Home Depot (NYSE:HD) PT Raised to $250.00 at Raymond James

Home Depot (NYSE:HD) had its price objective lifted by Raymond James from $245.00 to $250.00 in a research note issued to investors on Wednesday morning, BenzingaRatingsTable reports. They currently have an outperform rating on the home improvement retailer’s stock.

Other analysts have also issued research reports about the company. UBS Group lowered their price target on Home Depot from $268.00 to $250.00 and set a buy rating for the company in a report on Tuesday, April 7th. Nomura Instinet upped their target price on Home Depot from $240.00 to $252.00 and gave the stock a buy rating in a report on Wednesday. Jefferies Financial Group upped their target price on Home Depot from $228.00 to $269.00 and gave the stock a buy rating in a report on Wednesday, May 13th. Loop Capital upgraded Home Depot from a hold rating to a buy rating and set a $235.00 target price for the company in a report on Friday, March 27th. Finally, Stifel Nicolaus upped their target price on Home Depot from $220.00 to $260.00 and gave the stock a buy rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $251.03.

Shares of NYSE HD traded up $1.00 during trading hours on Wednesday, reaching $241.88. The stock had a trading volume of 3,041,253 shares, compared to its average volume of 5,876,560. The firm has a market cap of $258.73 billion, a price-to-earnings ratio of 24.04, a P/E/G ratio of 2.22 and a beta of 1.03. The business’s fifty day moving average price is $213.77 and its two-hundred day moving average price is $219.47. Home Depot has a 52-week low of $140.63 and a 52-week high of $248.32.

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.48%. The ex-dividend date is Wednesday, June 3rd. Home Depot’s dividend payout ratio is currently 58.54%.

In other Home Depot news, EVP William G. Lennie sold 17,993 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $236.02, for a total transaction of $4,246,707.86. Following the sale, the executive vice president now directly owns 54,405 shares of the company’s stock, valued at approximately $12,840,668.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William G. Lennie sold 9,848 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $234.34, for a total value of $2,307,780.32. Following the sale, the executive vice president now directly owns 37,995 shares in the company, valued at $8,903,748.30. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in shares of Home Depot by 18.8% during the 1st quarter. Wellington Management Group LLP now owns 22,254,517 shares of the home improvement retailer’s stock worth $4,155,141,000 after acquiring an additional 3,515,402 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Home Depot by 28.6% during the 1st quarter. Capital Research Global Investors now owns 21,071,595 shares of the home improvement retailer’s stock worth $3,934,286,000 after acquiring an additional 4,690,072 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Home Depot by 1.1% during the 1st quarter. Geode Capital Management LLC now owns 16,956,982 shares of the home improvement retailer’s stock worth $3,160,862,000 after acquiring an additional 191,403 shares in the last quarter. Norges Bank purchased a new stake in shares of Home Depot during the 4th quarter worth about $2,558,090,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Home Depot by 3.1% during the 1st quarter. Bank of New York Mellon Corp now owns 10,051,038 shares of the home improvement retailer’s stock worth $1,876,628,000 after acquiring an additional 303,357 shares in the last quarter. 69.75% of the stock is currently owned by institutional investors.

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 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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