Home Depot (NYSE:HD) PT Raised to $265.00

Home Depot (NYSE:HD) had its target price boosted by investment analysts at Loop Capital from $235.00 to $265.00 in a report released on Wednesday, The Fly reports. The firm currently has a “buy” rating on the home improvement retailer’s stock. Loop Capital’s target price would indicate a potential upside of 9.97% from the stock’s current price.

Several other equities analysts have also issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Home Depot from $228.00 to $269.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Cfra upgraded shares of Home Depot from a “hold” rating to a “strong-buy” rating and set a $255.00 target price on the stock in a report on Wednesday, March 11th. Raymond James boosted their target price on shares of Home Depot from $245.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday. Nomura Securities boosted their target price on shares of Home Depot from $204.00 to $215.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. Finally, Robert W. Baird boosted their target price on shares of Home Depot from $215.00 to $265.00 and gave the company an “outperform” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $251.03.

Shares of NYSE:HD traded up $0.09 during mid-day trading on Wednesday, reaching $240.97. 1,508,205 shares of the company’s stock were exchanged, compared to its average volume of 5,816,201. The firm has a market capitalization of $255.84 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 2.19 and a beta of 1.03. The business’s fifty day moving average price is $212.69 and its 200-day moving average price is $219.44. Home Depot has a twelve month low of $140.63 and a twelve month high of $248.32.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.19). The business had revenue of $28.26 billion for the quarter, compared to analyst estimates of $27.59 billion. Home Depot had a negative return on equity of 496.11% and a net margin of 9.79%. Home Depot’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.27 EPS. Sell-side analysts anticipate that Home Depot will post 9.83 EPS for the current fiscal year.

In other Home Depot news, EVP William G. Lennie sold 9,848 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $234.34, for a total value of $2,307,780.32. Following the completion of the sale, the executive vice president now directly owns 37,995 shares of the company’s stock, valued at approximately $8,903,748.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Norges Bank purchased a new position in Home Depot in the fourth quarter valued at about $2,558,090,000. Capital Research Global Investors boosted its stake in Home Depot by 28.6% in the first quarter. Capital Research Global Investors now owns 21,071,595 shares of the home improvement retailer’s stock valued at $3,934,286,000 after acquiring an additional 4,690,072 shares during the last quarter. Advisor Group Holdings Inc. purchased a new position in Home Depot in the first quarter valued at about $77,291,000. Wellington Management Group LLP boosted its stake in Home Depot by 18.8% in the first quarter. Wellington Management Group LLP now owns 22,254,517 shares of the home improvement retailer’s stock valued at $4,155,141,000 after acquiring an additional 3,515,402 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in Home Depot by 27.3% in the first quarter. Jennison Associates LLC now owns 5,304,289 shares of the home improvement retailer’s stock valued at $990,364,000 after acquiring an additional 1,138,587 shares during the last quarter. 69.75% of the stock is 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 various building materials, home improvement products, lawn and garden products, and d├ęcor 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

Analyst Recommendations for Home Depot (NYSE:HD)

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