Home Depot (NYSE:HD)‘s stock had its “buy” rating reiterated by research analysts at Citigroup in a note issued to investors on Wednesday, The Fly reports. They presently have a $219.00 price objective on the home improvement retailer’s stock, up from their prior price objective of $213.00. Citigroup’s price target suggests a potential upside of 17.29% from the company’s previous close.
Several other equities research analysts also recently issued reports on the company. Credit Suisse Group reaffirmed a “hold” rating on shares of Home Depot in a research report on Tuesday, December 12th. Deutsche Bank raised their price target on Home Depot from $176.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, December 7th. SunTrust Banks raised their price target on Home Depot from $167.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, December 7th. BTIG Research raised their price target on Home Depot to $215.00 and gave the company a “buy” rating in a research report on Thursday, December 7th. Finally, Morgan Stanley set a $185.00 price target on Home Depot and gave the company a “buy” rating in a research report on Friday, December 8th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $190.45.
Shares of Home Depot (HD) opened at $186.71 on Wednesday. The stock has a market capitalization of $218,334.03, a PE ratio of 25.93, a PEG ratio of 1.36 and a beta of 1.08. Home Depot has a 1 year low of $143.25 and a 1 year high of $207.60. The company has a debt-to-equity ratio of 9.54, a current ratio of 1.23 and a quick ratio of 0.39.
Home Depot declared that its Board of Directors has approved a share repurchase program on Wednesday, December 6th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the home improvement retailer to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other Home Depot news, EVP Matt Carey sold 41,396 shares of the firm’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 transaction, the executive vice president now owns 29,559 shares in the company, valued at $5,410,183.77. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in HD. Envestnet Asset Management Inc. raised its stake in shares of Home Depot by 3.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 250,745 shares of the home improvement retailer’s stock valued at $47,524,000 after acquiring an additional 7,790 shares during the last quarter. CNB Bank bought a new position in shares of Home Depot in the fourth quarter valued at approximately $1,238,000. Dixon Hubard Feinour & Brown Inc. VA bought a new position in shares of Home Depot in the fourth quarter valued at approximately $389,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Home Depot by 2.0% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 584,628 shares of the home improvement retailer’s stock valued at $110,805,000 after acquiring an additional 11,531 shares during the last quarter. Finally, Pin Oak Investment Advisors Inc. bought a new position in shares of Home Depot in the fourth quarter valued at approximately $199,000. Hedge funds and other institutional investors own 70.36% 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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