Home Depot (NYSE:HD) had its target price cut by equities researchers at Royal Bank of Canada from $223.00 to $217.00 in a research report issued on Tuesday, May 7th, The Fly reports. The brokerage presently has a “buy” rating on the home improvement retailer’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 14.22% from the company’s current price.
Other equities analysts have also issued research reports about the stock. Citigroup cut their price objective on shares of Home Depot from $224.00 to $218.00 and set a “buy” rating on the stock in a report on Monday, April 1st. Edward Jones upgraded shares of Home Depot from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. Deutsche Bank boosted their price objective on shares of Home Depot from $200.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, February 27th. Credit Suisse Group set a $194.00 price objective on shares of Home Depot and gave the stock a “hold” rating in a report on Tuesday, February 26th. Finally, Zacks Investment Research downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Monday, January 14th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Home Depot currently has an average rating of “Buy” and an average price target of $205.29.
Shares of NYSE:HD traded down $1.56 during midday trading on Tuesday, hitting $189.99. 4,450,649 shares of the company’s stock traded hands, compared to its average volume of 4,081,009. The company has a current ratio of 1.04, a quick ratio of 0.26 and a debt-to-equity ratio of 17.68. The firm has a market capitalization of $213.70 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.78 and a beta of 1.09. Home Depot has a twelve month low of $158.09 and a twelve month high of $215.43.
Home Depot (NYSE:HD) last posted its earnings results on Tuesday, May 21st. The home improvement retailer reported $2.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.10. Home Depot had a net margin of 10.24% and a negative return on equity of 6,597.69%. The business had revenue of $26.38 billion for the quarter, compared to analyst estimates of $26.34 billion. During the same quarter in the previous year, the business posted $2.08 EPS. The business’s quarterly revenue was up 5.7% on a year-over-year basis. On average, analysts predict that Home Depot will post 10.11 earnings per share for the current year.
Home Depot announced that its board has authorized a stock buyback program on Tuesday, February 26th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the home improvement retailer to reacquire up to 6.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
In related news, EVP Ann Marie Campbell sold 5,450 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $184.67, for a total transaction of $1,006,451.50. Following the completion of the sale, the executive vice president now owns 51,030 shares of the company’s stock, valued at approximately $9,423,710.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Edward P. Decker sold 23,744 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $182.93, for a total transaction of $4,343,489.92. Following the sale, the executive vice president now directly owns 86,813 shares of the company’s stock, valued at approximately $15,880,702.09. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,194 shares of company stock valued at $10,066,041. Insiders own 0.27% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Paragon Capital Management LLC lifted its stake in shares of Home Depot by 32.3% in the 4th quarter. Paragon Capital Management LLC now owns 1,654 shares of the home improvement retailer’s stock worth $284,000 after acquiring an additional 404 shares during the period. RDL Financial Inc. lifted its stake in shares of Home Depot by 5.2% in the 4th quarter. RDL Financial Inc. now owns 13,805 shares of the home improvement retailer’s stock worth $2,372,000 after acquiring an additional 678 shares during the period. Pinnacle Financial Partners Inc. lifted its stake in shares of Home Depot by 13.5% in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 21,114 shares of the home improvement retailer’s stock worth $4,374,000 after acquiring an additional 2,504 shares during the period. PFG Advisors acquired a new stake in shares of Home Depot in the 4th quarter worth approximately $702,000. Finally, Prudential Financial Inc. lifted its stake in shares of Home Depot by 3.5% in the 3rd quarter. Prudential Financial Inc. now owns 1,348,582 shares of the home improvement retailer’s stock worth $279,359,000 after acquiring an additional 45,754 shares during the period. 69.22% of the stock is owned by institutional investors and hedge funds.
About 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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