 shares in the last quarter. Grimes & Company Inc. increased its stake in Home Depot by 40.3% during the 1st quarter. Grimes & Company Inc. now owns 7,106 shares of the home improvement retailer’s stock worth $1,043,000 after purchasing an additional 2,041 shares in the last quarter. Alpha Cubed Investments LLC increased its stake in Home Depot by 2.2% during the 1st quarter. Alpha Cubed Investments LLC now owns 5,563 shares of the home improvement retailer’s stock worth $817,000 after purchasing an additional 118 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC bought a new stake in Home Depot during the 1st quarter worth approximately $265,000. Institutional investors and hedge funds own 70.37% of the company’s stock.
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About Home Depot
The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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