Zacks Investment Research downgraded shares of Home Depot, Inc. (The) (NYSE:HD) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

According to Zacks, “Home Depot’s spectacular past performance has helped it to surpass the industry in the past year. The company has been consistently gaining from its interconnected strategy, focus on Pro customers, and housing market recovery. These factors helped the company post a stellar second-quarter fiscal 2017 performance, which marked its highest ever quarterly sales and earnings. Notably, sales marked its 13th straight beat, while earnings retained its 5-year long trend of positive surprise. Results were driven by solid growth across all regions, both in stores and online. Also, Pro category sales continued to outperform, driven by constant efforts to enrich customers’ experiences. The sturdy first half and expectations of improved home prices encouraged the company to raise its fiscal 2017 view. However, gross margin remained plateaued, and is likely to fall 10 bps in fiscal 2017. Also, competition from online retailers may impact results.”

A number of other brokerages have also issued reports on HD. Royal Bank Of Canada reissued a buy rating and issued a $158.00 target price on shares of Home Depot, Inc. (The) in a research report on Tuesday, May 2nd. Credit Suisse Group set a $163.00 target price on Home Depot, Inc. (The) and gave the company a buy rating in a research report on Tuesday, May 2nd. BTIG Research lifted their target price on Home Depot, Inc. (The) from $155.00 to $175.00 and gave the company a buy rating in a research report on Friday, May 5th. Atlantic Securities lowered Home Depot, Inc. (The) from an overweight rating to a neutral rating and set a $168.00 target price on the stock. in a research report on Thursday, May 11th. Finally, Jefferies Group LLC lifted their target price on Home Depot, Inc. (The) from $167.00 to $182.00 and gave the company a buy rating in a research report on Friday, May 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Home Depot, Inc. (The) has a consensus rating of Buy and a consensus target price of $169.77.

Home Depot, Inc. (NYSE HD) traded up 0.94% during midday trading on Wednesday, reaching $149.65. 3,047,971 shares of the company were exchanged. The stock has a market capitalization of $176.41 billion, a price-to-earnings ratio of 21.54 and a beta of 1.08. Home Depot, Inc. has a 52-week low of $119.20 and a 52-week high of $160.86. The firm’s 50-day moving average price is $150.67 and its 200 day moving average price is $150.48.

Home Depot, Inc. (The) (NYSE:HD) last released its quarterly earnings data on Tuesday, August 15th. The home improvement retailer reported $2.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.21 by $0.04. Home Depot, Inc. (The) had a return on equity of 192.30% and a net margin of 8.63%. The business had revenue of $28.11 billion for the quarter, compared to analysts’ expectations of $27.84 billion. During the same quarter in the previous year, the business posted $1.97 EPS. Home Depot, Inc. (The)’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities analysts predict that Home Depot, Inc. will post $7.32 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 31st will be paid a $0.89 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $3.56 annualized dividend and a yield of 2.38%. Home Depot, Inc. (The)’s dividend payout ratio (DPR) is presently 51.15%.

In related news, EVP Ann Marie Campbell sold 10,717 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $152.40, for a total value of $1,633,270.80. Following the completion of the sale, the executive vice president now directly owns 64,810 shares in the company, valued at approximately $9,877,044. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Teresa Wynn Roseborough sold 15,000 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $150.39, for a total value of $2,255,850.00. Following the completion of the sale, the executive vice president now owns 33,147 shares of the company’s stock, valued at $4,984,977.33. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. American Beacon Advisors Inc. bought a new stake in Home Depot, Inc. (The) during the first quarter worth $100,000. Jacobi Capital Management LLC increased its stake in Home Depot, Inc. (The) by 16.4% in the second quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock worth $108,000 after buying an additional 101 shares during the last quarter. Riggs Asset Managment Co. Inc. increased its stake in Home Depot, Inc. (The) by 114.1% in the first quarter. Riggs Asset Managment Co. Inc. now owns 745 shares of the home improvement retailer’s stock worth $109,000 after buying an additional 397 shares during the last quarter. CT Financial Advisors LLC increased its stake in Home Depot, Inc. (The) by 0.4% in the first quarter. CT Financial Advisors LLC now owns 758 shares of the home improvement retailer’s stock worth $111,000 after buying an additional 3 shares during the last quarter. Finally, University of Texas Investment Managment Co. bought a new stake in Home Depot, Inc. (The) during the first quarter worth $132,000. Institutional investors and hedge funds own 71.27% of the company’s stock.

Home Depot, Inc. (The) Company Profile

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 serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.

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Analyst Recommendations for Home Depot, Inc. (The) (NYSE:HD)

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