The Home Depot’s (HD) “Buy” Rating Reaffirmed at Argus
Argus reaffirmed their buy rating on shares of The Home Depot Inc. (NYSE:HD) in a report issued on Saturday. The brokerage currently has a $154.00 price target on the home improvement retailer’s stock.
Other equities analysts also recently issued research reports about the stock. Vetr upgraded shares of The Home Depot from a hold rating to a buy rating and set a $140.30 target price for the company in a research note on Thursday, September 8th. Bank of America Corp. reiterated a buy rating and issued a $128.72 target price (up previously from $127.67) on shares of The Home Depot in a research note on Tuesday. Stifel Nicolaus assumed coverage on shares of The Home Depot in a research note on Tuesday, August 2nd. They issued a buy rating and a $157.00 target price for the company. Royal Bank Of Canada lifted their target price on shares of The Home Depot from $150.00 to $155.00 and gave the stock an outperform rating in a research note on Wednesday, August 17th. Finally, Jefferies Group reiterated a buy rating and issued a $149.00 target price on shares of The Home Depot in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $145.58.
Shares of The Home Depot (NYSE:HD) traded down 0.47% during mid-day trading on Friday, hitting $128.33. 4,428,888 shares of the stock were exchanged. The stock’s 50-day moving average is $125.71 and its 200-day moving average is $130.93. The stock has a market capitalization of $158.56 billion, a price-to-earnings ratio of 21.72 and a beta of 1.05. The Home Depot has a 52 week low of $109.62 and a 52 week high of $139.00.
The Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 15th. The home improvement retailer reported $1.60 EPS for the quarter, topping the consensus estimate of $1.58 by $0.02. The business had revenue of $23.20 billion for the quarter, compared to analyst estimates of $23.05 billion. The Home Depot had a net margin of 8.23% and a return on equity of 123.29%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 earnings per share. Analysts forecast that The Home Depot will post $6.34 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Tuesday, November 29th. The Home Depot’s dividend payout ratio is presently 44.66%.
In related news, EVP Mark Holifield sold 15,606 shares of the stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $128.39, for a total transaction of $2,003,654.34. Following the sale, the executive vice president now directly owns 39,499 shares of the company’s stock, valued at approximately $5,071,276.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Carol B. Tome sold 97,610 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $135.35, for a total transaction of $13,211,513.50. Following the sale, the chief financial officer now directly owns 644,831 shares in the company, valued at $87,277,875.85. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Cohen & Steers Inc. increased its stake in shares of The Home Depot by 37,680.1% in the second quarter. Cohen & Steers Inc. now owns 35,400,000 shares of the home improvement retailer’s stock valued at $32,480,000 after buying an additional 35,306,300 shares during the period. Bank of Montreal Can purchased a new stake in shares of The Home Depot during the second quarter valued at approximately $337,042,000. The Manufacturers Life Insurance Company purchased a new stake in shares of The Home Depot during the third quarter valued at approximately $233,510,000. Emerald Acquisition Ltd. purchased a new stake in shares of The Home Depot during the second quarter valued at approximately $198,627,000. Finally, Jennison Associates LLC increased its stake in shares of The Home Depot by 22.9% in the second quarter. Jennison Associates LLC now owns 7,954,031 shares of the home improvement retailer’s stock valued at $1,015,650,000 after buying an additional 1,483,893 shares during the period. 71.62% of the stock is currently owned by institutional investors.
About The Home Depot
The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serve three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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