Home Depot (NYSE:HD)‘s stock had its “hold” rating reissued by stock analysts at Wedbush in a report issued on Wednesday. They currently have a $190.00 target price on the home improvement retailer’s stock, up from their prior target price of $170.00. Wedbush’s price objective suggests a potential upside of 3.34% from the stock’s previous close. Wedbush also issued estimates for Home Depot’s FY2019 earnings at $9.38 EPS, FY2020 earnings at $10.22 EPS, FY2020 earnings at $9.61 EPS and FY2021 earnings at $11.05 EPS.
Several other brokerages also recently weighed in on HD. BTIG Research upped their target price on shares of Home Depot to $215.00 and gave the company a “buy” rating in a research note on Thursday, December 7th. Argus increased their price objective on shares of Home Depot from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th. Oppenheimer set a $178.00 price objective on shares of Home Depot and gave the company a “buy” rating in a research note on Tuesday, November 14th. Jefferies Group reiterated a “buy” rating and set a $223.00 price objective on shares of Home Depot in a research note on Monday, February 5th. Finally, SunTrust Banks increased their price objective on shares of Home Depot to $167.00 and gave the company a “hold” rating in a research note on Wednesday, November 15th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Home Depot currently has an average rating of “Buy” and an average price target of $192.93.
Shares of Home Depot (NYSE:HD) traded up $0.80 during mid-day trading on Wednesday, hitting $183.86. 722,663 shares of the stock traded hands, compared to its average volume of 5,388,281. The stock has a market capitalization of $213,770.00, a P/E ratio of 24.85, a PEG ratio of 1.35 and a beta of 1.08. The company has a quick ratio of 0.39, a current ratio of 1.23 and a debt-to-equity ratio of 9.54. Home Depot has a fifty-two week low of $144.25 and a fifty-two week high of $207.60.
Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 20th. The home improvement retailer reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.07. The business had revenue of $23.88 billion during the quarter, compared to the consensus estimate of $23.65 billion. Home Depot had a net margin of 8.55% and a return on equity of 263.30%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 earnings per share. research analysts forecast that Home Depot will post 9.47 EPS for the current fiscal year.
Home Depot announced that its board has authorized a share buyback program 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 buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, EVP Matt Carey sold 41,396 shares of the stock in a transaction dated 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 owns 29,559 shares of the company’s stock, valued at approximately $5,410,183.77. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in HD. Vanguard Group Inc. increased its stake in Home Depot by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 80,417,310 shares of the home improvement retailer’s stock valued at $12,336,016,000 after buying an additional 703,292 shares during the period. Capital Research Global Investors boosted its position in shares of Home Depot by 0.9% during the 2nd quarter. Capital Research Global Investors now owns 20,025,701 shares of the home improvement retailer’s stock valued at $3,071,943,000 after purchasing an additional 170,139 shares in the last quarter. Northern Trust Corp boosted its position in shares of Home Depot by 1.3% during the 2nd quarter. Northern Trust Corp now owns 17,333,833 shares of the home improvement retailer’s stock valued at $2,659,010,000 after purchasing an additional 222,958 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Home Depot by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 11,675,138 shares of the home improvement retailer’s stock valued at $2,207,871,000 after purchasing an additional 259,863 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Home Depot by 65.4% during the 4th quarter. Jennison Associates LLC now owns 8,227,834 shares of the home improvement retailer’s stock valued at $1,559,421,000 after purchasing an additional 3,254,382 shares in the last quarter. 70.36% of the stock is currently owned by institutional investors and hedge funds.
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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