The Home Depot, Inc. (NYSE:HD – Get Rating) has been given a consensus rating of Moderate Buy by the 26 analysts covering the company, reports Marketbeat.com. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 12-month target price among brokers who have issued reports on the stock over the past year is $366.48.
Several analysts have issued reports on HD stocks. JPMorgan Chase & Co. lowered its target price on Home Depot shares to $311.00 from $335.00 and rated the company as “overweight” in a research report on Tuesday, August 9. Citigroup increased its target price on Home Depot shares to $348.00 from $327.00 in a report on Friday, May 20. Raymond James raised its target price on Home Depot to $350.00 from $340.00 and gave the company a rating of “outperform” in a research note on Wednesday, August 17th. Evercore ISI lowered its price target on Home Depot to $360.00 in a research note on Thursday, June 9. Finally, Morgan Stanley raised its price target on Home Depot to $360.00 from $350.00 and rated the company as “overweight” in a research note on Wednesday, August 17.
Home Depot stock performance
Shares of HD stock opened at $275.97 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.25 and a debt to equity ratio of 165.70. The company has a market cap of $282.52 billion, a P/E of 16.96, a P/E of 1.48, and a beta of 0.99. The company’s 50-day simple moving average is $300.72 and its 200-day simple moving average is $301.23. Home Depot has a 52-week low of $264.51 and a 52-week high of $420.61.
Home Depot (NYSE:HD – Get Rating) last issued its quarterly earnings data on Tuesday, August 16th. The home improvement retailer reported $5.05 EPS for the quarter, beating the consensus estimate of $4.95 by $0.10. Home Depot had a negative return on equity of 3,166.43% and a net margin of 10.88%. The company had revenue of $43.79 billion in the quarter, compared to analyst estimates of $43.33 billion. For the same period last year, the company posted earnings per share of $4.53. The company’s revenue increased 6.5% compared to the prior-year quarter. As a group, equity analysts expect Home Depot to post 16.56 EPS for the year to date.
Home Depot announced that its board of directors initiated a stock repurchase plan on Thursday, August 18, allowing the company to repurchase $15.00 billion in stock. This buyback authorization allows the hardware store retailer to acquire up to 4.5% of its shares through purchases on the free stock exchange. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
Home Depot Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. A dividend of $1.90 per share was paid to shareholders of record on Thursday, September 1st. That equates to an annualized dividend of $7.60 and a dividend yield of 2.75%. The ex-dividend date of this dividend was Wednesday August 31st. Home Depot’s dividend payout ratio (DPR) is 46.71%.
Insiders place their bets
In related news, EVP Matt Carey sold 12,650 shares of the stock in a transaction that took place on Monday, August 22nd. The stock sold at an average price of $316.26 for a total value of $4,000,689.00. Upon closing of the transaction, the Executive Vice President now directly owns 34,522 shares of the Company, valued at approximately $10,917,927.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Fahim Siddiqui sold 1,000 shares of the company’s shares in a transaction that took place on Friday, September 9th. The shares sold at an average price of $300.59 for a total value of $300,590.00. Upon completion of the sale, the Executive Vice President now directly owns 6,180 shares of the Company, valued at approximately $1,857,646.20. The sale was disclosed in a filing with the SEC, available at this hyperlink. In addition, EVP Matt Carey sold 12,650 shares of the company’s stock in a transaction that took place on Monday, August 22nd. The shares were sold at an average price of $316.26 for a total transaction of $4,000,689.00. Following the transaction, the Executive Vice President now owns 34,522 shares of the Company, valued at approximately $10,917,927.72. The disclosure for this sale can be found here. 0.17% of the shares are owned by insiders.
Institutional inflows and outflows
Hedge funds have recently bought and sold shares in the company. Rinkey Investments acquired a new stake in Home Depot worth $25,000 during the fourth quarter. Grayhawk Investment Strategies Inc. acquired a new interest in Home Depot valued at approximately $28,000 during the second quarter. GW&K Investment Management LLC acquired a new position in Home Depot stock valued at about $25,000 during the first quarter. Tobam acquired a new position in Home Depot stock worth about $27,000 during the first quarter. Finally, Mizuho Securities Co.Ltd. its holdings of Home Depot stock rose 119.5% in the second quarter. Mizuho Securities Co.Ltd. now owns 90 shares of the $37,000 home improvement retailer, having acquired an additional 49 shares during the period. 68.66% of the shares are owned by institutional investors and hedge funds.
Home Depot company profile
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell a variety of building materials, home improvement products, lawn and garden products, and decorating products, as well as products for facility maintenance, repair, and operations. The company also offers installation services for flooring, cabinets, and cabinet makeovers. Countertops, stoves and central air systems and windows.
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