Analysts Set The Home Depot (HD) Price Target at $194.24

The Home Depot (NYSE:HD) has been given a consensus rating of “Buy” by the thirty-two research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, twenty-two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $194.24.

HD has been the subject of a number of research analyst reports. Zelman & Associates downgraded shares of The Home Depot from a “buy” rating to a “hold” rating in a report on Monday, December 11th. Zacks Investment Research lowered shares of The Home Depot from a “buy” rating to a “hold” rating in a research note on Monday, December 11th. Credit Suisse Group reaffirmed a “hold” rating on shares of The Home Depot in a research note on Tuesday, December 12th. Guggenheim started coverage on shares of The Home Depot in a research note on Wednesday, December 13th. They set a “buy” rating and a $200.00 price objective for the company. Finally, BMO Capital Markets set a $191.00 price objective on shares of The Home Depot and gave the company a “buy” rating in a research note on Friday, December 15th.

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In other news, Director Gregory D. Brenneman acquired 16,827 shares of the company’s stock in a transaction that occurred on Wednesday, March 21st. The shares were purchased at an average price of $178.29 per share, for a total transaction of $3,000,085.83. Following the completion of the acquisition, the director now owns 46,332 shares of the company’s stock, valued at approximately $8,260,532.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Edward P. Decker sold 17,660 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $187.32, for a total value of $3,308,071.20. Following the completion of the transaction, the executive vice president now owns 73,815 shares in the company, valued at approximately $13,827,025.80. The disclosure for this sale can be found here. Insiders sold 169,027 shares of company stock valued at $31,220,882 over the last three months. 0.26% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in HD. Wela Strategies Inc. acquired a new position in The Home Depot during the second quarter valued at approximately $217,000. Beach Investment Management LLC. grew its holdings in The Home Depot by 1,023.1% during the second quarter. Beach Investment Management LLC. now owns 68,511 shares of the home improvement retailer’s stock valued at $10,510,000 after purchasing an additional 62,411 shares during the last quarter. Advent Capital Management DE acquired a new position in The Home Depot during the second quarter valued at approximately $690,000. Pictet & Cie Europe SA grew its holdings in The Home Depot by 5.6% during the second quarter. Pictet & Cie Europe SA now owns 31,631 shares of the home improvement retailer’s stock valued at $4,852,000 after purchasing an additional 1,685 shares during the last quarter. Finally, Capital Advisors Inc. OK grew its holdings in The Home Depot by 0.5% during the second quarter. Capital Advisors Inc. OK now owns 17,544 shares of the home improvement retailer’s stock valued at $2,691,000 after purchasing an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 70.69% of the company’s stock.

Shares of NYSE HD opened at $174.45 on Thursday. The Home Depot has a twelve month low of $144.25 and a twelve month high of $207.60. The company has a debt-to-equity ratio of 16.69, a current ratio of 1.17 and a quick ratio of 0.38. The stock has a market capitalization of $203,713.81, a price-to-earnings ratio of 23.38, a price-to-earnings-growth ratio of 1.40 and a beta of 1.15.

The Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $1.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.07. The Home Depot had a net margin of 8.55% and a return on equity of 306.73%. The company had revenue of $23.88 billion during the quarter, compared to the consensus estimate of $23.65 billion. During the same period in the prior year, the company earned $1.44 EPS. The Home Depot’s revenue was up 7.5% on a year-over-year basis. equities research analysts forecast that The Home Depot will post 9.43 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.36%. This is a positive change from The Home Depot’s previous quarterly dividend of $0.89. The ex-dividend date was Wednesday, March 7th. The Home Depot’s dividend payout ratio is 55.23%.

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The Home Depot Company Profile

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.

Analyst Recommendations for The Home Depot (NYSE:HD)

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