Home Depot (NYSE: HD – Get Note) had its target price raised by Guggenheim equity researchers from $350.00 to $355.00 in a report on Wednesday, reports The Fly. The brokerage currently has a “buy” rating on the home improvement retailer’s stock. Guggenheim’s price target indicates a potential upside of 9.16% from the current share price.
HD has been the subject of a number of other reports. Gordon Haskett upgraded Home Depot from a “buy” rating to an “accumulate” rating in a Friday, May 6 research report. Piper Sandler raised her price target on Home Depot from $310.00 to $321.00 and gave the stock a “neutral” rating in a Wednesday, May 18 research report. Morgan Stanley raised its price target on Home Depot from $350.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday. StockNews.com upgraded Home Depot from a “hold” rating to a “buy” rating in a Monday, Aug. 8 research report. Finally, Robert W. Baird raised his price target on Home Depot from $335.00 to $360.00 and gave the company an “outperform” rating in a research report on Tuesday. Four analysts gave the stock a hold rating and twenty gave the stock a buy rating. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $365.50.
Home Depot stock performance
Home Depot shares opened at $325.21 on Wednesday. The stock’s 50-day simple moving average is $293.40 and its two-hundred-day simple moving average is $308.08. The company has a debt ratio of 165.70, a quick ratio of 0.28 and a current ratio of 1.18. The stock has a market capitalization of $334.24 billion, a price/earnings ratio of 19.99, a PEG ratio of 1.81 and a beta of 0.99. Home Depot has a fifty-two week low of $264.51 and a fifty-two week high of $420.61.
Home Depot (NYSE:HD – Get Rating) last released quarterly earnings data on Tuesday, August 16. The home improvement retailer reported earnings per share of $5.05 for the quarter, beating the consensus estimate of $4.95 by $0.10. The Home Depot had a negative return on equity of 3,166.43% and a net margin of 10.88%. The company posted revenue of $43.79 billion for the quarter, versus $43.33 billion expected by analysts. During the same period a year earlier, the company posted EPS of $4.53. The company’s revenue increased 6.5% year over year. As a group, analysts expect Home Depot to post earnings per share of 16.42 for the current fiscal year.
The Home Depot said its board launched a stock buyback plan on Thursday, Aug. 18 that sees the company repurchase $15.00 billion in outstanding stock. This repurchase authorization allows the home improvement retailer to acquire up to 4.5% of its shares through open market purchases. Stock buyback plans are usually an indication that the company’s management believes its stock is undervalued.
Insider Buying and Selling at The Home Depot
In related news, Becker manager Caryn Seidman acquired 1,500 shares in a trade dated Monday, May 23. The shares were acquired at an average cost of $287.73 per share, for a total transaction of $431,595.00. Following the completion of the purchase, the director now owns 1,500 shares of the company, valued at approximately $431,595. The purchase was disclosed in a document filed with the SEC, which is available via this link. In other Home Depot news, Becker manager Caryn Seidman purchased 1,500 shares in a trade that took place on Monday, May 23. The shares were purchased at an average cost of $287.73 per share, for a total transaction of $431,595.00. Following completion of the transaction, the director now owns 1,500 shares of the company, valued at approximately $431,595. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, Executive Vice President Ann Marie Campbell sold 11,293 shares of the company in a trade dated Tuesday, May 24. The stock was sold at an average price of $288.03, for a total transaction of $3,252,722.79. Following the transaction, the executive vice president now owns 51,175 shares of the company, valued at $14,739,935.25. The disclosure of this sale can be found here. 0.17% of the shares are held by insiders.
Hedge funds weigh on Home Depot
Institutional investors and hedge funds have recently bought and sold shares of the company. Sky Investment Group LLC increased its stake in Home Depot shares by 3.4% in Q1. Sky Investment Group LLC now owns 21,198 shares of the home improvement retailer worth $6,345,000 after acquiring an additional 703 shares in the last quarter. Everhart Financial Group Inc. increased its stake in Home Depot shares by 28.5% in Q1. Everhart Financial Group Inc. now owns 2,062 shares of the home improvement retailer worth $617,000 after acquiring 457 additional shares during the period. Diversified LLC increased its equity stake in Home Depot by 1.5% in Q1. Diversified LLC now owns 3,257 shares of the home improvement retailer valued at $975,000 after buying 47 additional shares in the last quarter. Matisse Capital increased its stake in Home Depot shares by 3.9% in the 1st quarter. Matisse Capital now owns 2,664 shares of the home improvement retailer valued at $797,000 after buying an additional 100 shares last quarter. Finally, Hexagon Capital Partners LLC increased its stake in Home Depot shares by 4.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 3,961 shares of the home improvement retailer valued at $1,186,000 after buying 173 additional shares last quarter. 70.61% of the shares are currently held by institutional investors and hedge funds.
About Home Depot
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The Home Depot, Inc. operates as a home improvement retailer. It operates Home Depot stores that sell a variety of building materials, home improvement products, lawn and garden products, and decorating products, as well as facility maintenance, repair and operation products. countertops, furnaces and central air conditioning systems, and windows.
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