Home Depot (NYSE:HD) Price Target Raised to $233.00

Home Depot (NYSE:HD) had its target price increased by Royal Bank of Canada from $229.00 to $233.00 in a research note published on Tuesday, The Fly reports. The brokerage currently has an outperform rating on the home improvement retailer’s stock.

Other equities research analysts have also recently issued reports about the stock. Loop Capital increased their price objective on shares of Home Depot to $195.00 and gave the company a hold rating in a research note on Friday, July 19th. Credit Suisse Group set a $213.00 price target on shares of Home Depot and gave the stock a neutral rating in a research note on Tuesday. Zacks Investment Research raised shares of Home Depot from a sell rating to a hold rating in a research note on Thursday, May 23rd. Robert W. Baird reaffirmed a positive rating on shares of Home Depot in a research note on Thursday, April 25th. Finally, Wells Fargo & Co raised their price target on shares of Home Depot from $215.00 to $230.00 and gave the stock an outperform rating in a research note on Wednesday, August 14th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $220.11.

Shares of NYSE HD opened at $221.02 on Tuesday. The stock has a market cap of $238.86 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 2.01 and a beta of 1.12. Home Depot has a 52 week low of $158.09 and a 52 week high of $222.65. The company’s 50-day moving average price is $212.40 and its 200 day moving average price is $199.39.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $3.17 EPS for the quarter, beating the Zacks’ consensus estimate of $3.07 by $0.10. The firm had revenue of $30.84 billion for the quarter, compared to analysts’ expectations of $30.98 billion. Home Depot had a net margin of 10.18% and a negative return on equity of 1,179.69%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $3.05 EPS. On average, analysts predict that Home Depot will post 10.11 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be issued a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a dividend yield of 2.46%. Home Depot’s payout ratio is currently 55.01%.

In other news, EVP Teresa Wynn Roseborough sold 8,500 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $194.38, for a total transaction of $1,652,230.00. Following the transaction, the executive vice president now directly owns 13,357 shares in the company, valued at approximately $2,596,333.66. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Carol B. Tome sold 26,334 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $189.17, for a total transaction of $4,981,602.78. Following the transaction, the chief financial officer now owns 519,253 shares in the company, valued at $98,227,090.01. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,522 shares of company stock worth $13,643,931. Insiders own 0.27% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Krane Funds Advisors LLC acquired a new stake in shares of Home Depot during the second quarter worth approximately $25,000. Evolution Wealth Advisors LLC acquired a new stake in shares of Home Depot during the second quarter worth approximately $31,000. Virtus ETF Advisers LLC acquired a new stake in shares of Home Depot during the fourth quarter worth approximately $32,000. Thor Advisors LLC acquired a new stake in shares of Home Depot during the first quarter worth approximately $32,000. Finally, Enlightenment Research LLC acquired a new position in Home Depot in the fourth quarter worth $34,000. Institutional investors and hedge funds own 69.35% of the company’s stock.

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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The Fly

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