TheStreet upgraded shares of Home Depot (NYSE:HD – Get Rating) from a c+ rating to a b rating in a research note issued to investors on Tuesday, TheStreetRatingsTable reports.
HD has been the topic of several other reports. Raymond James cut Home Depot from an outperform rating to a market perform rating in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on Home Depot from $347.00 to $300.00 in a research report on Friday, November 11th. UBS Group boosted their target price on Home Depot from $360.00 to $370.00 and gave the company a buy rating in a report on Wednesday, August 17th. StockNews.com upgraded Home Depot from a hold rating to a buy rating in a report on Tuesday, November 8th. Finally, MKM Partners decreased their price target on Home Depot from $330.00 to $312.00 in a research note on Wednesday, November 9th. Six investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, Home Depot currently has an average rating of Moderate Buy and a consensus price target of $346.29.
Home Depot Trading Down 1.1 %
HD opened at $311.44 on Tuesday. The company has a debt-to-equity ratio of 32.16, a current ratio of 1.39 and a quick ratio of 0.25. Home Depot has a fifty-two week low of $264.51 and a fifty-two week high of $420.61. The company’s 50 day moving average price is $286.13 and its two-hundred day moving average price is $292.44. The firm has a market capitalization of $318.83 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 1.67 and a beta of 0.95.
Home Depot (NYSE:HD – Get Rating) last announced its quarterly earnings results on Tuesday, November 15th. The home improvement retailer reported $4.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.11 by $0.13. Home Depot had a net margin of 10.87% and a negative return on equity of 3,656.69%. The firm had revenue of $38.87 billion for the quarter, compared to the consensus estimate of $37.96 billion. During the same period in the prior year, the firm posted $3.92 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, research analysts predict that Home Depot will post 16.65 earnings per share for the current year.
Home Depot declared that its Board of Directors has initiated a share buyback program on Thursday, August 18th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the home improvement retailer to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
Home Depot Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a yield of 2.44%. Home Depot’s payout ratio is 45.81%.
Insider Activity at Home Depot
In other Home Depot news, EVP Matt Carey sold 12,650 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $316.26, for a total transaction of $4,000,689.00. Following the transaction, the executive vice president now owns 34,522 shares in the company, valued at $10,917,927.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Matt Carey sold 12,650 shares of Home Depot stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $316.26, for a total value of $4,000,689.00. Following the completion of the transaction, the executive vice president now owns 34,522 shares in the company, valued at $10,917,927.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Fahim Siddiqui sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $300.59, for a total transaction of $300,590.00. Following the completion of the transaction, the executive vice president now owns 6,180 shares of the company’s stock, valued at $1,857,646.20. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Home Depot
A number of hedge funds have recently made changes to their positions in HD. Measured Wealth Private Client Group LLC increased its position in Home Depot by 1.5% during the second quarter. Measured Wealth Private Client Group LLC now owns 2,294 shares of the home improvement retailer’s stock worth $629,000 after buying an additional 33 shares during the last quarter. Oliver Lagore Vanvalin Investment Group boosted its holdings in Home Depot by 5.4% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 648 shares of the home improvement retailer’s stock valued at $178,000 after acquiring an additional 33 shares during the period. Virtue Capital Management LLC boosted its holdings in Home Depot by 1.4% during the third quarter. Virtue Capital Management LLC now owns 2,476 shares of the home improvement retailer’s stock valued at $683,000 after acquiring an additional 33 shares during the period. Bernardo Wealth Planning LLC boosted its holdings in Home Depot by 5.1% during the first quarter. Bernardo Wealth Planning LLC now owns 706 shares of the home improvement retailer’s stock valued at $211,000 after acquiring an additional 34 shares during the period. Finally, Coastal Bridge Advisors LLC boosted its holdings in Home Depot by 0.6% during the third quarter. Coastal Bridge Advisors LLC now owns 5,744 shares of the home improvement retailer’s stock valued at $1,585,000 after acquiring an additional 34 shares during the period. 68.66% 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 décor products, as well as facilities maintenance, repair, and operations products The company also offers installation services for flooring, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.
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