Home Depot Inc (NYSE:HD) – Wedbush raised their FY2020 earnings per share estimates for shares of Home Depot in a note issued to investors on Thursday. Wedbush analyst S. Basham now forecasts that the home improvement retailer will earn $9.61 per share for the year, up from their previous estimate of $8.68.
Several other brokerages have also recently weighed in on HD. Credit Suisse Group upped their price objective on shares of Home Depot from $183.00 to $222.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Stifel Nicolaus increased their price target on shares of Home Depot from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Telsey Advisory Group reissued an “outperform” rating and set a $220.00 price target (up from $190.00) on shares of Home Depot in a research note on Friday, January 19th. Jefferies Group reissued a “buy” rating and set a $223.00 price target on shares of Home Depot in a research note on Monday, February 5th. Finally, Oppenheimer reissued a “buy” rating on shares of Home Depot in a research note on Tuesday, December 26th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $190.32.
Shares of Home Depot (HD) opened at $186.97 on Monday. The company has a debt-to-equity ratio of 9.54, a quick ratio of 0.39 and a current ratio of 1.23. The firm has a market cap of $218,334.03, a PE ratio of 25.97, a price-to-earnings-growth ratio of 1.36 and a beta of 1.08. Home Depot has a 52 week low of $141.00 and a 52 week high of $207.60.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Home Depot by 0.9% during the second quarter. Vanguard Group Inc. now owns 80,417,310 shares of the home improvement retailer’s stock worth $12,336,016,000 after acquiring an additional 703,292 shares during the period. Capital Research Global Investors raised its holdings in shares of Home Depot by 0.9% during the second quarter. Capital Research Global Investors now owns 20,025,701 shares of the home improvement retailer’s stock worth $3,071,943,000 after acquiring an additional 170,139 shares during the period. Northern Trust Corp raised its holdings in shares of Home Depot by 1.3% during the second quarter. Northern Trust Corp now owns 17,333,833 shares of the home improvement retailer’s stock worth $2,659,010,000 after acquiring an additional 222,958 shares during the period. Geode Capital Management LLC raised its holdings in shares of Home Depot by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 11,675,138 shares of the home improvement retailer’s stock worth $2,207,871,000 after acquiring an additional 259,863 shares during the period. Finally, Jennison Associates LLC raised its holdings in shares of Home Depot by 65.4% during the fourth quarter. Jennison Associates LLC now owns 8,227,834 shares of the home improvement retailer’s stock worth $1,559,421,000 after acquiring an additional 3,254,382 shares during the period. Institutional investors own 70.36% of the company’s stock.
In other Home Depot news, EVP Matt Carey sold 41,396 shares of the stock in a transaction on Friday, December 8th. The shares were sold at an average price of $183.03, for a total value of $7,576,709.88. Following the sale, the executive vice president now directly owns 29,559 shares in the company, valued at $5,410,183.77. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.
Home Depot announced that its Board of Directors has approved a share repurchase program on Wednesday, December 6th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the home improvement retailer to purchase 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.
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Home Depot Company Profile
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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