Home Depot (NYSE:HD) has been assigned a $191.00 price objective by stock analysts at BMO Capital Markets in a research report issued on Friday. The brokerage currently has a “buy” rating on the home improvement retailer’s stock. BMO Capital Markets’ price objective suggests a potential upside of 4.61% from the company’s current price.
HD has been the subject of several other reports. Zacks Investment Research downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Robert W. Baird set a $175.00 target price on shares of Home Depot and gave the stock a “buy” rating in a report on Sunday, September 10th. Royal Bank of Canada set a $179.00 target price on shares of Home Depot and gave the stock a “buy” rating in a report on Monday, October 30th. Credit Suisse Group set a $171.00 target price on shares of Home Depot and gave the stock a “buy” rating in a report on Friday, October 13th. Finally, Bank of America raised their target price on shares of Home Depot from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $183.28.
Shares of Home Depot (HD) opened at $182.58 on Friday. Home Depot has a one year low of $133.05 and a one year 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 $212,682.14, a price-to-earnings ratio of 25.30, a PEG ratio of 1.85 and a beta of 1.11.
Home Depot announced that its board has approved a share repurchase program on Wednesday, December 6th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the home improvement retailer to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, EVP Matt Carey sold 41,396 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the completion of the sale, the executive vice president now owns 29,559 shares of the company’s stock, valued at $5,410,183.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Jacobi Capital Management LLC lifted its holdings in shares of Home Depot by 16.4% in the 2nd quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock worth $108,000 after acquiring an additional 101 shares during the last quarter. Burt Wealth Advisors lifted its holdings in shares of Home Depot by 83.5% in the 3rd quarter. Burt Wealth Advisors now owns 870 shares of the home improvement retailer’s stock worth $142,000 after acquiring an additional 396 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Home Depot by 63.4% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 876 shares of the home improvement retailer’s stock worth $145,000 after acquiring an additional 340 shares during the last quarter. Empire Life Investments Inc. increased its stake in Home Depot by 233.4% during the 3rd quarter. Empire Life Investments Inc. now owns 957 shares of the home improvement retailer’s stock worth $157,000 after buying an additional 670 shares during the period. Finally, Glassman Wealth Services increased its stake in Home Depot by 38.3% during the 2nd quarter. Glassman Wealth Services now owns 1,084 shares of the home improvement retailer’s stock worth $166,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors 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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